Iran, Azerbaijan trade to reach 5 billion dollars

TABNAK, May. 01 - Head of the Iran-Azerbaijan Interparliamentary Friendship Group, Iranian lawmaker Sadif Badri said that Iran and Azerbaijan aim to increase bilateral trade from under $1 billion to $5 billion following agreements signed during President Pezeshkian's visit to Baku.

News ID: 6370

Date: 01 May 2025 - 14:13

The Head of the Iran-Azerbaijan Interparliamentary Friendship Group, Iranian lawmaker Sadif Badri, says bilateral trade between Iran and Azerbaijan is expected to reach $5 billion following agreements made during President Masoud Pezeshkian’s visit to Baku.

In an interview with IRNA on Thursday, Badri noted that the current trade between Iran and Azerbaijan remains below $1 billion. However, both sides agreed during President Pezeshkian’s visit to increase trade to at least $1 billion by the end of the year.

Badri described the visit as highly successful, emphasizing its positive impact on economic and trade relations. He added that the trip helped strengthen commercial ties, with discussions focusing on executing existing bilateral agreements.

“The visit received positive feedback in both countries and the region,” Badri said, adding that its full impact will become evident once the seven cooperation documents signed by both sides have been implemented.

Additionally, he highlighted a joint statement signed by President Pezeshkian and his Azeri counterpart, Ilham Aliyev, indicating that both sides agreed to remove barriers to enhancing mutual economic relations.