ECONOMY


Iran calls for further investment in North-South corridor

Baku, December 8, AZERTAC

The North-South transportation corridor, which will connect India and Russia, is close to realization, said Iranian Ambassador to the Russian Federation Mehdi Sanai, AZERTAC reports quoting RIA Novosti. "The North-South project was never so close to realization," he said at the opening of the International Conference ITC "North-South" in Moscow.

He stressed that the international and regional realities are such that the project should be implemented as quickly as possible. "This is useful for all countries in the region, and I think already has serious feelings in all countries of the region, it is necessary and very useful project for everyone," added Sanai.

According to the ambassador, the opening of new transportation routes within the ITC "North-South” corridor is a positive factor.

"Appropriate measures to revitalize this route were taken in the Islamic Republic of Iran and neighboring countries, including Azerbaijan. However, we need investments and greater efforts to increase the capacity of this corridor,” Sanai added.

The ambassador thanked his colleagues from India and Azerbaijan, as well as the Ministry of Transport of the Russian Federation for cooperation and support in the implementation of the project.

"I am very grateful and I confirm that the project is very relevant," he said.

The International North–South Transport Corridor is the ship, rail, and road route for moving freight between India, Russia, Iran, Europe and Central Asia. The route primarily involves moving freight from India, Iran, Azerbaijan and Russia via ship, rail and road. The objective of the corridor is to increase trade connectivity between major cities such as Mumbai, Moscow, Tehran, Baku, Bandar Abbas, Astrakhan, Bandar Anzali. 

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