North-South corridor to allow Azerbaijan grow non-oil revenues, says MP

  23 June 2021    Read: 124
North-South corridor to allow Azerbaijan grow non-oil revenues, says MP

The North-South international transport corridor extending from Russia to India will have a particular impact on the volume of international cargo transportation in the region, said Azerbaijani MP Vugar Bayramov, reports.

MP Vugar Bayramov stated that Azerbaijan supported the implementation of the project both in terms of investments and infrastructure. 

"The implementation of the project is necessary for Azerbaijan in terms of increasing the volume of international cargo transportation. International transportation is one of the main directions of the non-oil sector of our country", Vugar Bayramov noted. 

The MP also added that the project is also essential for strengthening the strategic position of Azerbaijan: "In particular, the importance of international transport projects covering the region is increasing in the context of using the Zangezur corridor."

Note that, the foundation of the North-South Transport Corridor was laid on the basis of the intergovernmental agreement signed between Russia, Iran and India on September 12, 2000. Azerbaijan joined this agreement in 2005. In total, 13 countries have ratified the agreement (the Republic of Azerbaijan, the Republic of Belarus, the Republic of Bulgaria, the Republic of Armenia, India, the Islamic Republic of Iran, the Republic of Kazakhstan, the Kyrgyz Republic, the Sultanate of Oman, the Russian Federation, the Republic of Tajikistan, the Republic of Turkey and  Ukraine).

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