TEHRAN, May 17. /TASS/. Iranian President Ebrahim Raisi called the route of the International North-South Transport Corridor, which passes through Iran, the most affordable in the region.

He said this at the signing ceremony for the agreement to build the Rasht-Astara rail line in Iran.

"The route through Iran is the cheapest, most economical and closest route for commercial and transit traffic in the region," Raisi said as quoted by the ISNA agency. Russian President Vladimir Putin also joined the ceremony via video link.

"No doubt, this agreement is an important strategic step towards expanding cooperation between the two countries," Raisi said as quoted by Tasnim news agency.

"Iran and Russia have great economic opportunities, and today it is our commitment to take advantage of these opportunities," the Iranian president said.

"The North-South International Transport Corridor will be useful for all countries in the region; it will be a manifestation of friendship and cooperation between countries from East Asia to the Caucasus and Northern Europe to a greater extent than in the past," Raisi concluded.

The agreement to build the Rasht-Astara rail line was signed in Tehran by Russian Transport Minister Vitaly Savelyev and Iranian Minister of Roads and Urban Development Mehrdad Bazrpash. The signing ceremony was also attended by Deputy Prime Minister of the Russian Federation Alexander Novak, who is in Tehran on a working visit.

According to the document, Moscow and Tehran will jointly finance the design, construction, as well as the supply of goods and services.

Some 170 km long, the Rasht-Astara line is designed to link land sections of the International North-South Transport Corridor, which will boost the economic efficiency of the trans-Caspian route. It is planned that the Rasht-Astara line will be built by Moscow and Tehran, while the Astara (Iranian city) - Astara (Azerbaijani city) line will be constructed by Moscow, Tehran, and Baku.