The establishment of a joint free trade zone between Iran and Azerbaijan could significantly enhance cooperation in economics, technology, agriculture, industry, and logistics, Azernews reports.
Hadi Moghaddamzadeh, Executive Director of Iran’s Araz Free Trade Zone, made the remarks during a meeting with Iran’s Ambassador to Azerbaijan, Mojtaba Demirchilou, where the two discussed ways to deepen economic, trade, and investment collaboration between the neighbouring countries.
Moghaddamzadeh noted that the Araz Free Trade Zone is strategically located at the crossroads of major international corridors such as the North-South Transport Corridor and the Silk Road. This, he said, positions the zone to become a key hub for the economic growth of Iran and the Caucasus, as well as for expanding industrial, agricultural, and trade exchanges between Iran and Azerbaijan.
He added that numerous industrial enterprises currently operate in the zone with investments from Azerbaijani and Turkish citizens, emphasising that the Araz zone fully supports investors from friendly and partner countries. He also invited both domestic and foreign investors to take advantage of the opportunities offered by the Araz Free Trade Zone.
During the meeting, Ambassador Mojtaba Demirchilou expressed satisfaction with the progress being made in the Araz Free Trade Zone, describing it as one of the main centres for advancing bilateral economic cooperation.
The ambassador also highlighted that linking the logistical and industrial capabilities of the Araz Free Trade Zone with Azerbaijan’s markets could play a crucial role in boosting trade turnover between the two nations.
