TEHRAN (Press TV) -- The Republic of Kalmykia of the Russian Federation is planning to hold the International North-South Transport Corridor (INSTC) rally.

The event, which is said to be a rival for the famous Paris-Dakar rally, will start next year with the aim of introducing and promoting the North-South Transport Corridor.
A multi modal transportation established by Iran, Russia and India in St. Petersburg in September 2000, the INSTC connects the Indian Ocean and the Persian Gulf to the Caspian Sea via Iran, which is then connected to St. Petersburg and North Europe via the Russian Federation.
The INSTC was expanded to include eleven new members, namely Azerbaijan, Armenia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkey, Ukraine, Belarus, Oman, Syria and Bulgaria.
The rally has been organized and supported by President of the Republic of Kalmykia K.N. Ilyumzhinov to act as an international symbol for INSTC and a way to attract international investors to the corridor.
Introducing the Iran path as a safe transportation route from Asia to Europe and introducing the economical and commercial potentials of the countries along INSTC are among the other aims of the project.
Organizers hope that the annual rally will introduce the corridor as a more affordable path, compared to the Suez Canal, for transporting products from Asia to Europe and back.
International news coverage of the rally by advertising companies and media will also introduce the corridor as a significant economical route.