Russian, Iranian, Azeri Leaders Discussed North-South Transport Project in Baku

Leaders of Russia, Iran and Azerbaijan discussed the International North-South Transport Corridor (INSTC) project at a recent trilateral summit in Baku, Azerbaijani President Ilham Aliyev said.

BAKU (Sputnik) — On August 8, Russian, Iranian and Azerbaijan presidents, Vladimir Putin, Hassan Rouhani and Ilham Aliyev respectively, held the meeting in Baku. According to Aliyev, the talks were intense and the presidents of the three countries managed to discuss a wide range of international issues, as well as certain issues of regional cooperation.

"Azerbaijan takes part in the implementation of INSTC. On Monday, Baku hosted the trilateral summit of the Azerbaijani, Russian and Iranian presidents. This project was thoroughly discussed at the meeting. The implementation of this project will bring hundreds of millions dollars to our country," Aliyev said as quoted by his press service.

The North-South Transport Corridor project aims to reduce the costs and the time of ship, rail and road deliveries to and from Russia, India, Iran, Azerbaijan and other countries located along the route.

Rouhani proposed to hold the next trilateral meeting in Iran. Transport, Energy and Foreign ministers of the three countries are expected to hold a meeting in Tehran as part of the preparations for the event.