Economy, Domestic Economy

MoU will Help Azeri Transport Ties

MoU will Help Azeri Transport TiesMoU will Help Azeri Transport Ties

Iran signed a memorandum of understanding (MoU) with Azerbaijan to expand transit and transportation cooperation with the northern neighbor, IRNA reported on Saturday.

The MoU was signed by Iran’s deputy minister of road and urban development, Davoud Keshavarzian, and his Azerbaijani counterpart, Aref Asgarev as part of an official meeting in Baku. The two officials agreed to build a new bridge in Astara border crossing and lower the transportation tolls.

Noting that the two countries enjoy good cooperation in the area of transportation, Keshavarzian said: “Every year, more than 40,000 trucks cross the borders from Iran to the Republic of Azerbaijan and over 45,000 trucks enter Iran from Azerbaijan.”

The official also emphasized the significance of reducing transportation tolls in promoting trade and expanding bilateral economic ties.

Asgarev, for his part, stressed the need for developing rail and road transportation between the two countries, expressing hope that the deal would further boost mutual cooperation in the area of transportation.

Calling for the completion of Rasht-Astara railway, he noted that the railway would not only connect the Republic of Azerbaijan to Bandar Abbas in south of Iran, but also paves the way for transferring European goods to the Persian Gulf and Sea of Oman.