MNA – The seventh Coordinating Council meeting for the International North–South Transport Corridor (INSTC) has kicked off in Tehran with representatives from 14 countries in attendance.
The two-day summit, organized by Iran’s Ministry of Roads and Urban Development, is being held concurrent with the eighth expert meeting of the INSTC member states, where representatives from 14 countries will try to identify ways of increasing cooperation and the volume of exported goods through boosting the economic attractiveness of the Corridor, as well as its competitiveness compared to rival corridors in the region.
The North-South Corridor was established in 2000 by Iran, India and Russia. It currently has 14 member states including Armenia, Bulgaria, Oman, Turkey, Tajikistan, Kazakhstan, Kyrgyzstan, Ukraine, Belarus, Syria and Azerbaijan.
In 2018, 11 million tons of goods were transported via this Corridor. Experts believe that the completion of the Qazvin-Rasht railway, which is an important part of the INSTC, and its official inauguration on Wednesday in the presence of the Iranian President Hassan Rouhani, will further increase the Corridor’s transit capacity.