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Azeri Prime Minister calls transport and transit key sectors in cooperation with Russia

Ali Asadov drew attention to the great importance of the international transport corridor North-South

BAKU, November 17. /TASS/. Mutual trade between Azerbaijan and Russia is steadily growing, while cooperation in the transport and logistics sector has significant prospects, Azeri Prime Minister Ali Asadov said on Thursday. He was speaking at the plenary session of the 11th Russian-Azerbaijani Interregional Forum.

In his opinion, " transport and transit sector are the key area of the Azerbaijani-Russian cooperation."

"Over the ten months of this year, the volume of cargo transportation between Azerbaijan and Russia increased by more than 22%," the head of the government of Azerbaijan stressed.

He drew attention to the great importance of the international transport corridor North-South.

"During the nine months of this year, cargo transportation along this route increased by more than 15%, the launch of the project at full capacity contributes to the development of the region, promotes trade, transit and the overall economic development of our countries, as well as other participating states," Asadov said. He added that the Zangezur corridor could provide new opportunities in the transport and logistics sector.

An intergovernmental agreement on the creation of a multimodal transport corridor North-South was signed by Russia, India and Iran in 2000. Later the number of participants increased to 14. The goal of the project is to attract the transit of cargo flows from India, Iran and the Persian Gulf nations through Russian territory to Europe (compared with the sea route via the Suez Canal the distance shrinks by more than half, which brings the term and cost of transportation down). Currently the project unites several various transport systems of separate countries. India has invested around $2.1 bln in it, with part of the sum spent on the construction of transport infrastructure in Iran.

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