TEHRAN – In a meeting between the new Head of the Islamic Republic of Iran Railways (known as RAI) Jabar-Ali Zakeri and Russian Ambassador to Tehran Alexey Dedov the two sides stressed the expansion of cooperation in the International North-South Transit Corridor (INSTC), IRNA reported.

In this meeting, while emphasizing the need for expansion of future cooperation, Zakeri said: “Due to the high volume of demand from India, we will be able to see an increase in transit through the International North-South corridor.”

He further suggested that rail experts from both countries convene to tackle the challenges hindering bilateral cooperation and explore potential investment opportunities for Russia in Iran.

The Russian ambassador responded positively to this suggestion and recommended that Iran organize an international summit involving countries participating in the INSTC initiative, reiterating Iran's consistent call for collaborative efforts in this significant project.

The International North-South Transport Corridor (INSTC) is a comprehensive transportation network that links India, Iran, Russia, and Central Asia. Stretching approximately 7,200 kilometers (4,474 miles), this corridor integrates various modes of transport, including rail, road, and maritime routes, to facilitate trade and improve regional connectivity.

The corridor initiates at the Mumbai port in India, crosses the Arabian Sea to reach Bandar Abbas in Iran, and then proceeds overland through Iran and across the Caspian Sea to Russia. It effectively connects St. Petersburg and other northern European regions with the Persian Gulf and the Indian Ocean.

Development of the INSTC has been in progress for more than twenty years, encountering numerous challenges along the way. Nevertheless, recent geopolitical developments and increasing economic motivations have sparked renewed interest in the corridor, highlighting its potential as an alternative trade route and a means to foster collaboration among the involved nations.

In recent years, additional countries have joined this significant initiative, including the Republic of Azerbaijan, Armenia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkey, Ukraine, Belarus, Oman, and Bulgaria.

Last week, Iranian Minister of Finance and Economic Affairs Abdolnaser Hemmati said that Iran and Russia are determined to implement the International North-South Transport Corridor as soon as possible.

Referring to a meeting with Igor Levitin, an aide to the Russian president, in Tehran, Hemmati said, "In this meeting, we discussed the important issue of implementing the North-South Corridor project."

In this meeting, Russia emphasized that it is determined to complete this project because it is beneficial for both Iran and Russia, while other Asian countries, including India and the Persian Gulf nations, will also benefit from it, Hemmati said.

"We called on President Putin's aid to invite the countries on the way of the International North-South Transport Corridor project to Iran in order to achieve the desired result for implementing this corridor as soon as possible," the Iranian Economy Minister said.

Mentioning the agreements and memorandums reached between Iran and Russia in recent years, Hemmati said he has urged Russia to take the necessary measures to implement those agreements noting that only 20 percent of them have been implemented so far.

After the imposition of Western sanctions on Iran and Russia, the two countries have been working to strengthen their trade ties and improve joint transportation infrastructure. One of the key trade routes between Iran and Russia is the International North-South Transport Corridor.

Railways are expected to play a key role in the development of the INSTC, with the completion of the Rasht-Astara railway which is a crucial component of the corridor. This railway will link the Iranian port of Bandar-e Anzali to Russia’s railway network and beyond, providing a direct and efficient route for goods to travel.

Russia has for the first time sent two trains laden with coal to India via the International North-South Transport Corridor, which connects Russia to India via Iran, according to a statement by Russia’s national railway company released in late June.

“For the first time, two trains with Kuzbass coal headed to India along the International North-South Transport Corridor. The trains set off from the Kemerovo region. They followed along the eastern branch of the INSTC through Kazakhstan and Turkmenistan to the Iranian port of Bandar Abbas,” Russian Railways stated in its Telegram channel.

In last October, Iran’s Maritime News Agency (MANA) reported that Iran and Russia were going to invest about $38 billion in the development of Trans Caspian shipping lines as part of the International North-South Transport Corridor.

Addressing an international conference dubbed “The North-South Corridor; a New Concept” in the Russian city of Astrakhan at the time, the Iranian director of the Russian Port of Solyanka, Dariush Jamali, branded the corridor as “a key element of the Eurasian transport network”.

EF/MA