Azerbaijan-Iran business forum postponed indefinitely

A major Azerbaijan-Iran business forum scheduled to take place on June 18 in Baku has been postponed indefinitely, according to the International Club of Manufacturers, Exporters and Importers (ICMEI).

The event was expected to host representatives from around 50 Iranian companies and feature B2B meetings aimed at exploring new business opportunities and strengthening bilateral cooperation, Caliber.Az reports, citing local media.

This was set to be the second such forum between Azerbaijan and Iran in 2025, underscoring growing economic engagement between the two nations.

ICMEI reports that approximately 2,980 Iranian companies are currently registered in Azerbaijan. Iranian investment in the Azerbaijani economy has exceeded $5 billion to date.

According to the State Customs Committee of Azerbaijan, bilateral trade between January and April 2025 reached $204.54 million — an 11.5% increase compared to the same period last year.

Azerbaijani exports accounted for $5.85 million (up 29%), while imports from Iran stood at $198.69 million (up 11.1%).

In 2024, total trade between the two countries amounted to $647 million, marking a 33% year-on-year rise.

Both Baku and Tehran have expressed a joint ambition to boost annual trade volume to $10 billion within the next five years.

By Aghakazim Guliyev