Iranian president urges to speed up creation of border corridor with Azerbaijan

Iranian President Masoud Pezeshkian, in a meeting with economic officials from the Ministry of Roads, urged the ministry's staff to expedite the implementation of the border corridor with Azerbaijan, as well as the completion of the International North-South Transport Corridor.

"Given the importance of these regional corridors, they must be completed as soon as possible," stated Masoud Pezeshkian, Caliber.Az reports, citing foreign media.

The Iranian leader also encouraged private companies to invest in Iran's infrastructure projects, noting that the country has projects of interest to foreign investors. He highlighted investment opportunities in Iranian ports as one such example, according to Mehr News Agency.

During the meeting, the president also listened to a report from the Minister of Roads and other officials on the status of the country’s international road and rail corridors.

Notably, the border corridor between Iran and Azerbaijan is part of a larger strategy to enhance regional connectivity and trade, primarily by creating reliable transport links that facilitate the movement of goods and people. This corridor is of strategic importance for both Iran and Azerbaijan, as it opens up new trade routes and enhances economic ties between the two countries, while also providing each country with improved access to neighbouring regions and global markets.

The corridor is closely linked to the International North-South Transport Corridor (INSTC), a major transit route that runs from Russia through Azerbaijan and Iran to India, with links to other regions in Central Asia, the Middle East, and beyond. The INSTC is designed to provide a faster and more cost-effective alternative to traditional maritime routes through the Suez Canal, aiming to cut transit time by as much as 40% and reduce transportation costs by up to 30%.

By Khagan Isayev