Corridor "North-South" will become a competitor to the Suez canal
Material posted: Publication date: 11-08-2016
The project of International transport corridor (MTK) "the North — South length of 7200 km, connecting Northern Europe with India and the Gulf States, will be one of the key themes of the summit of leaders of Iran, Russia and Azerbaijan in Baku. According to Iranian Press TV, the new route will compete with the Suez canal.

Trilateral meeting of Vladimir Putin with President of Azerbaijan Ilham Aliyev and President of Iran Hassan Rouhani. will be held on Monday 8 August.

The main advantage of the ITC "North — South" before the other routes (in particular, before the sea route through the Suez canal) is the reduction in two and more times the distance of transportation and also reducing the cost of container transport compared to transport cost by sea route.

As stated by Russian President Vladimir Putin in an interview with the Azerbaijani news Agency "AzerTAj" ahead of his visit to Baku, the project of International transport corridor "North — South"aimed at creating optimal opportunities for the movement of transit cargo from India, Iran, countries of the Persian Gulf on the territory of Azerbaijan, the Russian Federation and later in Northern and Western Europe. He also noted that the volume of cargo transportation via the international transport corridor "North — South" with the participation of JSC "RZD in 2015 was 7.3 million tons, which is 4.1% higher than in 2014.

As noted by Press TV, Iran, Russia, and Azerbaijan depend heavily on revenues from the sale of oil, which fell sharply due to lower prices. New transit route offers countries a unique alternative to diversification of its economy.

It will also help the Caspian countries as well as India and other States in the region to reduce its dependence on traditional markets in the West, where currently not in such great demand. The corridor will provide access to growing markets in Asia, Africa and Latin America.

Route water, road and Railways will connect Indian Mumbai to the Iranian port of Bandar Abbas and then through Baku, Astrakhan, Moscow and Saint Petersburg will stretch to Northern Europe and Scandinavia.

In addition to Iran, India and Russia, to integrate into the transit network Armenia, Azerbaijan, Belarus, Kyrgyzstan, Kazakhstan, Ukraine, Turkey, Tajikistan, Oman, Syria and Bulgaria.

"We believe that this cooperation serves the interests of the peoples of Iran, Azerbaijan and Russia and, of course, the interests of the entire region," said Minister of foreign Affairs of Iran Mohammad Javad Zarif on the eve of the summit in Baku.

According to Zarif, the country under discussion, "the final details" of the project ITC "North — South".

Iranian newspaper cites the company's calculations, Russian Railways logistics, according to which the new route reduces travel time of goods from India to Russia for 14 days, and eliminates the need to use the Suez canal, which is not only very congested but also very expensive.

Meeting of the presidents of Russia, Azerbaijan and Iran will be held in the Heydar Aliyev Center, the building which is one of the architectural sights of Baku. The summit on the rights of the owner will reveal Ilham Aliyev, followed by speeches Putin and Rouhani on the prospects of cooperation in a trilateral format.

Further, the presidents will listen to reports of heads of relevant departments of Russia, Azerbaijan and Iran, in particular, of Ministers of transport, energy and economy.

The results of the trilateral meeting is planned the adoption of the Declaration, which will reflect the main directions of further cooperation between the countries. Upon completion there will be a press conference of the foreign Ministers of Russia, Azerbaijan and Iran, Sergei Lavrov, Elmar Mammadyarov and Mohammad Javad Zarif.


Tags: Iran , Russia , Caspian Sea