Iranian Province Focuses On Mutual Investments With Azerbaijan (Exclusive Interview)

(MENAFN- Trend News Agency) ** BAKU, Azerbaijan, February 27.** The East Azerbaijan Province, located in the northwest of Iran, is actively working to attract investors for collaborative ventures with Azerbaijan, where efforts are underway to broaden the scope of their activities and facilitate reciprocal business trips, the province governor, Bahram Sarmast, told Tren d.

According to him, the Iranian side views its relationship with Azerbaijan as a top priority, emphasizing the historical partnership that has developed over time, and this commitment has been particularly evident since President Masoud Pezeshkian took office, with a clear policy aimed at strengthening ties between the two nations.

Sarmast mentioned that within the framework of mutual visits, business representatives from both countries are expected to exchange views and create conditions for joint cooperation, supported by the East Azerbaijan Province.

"President Pezeshkian’s efforts to expand the powers of the governors of border provinces are an important focus. Based on the position of East Azerbaijan Province and Tabriz in the relations with Azerbaijan, several priorities have been set for the governorate.

The East Azerbaijan Province has the main trade turnover with Türkiye, Russia, Iraq, and other countries. While there are trade opportunities with Azerbaijan, they aren’t considered satisfactory. However, by developing trade relations, greater opportunities can be created," he added.

Sarmast pointed out that in the grand scheme of East Azerbaijan Province’s economic development, several plans are on the horizon for implementation. East Azerbaijan, with Tabriz at its center, has always held a unique position in various fields, including politics, economy, industry, culture, and public sectors. As time has gone by, East Azerbaijan has gradually pulled away from this significant role. Steps are being taken to bring East Azerbaijan back into the limelight. In this respect, the province has laid out its sights on short-term, medium-term, and long-term goals.

"East Azerbaijan Province has several infrastructure projects that are considered essential for the province’s fundamental development. Among these projects, special emphasis can be placed on the highways and corridors passing through the province. These include the Tabriz-Sufyan road, the road to the Bazargan border crossing on the Turkish border, the Tabriz-Urmia highway, the Hashtrud-Maragheh highway, the Khavaran-Tabriz and Tabriz-Cheshmeh Soraya railway lines, and the strategic Kalaleh-Julfa road connecting Azerbaijan to Iran through Nakhchivan. These transportation infrastructures are of great importance for East Azerbaijan. The creation of these connection routes is crucial for the province.

One of the significant sectors in East Azerbaijan is the industrial sector. This sector is considered both developed and emerging in the province. Machine manufacturing and production of spare parts for various types of equipment are available in the province. There is also potential to develop the automobile manufacturing industry.

A total of 57 industrial parks are actively operating in the province. The province has a unique industrial park and the Araz Free Trade Industrial Zone, established through foreign investments. These potentials can play a unique role not only for East Azerbaijan Province but also for trade exchanges with neighboring countries, including Azerbaijan. Based on existing partnerships in many fields, joint trade can be strengthened on both sides of the border," he added.

The governor pointed out that by rolling out high-tech industries in the region, the province is aiming to step up its game. This is a key focus for East Azerbaijan Province.

"In the agricultural sector, the province has significant potential. Poultry farming and the processing industry are key areas of focus in the province.

East Azerbaijan Province has rich mineral resources, ranging from copper to gold. Moreover, carpet weaving and several other sectors are developing in the province. All of these play an important role in the economic development of East Azerbaijan.

The province has an economic gateway role for neighboring countries, both for the member countries of the Eurasian Economic Union and for European countries.

The province is working to create opportunities for foreign investors to invest in its industrial parks. At the same time, efforts are being made to increase product exports to neighboring countries," he concluded.

According to him, recently, 110 unnamed (not disclosed due to various reasons) investment opportunities have been identified in the economic sectors of East Azerbaijan Province. During the visit of Iran’s Minister of Interior, Eskandar Momeni, to East Azerbaijan, the presentation of four of these investment opportunities was held. The value of these four investment opportunities amounted to 220 trillion rials (approximately $168 million). Additionally, 130 unnamed investment opportunities have been identified in the field of urban development. The East Azerbaijan governorate is fully supporting investors economically.

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