The agreements are seen as an endorsement of Azerbaijan’s two communication satellites across the Caucasus and Turkish region.
Azercosmos operates Azerspace-1, Azerspace-2 geostationary satellites and low-altitude AzerSky satellite.
Iran has also announced its intention to send its first cosmonaut into space in 2019.
NewSpace is an acceleration programme that provides technological, industrial and business mentoring and offers seed funding for early stage space startups.
Called Azerspace-2, the new launch from Azercosmos will expand on the current capacity of Azerspace-1, the company's telecommunications satellite.
The satellite will be launched by an Ariane 5 launch vehicle from the Guiana Space Center, located in Kourou, French Guiana