Expert: Russia-Azerbaijan-Iran regional partnership testifies their interest in INTC project

Expert: Russia-Azerbaijan-Iran regional partnership testifies their interest in INTC project

Baku, Azerbaijan, June 13

By Matanat Nasibova – Trend:

The willingness of regional partners, namely Russia, Iran and Azerbaijan, to support the implementation of International North-South Transport Corridor (INTC) project for many years testifies its economic feasibility and geopolitical significance, Director of Russian Economic School, Professor of the Azerbaijan State University of Economics (UNEC) Elshad Mammadov told Trend News Agency during the Moscow-Baku video conference entitled “North-South Transport Corridor: regional integration prospects”.

“The strengthening of the regional partnership among the three countries testifies to the growing interest of the participating countries in the International North-South Transport Corridor,” he added.

"Today, the world economy is passing to the stage of formation of the new, sixth technological order,” Mammadov said. “We observe how the location of the centers of activity and the structural component of economic development are changing.”

“This sets new challenges for the Azerbaijani and Russian national economies, which have many similarities,” the expert said. “To some extent, this is connected to the similarity of the key sectors of the economy formed during the Soviet period, including the energy, oil and gas sectors."

Mammadov stressed that over the past decade, the project participants relied on a fairly important raw material base, ensuring a stable flow of currency, which made it possible to level all external shocks arising in the turbulent global economy.

"The issues of diversification and development of our economies, including the non-oil and high-tech sector, are priorities of the state policy of Russia and Azerbaijan,” he added. “These nuances point to the fact that this project becomes more important.”

“In my opinion, external risks and trade wars that could have disastrous consequences for the global economy are hindering the implementation of large-scale projects,” the expert said. “It is worth taking into account that developing economies may sharply collapse, more threats may occur for the implementation of such large-scale projects, and the efficiency of logistics and transport corridors may weaken as a result of the recessions on a regional and global scale."

“The International North-South Transport Corridor has real prospects for implementation in the medium term,” the expert stressed.

The International North–South Transport Corridor is designed for the transportation of goods from India and the countries of the Persian Gulf to Russia, Western Europe, the Baltic and Scandinavia.

If cargo transportation by sea through the Persian Gulf, the Suez Canal, the Mediterranean Sea to Helsinki takes 45-60 days, the delivery time along the "North-South" corridor will take 20-25 days.

Azerbaijan, Iran and Russia signed an agreement in 2005 on the construction of 375 km long railway segments in Iran between Astara and the Azerbaijan-Iran border, and the reconstruction of an existing railway in Azerbaijan to develop transportation in this area.

The Astara-Rasht-Qazvin railway project envisages the construction of a new railway line in Iran, which will connect the Azerbaijani city of Astara to the Iranian cities of Astara, Rasht and Qazvin.

The video conference was organized by the representative office of the North-South political science center in Baku, Trend News Agency and Caspian Expert Club.

Austrian FM to visit Iran
Austrian FM to visit Iran
Larijani hails Iran's achievements in fighting terrorism
Larijani hails Iran's achievements in fighting terrorism
Larijani: Iranian businessmen eager to cooperate in Syria reconstruction
Larijani: Iranian businessmen eager to cooperate in Syria reconstruction
Loading Bars
Latest
Two German tourists killed by avalanche on Svalbard
Trump extends sanctions targeting Gaddafi family, associates for another year
Kuwait Airways says suspends flights to Iran over outbreak of new coronavirus
Erdogan holds meeting with Libyan GNA’s Sarraj in Istanbul
Merkel, Macron tell Putin they are ready to facilitate northwestern Syria de-Escalation efforts
Three dead after small plane crashes in Coleman County, Texas
Bloomberg campaign spends over $220 million in January
Minister: Slovenia, Azerbaijan should unleash untapped opportunities in services, investments
Minister: Slovenia sees Southern Gas Corridor as part of strenghtening EU's supply security
President Ilham Aliyev, First Lady Mehriban Aliyeva visited Tomb of Unknown Soldier in Rome (PHOTO)
President Ilham Aliyev met with President of Italian Chamber of Deputies (PHOTO)
President Ilham Aliyev had working dinner with heads of Italian largest companies (PHOTO)
Minister: Slovenian Railways interested in cooperation with Azerbaijani Railways
Man arrested after non-fatal stabbing inside London mosque
Azerbaijan’s Pasha Life Insurance Company reps take part in Partners and Business exhibition in Baku
Air cargo transportation to and from Azerbaijan increases
Azerbaijani president meets with president of Italian Senate (PHOTO)
Azerbaijan sends humanitarian aid to Australia to battle forest fires (PHOTO)
Iranians helping China battle Coronavirus spread with humanitarian aid
Azerbaijan's First Lady Mehriban Aliyeva views Quirinale Palace in Rome (PHOTO)
Azerbaijan’s TOP 5 trade partners in January
Changes occur in management of Azerbaijani Industrial Insurance Company
Azerbaijan’s foreign trade balance surplus grows
Turkmenistan, Russian company ink IT agreement
Azerbaijan’s maritime cargo transportation increases
Switzerland praises Azerbaijan's structural and economic reforms
Azerbaijan, Italy exchange documents (PHOTO)
Azerbaijani president meets with president of Council of Ministers of Italy (PHOTO)
Founder of jewelry company in Azerbaijan talks sale of gold and silver jewelry sets
Azerbaijan launches new service within compulsory medical insurance
Iran's dam construction, water sectors grow
Uzbekistan working on long-term strategy for gas transport infrastructure
Azerbaijan to create information platform on its tourism potential
Azerbaijan's export volumes up in January 2020
Georgia decreases export of wine from fresh grapes to Russia
Number of foreign tourists up in Iran's Ardabil province
Kazakhstan approves its bitumen production plans for 2020
ADB to support Kazakhstan’s agriculture infrastructure development
Korea Trade-Investment Promotion Agency talks success of Azerbaijan’s economic policy
Georgian Berry Company expands production
Turkmenistan's ambassador presents credentials to Germany's federal president
Balance of bank loans in Iran revealed
Iran to pay compensation to flood hit farmers
Korean citizen with flu symptoms to be tested for coronavirus in Tbilisi hospital
Volume of rail freight transportation increases in Azerbaijan
New trade representative of Russia in Azerbaijan appointed
Morgan Stanley to buy E*Trade Financial in $13 billion deal
BP interested to participate in renewable energy production in Georgia
National Iranian South Oilfields Company to buy PDC core head via tender
Iran’s Pars Oil Company to domestically produce motor oil
Kazakhstan’s oil producing company to buy radio stations via tender
Restructurization of Kazakhstan's Tengri Bank halted
Azerbaijan significantly increases export of oil
Azerbaijan’s CEC annuls results of voting at one more polling station
National Iranian South Oilfields Company to buy gas turbine spare parts via tender
Turkish businessmen to enter Uzbekistan's market
SOCAR, Snam to study development of renewable gases, use of sustainable energy
Azerbaijani, Italian presidents made press statements (PHOTO)
US notifies citizens on situation regarding new coronavirus in Turkmenistan
National Iranian South Oilfields Company to buy air compressor spare parts via tender
Value of road freight transportation increases in Azerbaijan
Kazakh KAZ Minerals studying one of largest undeveloped copper fields
Iran prepares sponsorship plan for retired civil servants
Azerbaijan’s State Security Service conducts special operation in Netchala district
UK is more free to trade and develop partnerships with Azerbaijan, says PM’s Trade Envoy
Luxembourg PM: Britain must stick to fair competition commitments
EU privacy body warns of privacy risks in Google
Azerbaijani agricultural products would be popular in UK: Baroness Nicholson
Baroness Nicholson: UK ready to help maximize Azerbaijan’s solar, wind and hydro generation potential
Iran's West Oil & Gas Production Company discloses oil production volumes
Azerbaijan reveals wine export revenues
Azerbaijani President Ilham Aliyev, Italian President Sergio Mattarella hold expanded meeting (PHOTO)
Kazakh freight transportation operator opens tender for equipment modernization
Azerbaijani, Italian presidents hold one-on-one meeting
Oil products to be put up for sale at Iran Energy Exchange
Israel's Wix.com sees 2020 revenue reaching almost $1 billion
WHO says in touch with South Korea on 'cluster of COVID-19 cases'
Azerbaijan exports hazelnuts to Lebanon for first time
National Bank of Georgia joins network of central banks
Chinese CNPC opens tender for selling of lump sulfur in Turkmenistan
Turkish Grand National Assembly: Azerbaijan, Turkey want peaceful settlement of Karabakh conflict
ARETI taking part in development of Turkmen shelf of Caspian Sea
Volume of cargo transportation in Azerbaijan increases
Azerbaijani company talks on plans to cover Georgian, Kazakh IT market
Uzbekistan plans to introduce modern "smart water" system
Azerbaijan’s Ateshgah Life insurance company preparing new products
Azerbaijani Central Bank eases currency regime for entrepreneurs
Central Bank of Iran: Denomination to be implemented within 2 years
Kazakhstan’s KAZ Minerals talks copper, precious metals output in 2020
Three test positive for coronavirus in Iran - health ministry
Belarus to help Georgia in creating dairy farms
Uzbekistan plans to purchase helicopters from Russia's Tatarstan
Kazakhstan officially prohibits personal protective equipment export amid coronavirus spread
Output of Iran’s South Zagros Oil & Gas Production Company revealed
Official welcome ceremony held for Azerbaijani president in Rome (PHOTO/VIDEO)
Edison sees decrease in sales revenues
Azerbaijan’s State Security Service conducting special operation in administrative building of Netchala District Executive Power
UK retail sales rebound in January after weak end to 2019
German state minister: Owner of car used to flee shooting was 43-year-old German
Austrian FM to visit Iran
All news