Tuesday, 02 January 2024 12:17 GMT

Iran And Russia Push To Expand North-South Corridor Via Caspian Sea


(MENAFN- AzerNews) Nazrin Abdul Read more

Iran and Russia have reaffirmed their commitment to expanding the North-South International Transport Corridor, particularly focusing on the Caspian Sea route to boost regional connectivity and trade.

In a recent phone conversation, Iran's Deputy Minister of Roads and Urban Development and Chairman of the Ports and Maritime Organization, Saeed Rasouli, discussed the initiative with Russian Deputy Transport Minister Dmitry Zverev, Azernews reports.

Rasouli emphasized that all routes of the North-South Corridor are strategic priorities for both nations, particularly increasing cargo and container transit across the Caspian Sea.

To facilitate this effort, a maritime transport consortium meeting involving both state and private sector representatives is scheduled to be held in Makhachkala, Russia, within two months. Rasouli noted that key goals include simplifying customs procedures, standardizing port fees, and expanding port infrastructure to enhance logistics capabilities.

Zverev welcomed the proposals and confirmed Russia's intent to reach a comprehensive agreement on maritime and port cooperation.

The North-South Corridor, initiated by a 2000 agreement between Russia, Iran, and India, aims to significantly reduce cargo delivery times between South Asia, Russia, and Europe-from over six weeks to about three. Recent progress includes the completion of the Qazvin–Rasht railway in 2019 and a 2023 agreement for Russia to fund and construct the 163 km Rasht–Astara railway in Iran, a key missing link that will integrate Iran's rail network with the Caucasus, Russia, and beyond.

This collaboration underscores growing Eurasian efforts to build alternative trade corridors amidst shifting global logistics dynamics.

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