TURKEY GOING TO JOIN NORTH-SOUTH INTERNATIONAL TRANSPORT CORRIDOR

Turkey has formally petitioned Iran for joining the agreement on the North-South International Transport Corridor (ITC), as reported by Iran.ru, representative of the North-South ITC Office Mohammad Javad Artchian said. To note, Armenia, Azerbaijan, Bulgaria, Syria and Ukraine’s applications are awaiting consideration at present. Seven countries – Belarus, Iran, India, Kazakhstan, Oman, Russia and Tajikistan, have already concluded the agreement. Let us remind that Iran’s idea of constructing an alternative North-South route across Suez Canal will allow to solve the problem of increasing cargo circulation between the European and Asian states. The North-South ITC supposes cargoes to be transported from the Iranian southern ports across the Caspian Sea and towards the northern Russian ports. Such a route includes the elements of water, railway and car transport. It is 40% shorter and 30% cheaper than the traditional route across the Suez Canal.