INSTC Archives - Iran News Daily

Plans Devised for INSTC Eastern Route

mahla — Sat, 20 Jul 2024 20:48:18 +0000

TEHRAN (Iran News) –“The implementation of the document will allow increasing the throughput capability of the corridor to 15 million tons per year by 2027 and to 20 million tons by 2030,” the press service of the Kazakh transport ministry reported.

“The implementation of the document will allow increasing the throughput capability of the corridor to 15 million tons per year by 2027 and to 20 million tons by 2030,” the report added, Tass reported.

The document was signed at the First Transport Trade and Export Forum North-South in Kazakhstan’s Aktau.

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Russia: INSTC, main route for goods transit

reporter 1222 — Mon, 11 May 2020 04:28:22 +0000

TEHRAN (Iran News) – Governor of Astrakhan region in Russia, Igor Babushkin tasked the participants of the regional working group for the development of the International North-South Transport Corridor (INSTC) project to send their proposals on its implementation to the Regional Ministry of Economic Development by May 15.

He noted that the development of the INSTC route, which unites India, Iran, Azerbaijan, Russia, and Northern European countries, will help increase the efficiency of cargo transportation through the territory of the country, Trend News Agency reported on Sunday.

“This is one of the priority issues that are under my constant control,” Babushkin said during a videoconference call with the working group members. “For the Astrakhan region, this means the revival of its trade and economic importance and creating new jobs and opportunities for improving the lives of the local residents.”

The Astrakhan initiative was supported by the Russian government, which approved a set of measures for the INSTC development on February 14, 2020.

In particular, according to Minister of Industry and Natural Resources Denis Afanasyev, these measures take into account the region’s proposals regarding the creation of a single corridor operator, the need for building port infrastructure for container handling, cluster development of the port and industrial and production special economic zones, as well as the creation of “Green Corridor” customs clearance system.

It’s also envisioned to create the Caspian cluster which will unite the port and industrial zones under a single management company.

According to estimates, within INSTC, 3.5 million tons of cargo will be handled by 2025, eight million tons by 2029, and more than 20 million tons by 2050.

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Closer Iran-Azerbaijan Ties to Serve Regional Interests

reporter 1222 — Fri, 25 Oct 2019 09:41:09 +0000

Closer Iran-Azerbaijan Ties to Serve Regional Interests

According To Iran News, Iranian President Hassan Rouhani highlighted the importance of efforts to promote bilateral ties between Tehran and Baku and said the relationship is beneficial not only to both nations but also to the region.

“With the efforts of senior officials of Iran and the Republic of Azerbaijan, the bilateral relations between the two countries have progressed to a satisfying level,” Rouhani said at a meeting with his Azeri counterpart, Ilham Aliyev, in Baku on Thursday night on the sidelines of the 18th Summit of Non-Aligned Movement.

The deepening of the bilateral ties and cooperation is beneficial not only to both nations but also to the region, he noted.

Rouhani further praised the effective role of the Iran-Azerbaijan Joint Economic Commission in boosting cooperation between the two countries and said, “In the area of industrial cooperation and automotive industry, grounds are provided for the good cooperation and Iran is also ready to construct power plants in the Republic of Azerbaijan.”

Rouhani also underlined the importance of the International North-South Transport Corridor (INSTC) and said Iran and Azerbaijan have had very good cooperation in the INSTC project and Tehran hopes that its final phases are constructed more quickly.

Aliyev, for his part, described Rouhani’s visit to Baku as a good opportunity for the development of bilateral relations.

“The deep cultural and historical commonalities between Iran and the Republic of Azerbaijan have paved the ground for closer cooperation and of course, the cooperation has considerably increased in your term in office,” he told Rouhani.

Heading a high-ranking delegation, Rouhani arrived in Baku to address the 18th NAM Summit, slated for October 25-26 in the Azeri capital, and explain the Islamic Republic’s positions on important regional and international issues.

The preparatory senior officials meeting of the NAM summit was held on October 21-22 and the two-day preparatory ministerial meeting was held on Wednesday and Thursday.

Host Azerbaijan will formally take over the chairmanship of NAM for the next three years at the Baku Summit.

Iran and Azerbaijan have ramped up efforts in recent years to forge a closer partnership in various areas.

In 2016, Aliyev paid an official visit to Tehran, during which the two sides signed 11 memorandums of understanding and agreements to promote mutual cooperation in a range of areas.

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