The agreement will help facilitate transit between the three countries and further simplify customs procedures.
Under the terms of the document, the three signing countries have to increase working hours of the border terminals, inform the other countries in advance about the details of goods that are entering their soil and to hold regular meetings to discuss the implementation of the agreement.
Iran, Azerbaijan, and Russia are going to invest in the construction of the Rasht-Astara Railroad project jointly which is part of the highly strategic International North-South Transport Corridor (INSTC).
A delegation from the Russian Federation travelled to Iran last week to discuss ways to participate in Rasht-Astara railway.
Speaking during a meeting with the Russian delegation, Deputy Iranian Minister of Road and Urban Development Kheirollah Khademi said that if Russia provides the required resources, the railway will be completed within three to four years.
Iran began the construction project of Rasht-Astara railway in northern country early in August.
Speaking to reporters, Astara Governor Enayat Rezaeipour said that some 10,000 billion rials is estimated to be needed for the completion of the project.