TEHRAN – Iran's Minister of Transport and Urban Development Mehrdad Bazrpash and Deputy Prime Minister of the Republic of Azerbaijan Shahin Mustafayev held talks as the chairmen of the Iran-Azerbaijan Joint Economic Committee in Baku on Friday to discuss bilateral ties and issues of mutual interest.

During the meeting, the two sides negotiated over promoting cooperation, border facilities, joint rail and road projects, and the International North-South Transport Corridor (INSTC) as part of developing mutual relations, the portal of the Iranian Transport Ministry reported.

The sides also discussed the details of an agreement to build a railroad passing through Iran that will link Azerbaijan with Nakhchivan.

As reported, the two sides signed a letter of intent for the construction of a bridge on the Aras River as the first step for constructing the mentioned railroad.

Based on the signed document, the Azeri side will fund the project for constructing a bridge for the railway line which will be built parallel to Aghband, which is a bridge for the passage of cars on the river.

Speaking at the meeting, Bazrpash said: “A general agreement was made in Astara and a memorandum of understanding was prepared. If the Azerbaijani side is ready, we can sign the memorandum in the next two days and get one step closer to concluding a contract.”

“If the memorandum of understanding is signed, the designing of the railway sector can start parallel to the road design,” the Iranian minister said.

The facilities will aim to increase freight transit through the countries and ease access to Nakhchivan.

Construction of the bridge is part of the memorandum of understanding between the governments of Azerbaijan and Iran on the creation of new links between the East Zangezur economic region of Azerbaijan and Nakhchivan through Iran.

The Azerbaijani deputy prime minister said the work is planned to be completed within a year.

Solving the banking problems of Iranian businessmen, issuing on-arrival visas with the aim of increasing passenger commute, and finalizing the preferential trade agreement were also among the other topics that were raised in this meeting.

Tehran-Baku ties significant for region

The Iranian Transport Minister also met with Azerbaijan’s President Ilham Aliyev during his visit to Baku, in which Aliyev considered the friendship and cooperation of the two countries as an important factor for the entire region and emphasized on the development of the International North-South Transport Corridor and the further expansion of its transmission capacity.

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Photo: Iran's Transport Minister Mehrdad Bazrpash (L) and First Deputy Prime Minister of Azerbaijan Shahin Mustafayev shake hand after signing a co-op document in Baku on Friday.