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Iran OKs Central Asia-PG transit corridor

Business Materials 13 May 2011 11:38 (UTC +04:00)
The Iranian administration has agreed to the implementation of an agreement that would establish a transit corridor between the Persian Gulf and Central Asia to boost regional trade
Iran OKs Central Asia-PG transit corridor

The Iranian administration has agreed to the implementation of an agreement that would establish a transit corridor between the Persian Gulf and Central Asia to boost regional trade, reported Press TV with reference to IRNA.

During its Thursday session, the Iranian cabinet allowed the relevant organization to implement a preliminary agreement between the Islamic Republic, Turkmenistan, Uzbekistan, Qatar and Oman for the establishment of the connecting route.

The agreement was inked in April, when the foreign ministers of the five countries met in the Turkmen capital, Ashgabat, to attend a meeting on international and commodities transit cooperation.

Iranian Foreign Minister Ali Akbar Salehi later said the Ashgabat five-party agreement promotes economic cooperation between regional countries.

"The Ashgabat five-side agreement offers a promising prospect for economic and transit cooperation as well as a bright future for regional development, welfare and stability," the Iranian foreign minister said.

"I'm sure this agreement will entail favorable and constructive outcomes for regional nations and will offer the five nations (Iran, Turkmenistan, Oman, Qatar and Uzbekistan) useful and ideal opportunities in launching international transit services," Salehi added.

The multilateral agreement will set up a trade link that will boost the transport of goods via railway, sea and land.

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