A Ready Platform for the Expansion of Iran–Baku Cooperation

 econews.  BAKU– According to the Iran Economic News Agency (IRENA), the Head of the Organization for Investment, Economic and Technical Assistance of Iran, Mr. Heydari, announced that following the signing of a Memorandum of Understanding (MoU) for a Joint Investment Committee during President Pezeshkian’s visit to Azerbaijan, plans were in place to hold the committee's inaugural meeting. Although circumstances previously prevented the convening of this session, he noted that the meeting is now set to be held at the earliest possible opportunity.

Speaking on the sidelines of the Islamic Development Bank Group’s annual meeting in Baku, the Iranian official, in a discussion with the head of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), highlighted his organization’s strategies for promoting and improving foreign investment. He emphasized the paramount importance of exchanging expertise and identifying mutual areas and projects for cooperation. He further noted that the Joint Economic Commission between the two nations has already established several agreed-upon axes that could serve as the primary agenda for the Joint Investment Committee.

Addressing the economic potential of both parties, the vast landscape of shared opportunities, and the capabilities of Iranian enterprises, Mr. Heydari stressed that the necessary infrastructure for action is already in place.

It is worth noting that during the session, a list of projects prepared for foreign investment in Iran was presented to the Azerbaijani side, and the current conditions for each sector were detailed.

For their part, the Azerbaijani delegation expressed readiness to convene the first meeting of the Joint Committee, outlining the duties, agenda, and planned actions of the Azerbaijan Export and Investment Promotion Agency.

The Azerbaijani side also commended the recent initiatives and programs of the Iranian organization, particularly the structuring of data regarding investment opportunities. Furthermore, they announced that the agency will host the "Azerbaijan International Investment Forum" in September 2026, which represents an excellent opportunity for Iranian economic actors, investors, and capable enterprises to participate.

Reflecting on the historical presence of Iranian entities in the Azerbaijani economy, the representative added that significant potential exists for increased collaboration, noting that the Joint Investment Committee serves as a vital instrument for structuring and formalizing these bilateral ties.

The meeting concluded with a detailed exchange of the achievements and measures taken by both parties in attracting foreign investment, aiming to share perspectives and leverage existing experiences.