Trade Route Through Iran Linking Armenia, India Planned To Open Soon
Date
1/15/2024 5:15:31 AM
(MENAFN- AzerNews)
Abbas Ganbay Read more
A trade route through Iran linking Armenia and India is planned
to be opened by May 2024. This was announced by Armenian Economy
Minister Vahan Kerobyan, Azernews reports.
"This is our goal, we have agreed to solve all issues by May
this year to have a properly working trade route between the Indian
port of Mumbai to Armenia via Iran (Chabahar port - ed)," Kerobyan
said.
The Minister explained that the other day he met with his Indian
counterpart, as well as the head of the company-operator of the
Indian section of Chabahar port. The parties outlined an action
plan to be implemented by May.
The proposed trade route is part of the International
North-South Transport Corridor (INSTC), a 7,200-kilometer-long
network of ship, rail, and road routes for moving cargo. The INSTC,
originally decided between India, Iran, and Russia in 2000, aims to
reduce the cost and transit time between India and Russia by about
30 percent and more than half, respectively.
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