Tehran, Baku plan to establish joint Economic Development Headquarters

By Azernews

By Rashid Shirinov

Tehran and Baku plan to establish the Iran-Azerbaijan Economic Development Headquarters, Secretary General of Iran's Transportation and Logistics Federation Mohammad Eygharloo told Trend on August 5.

"The decision to create the economic development headquarters was made during a recent joint chamber of commerce meeting between the representatives of the two countries,” he said.

Eygharloo noted that a similar headquarters was also established between Iran and Iraq, which has led to good results.

Noting the good relations between Tehran and Baku, the secretary general said that Azerbaijan can act as a terminal to transfer Iranian goods to other countries.

“Iran can also import wood from Azerbaijan, which could be very advantageous,” he added.

Eygharloo also mentioned the North-South Transport Corridor, a route to link India and the middle East to the Caucasus, Central Asia and Europe.

“Iran’s Ministry of Roads and Urban Development pays special attention to the creation of this route and aims to complete it,” he said.

The International North-South Transport Corridor is planned to transport 5 million tons of cargo per year at the initial stage and over 10 million tons of cargo in the future.

The corridor is expected to bring huge benefits to the Azerbaijani budget. The route enjoys several advantages compared to other transport corridors, as it is considered to be more profitable for each parameter than other alternative routes, including reduction of the distance and delivery time two or threefold.