ECONOMY


Azerbaijan, Russia to develop railway cooperation

Baku, May 6, AZERTAC

Azerbaijan and Russia have signed a memorandum to develop railway cooperation.

The document was signed by Chairman of Azerbaijan Railways CJSC Javid Gurbanov and Chief Executive Officer and Chairman of the Executive Board of Russian Railways JSC Oleg Belozerov.

The memorandum will see the two countries` railway authorities implement coordinated policy for the development and operation of the Eurasia international transport corridors, expand foreign economic relations as well as ensure optimal transportation conditions for transit traffic.

The sides intend to develop comprehensive cooperation in the railway sector, including the transport and transit potential of national railway companies through the joint implementation of measures that will contribute to the growth of freight traffic via the Iran-Azerbaijan-Russia-Europe routes within the western route of the North-South International Transport Corridor and the Russia-Azerbaijan-Turkey route by using the infrastructure of the Baku-Tbilisi-Kars railway.

Russian Railways and Azerbaijan Railways also agreed to jointly attract additional cargo for transportation via container trains through the western route of the North-South corridor and other routes.

The companies' efforts will be focused on the development of transit traffic in the East-West-East direction, primarily the transit traffic between Azerbaijan and China through Russia, as well as transit traffic between China and other countries through Russia and Azerbaijan.

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