“It is planned to establish a branch of the Tabriz Tractor Plant in the Araz Valley Economic Zone Industrial Park,” Azerbaijani Deputy Prime Minister Shahin Mustafayev told reporters after a meeting with Rostam Ghasemi, Iranian Minister of Roads and Urban Development and Co-Chair of the Iran-Azerbaijan Intergovernmental Joint Economic Cooperation Commission, Report informs.
"An Iranian car plant is located in the Neftchala Industrial Park. We already want to make spare parts in Neftchala. At the same time, there was earlier a project for the production of medicines. We want to reanimate and carry out this project. There are a number of such projects. We are building our work in this direction to further increase the level of mutually beneficial cooperation between our countries," Mustafayev said.
The Araz Valley Economic Zone Industrial Park was established by a presidential decree on October 4.
Work is being carried out in stages to create a favorable investment climate for entrepreneurs in the Araz Valley Economic Zone Industrial Park, and 200 hectares of land have been allocated for the park.
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