North-South transportation corridor to strengthen Azerbaijan’s economic positions

Implementation of the International North-South Transportation Corridor (INSTC) will positively affect the development of countries participating in the project, Mikhail Neyzhmakov, head of the Center for Political Studies at the Institute for Globalization and Social Movements, told Trend Aug. 6.

Neyzhmakov said the North-South corridor will strengthen Azerbaijan’s economic positions.

“Despite that the project has been discussed for a long time, there is already the likelihood of its successful implementation,” he said.

The expert also pointed to the interest of Afghanistan and India in the project.

The project will link a number of countries – Afghanistan, India, countries of Central Asia and Eastern Europe, will have grandiose scale, capabilities, and will facilitate trade, he added.

Neyzhmakov said the project is also beneficial for recovery of Iran’s economy, which was greatly damaged by sanctions.

During the sanctions’ period, big Western companies left Iran, he noted, adding that now they are returning, but it will take some time anyway.

“Cooperation with Russia and Azerbaijan will help to restore the economy that suffered over the sanctions’ period,” added Neyzhmakov.

The International North-South Transportation Corridor will be one of the main topics of the meeting between Azerbaijani, Russian and Iranian presidents on Aug. 8 in Baku.

The North-South transportation corridor is meant to connect Northern Europe to South-East Asia. It will serve as a link connecting the railways of Azerbaijan, Iran and Russia.

At the initial stage, the North-South corridor will transport 5 million tons of cargo per year with further expansion of transportation to over 10 million tons.

Source: Trend News Agency