Iran aims to enhance its annual trade with Azerbaijan, reflecting stronger economic ties. Ambassador Mojtaba Demirchilou highlighted key strategies, including Joint Economic Commission meetings to facilitate trade and encourage business interactions. In 2024, trade turnover rose by 34% to $647 million, but more progress is needed, particularly in removing financial barriers and improving logistics. The energy sector also plays a vital role, with projects like oil reservoir cooperation in the Caspian Sea and electricity grid synchronization among Iran, Azerbaijan, and Russia. Additionally, construction of a new bridge over the Araz River is nearing completion, enhancing connectivity between the nations.