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Kazakhstan, Iran, Turkmenistan to open new railways

December 03, 2014, 6:15 UTC+3 ASHGABAT
A new North-South railway corridor will be opened on Wednesday
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ASHGABAT, December 3. /TASS/. A new North-South railway corridor will be opened by Presidents of Kazakhstan, Turkmenistan an Iran, Nursultan Nazarbayev, Gurbanguly Berdymukhamedov and Hassan Rouhani on Wednesday.

The project is being carried out with the assistance of the Asian and Islamic Development Banks.

An agreement to this effect was signed by the leaders of three countries in 2007. The construction started in 2009.

“Due to the construction of the railway towards the Persian Gulf Kazakhstan’s trade turnover has increased by 38% this year,” Nazarbayev said on Tuesday.

Rail transit can serve the expansion of economic relations between Russia and Iran and the implementation of the Russian-Iranian trade treaty on supplies of Iranian oil in exchange for Russian grain, equipment and other industrial goods.

Russian Minister of Economic Development Alexei Ulyukayev said Moscow hoped to sign contracts with Tehran on non-primary goods export.

The new trade route will strengthen trade and economic relations, as well as regional and geopolitical positions of Turkmenistan, Iran and Kazakhstan.

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