Russia, Iran and Azerbaijan sign MoU to simplify transit transportation
The document will let expand the opportunities of the North-South international transport corridor
Hheads of customs authorities representing Russia, Iran and Azerbaijan have signed a memorandum of understanding to simplify transit transportation, according to the Telegram channel of Russia’s Trade Representation in Iran.
“This document is to contribute to facilitation and streamlining of customs procedures for those engaged in foreign trade,” reads the statement.
According to the state customs committee of Azerbaijan, the document will ensure uninterrupted trade and supply chains between the countries and expand the opportunities of the North-South international transport corridor.
The MoU was signed in Teheran.
North-South international transport corridor (ITC) is a 7,200-kilometre-long transport artery from St Petersburg to ports in Iran and India. North-South ITC has a western and an eastern branch, both running across Iran. The western one foresees cargo transportation by road via Rasht, the eastern one – by railway.
The end point in Iran is the port of Bandar Abbas from which cargo can be delivered to India by sea. The western branch also crosses Azerbaijan, the eastern one – Kazakhstan and Turkmenistan. Besides, direct water transportation from Russia to Iran by the Caspian Sea is possible.
In 2021, trade turnover between Russia and Iran totaled $4 billion.
