Iran signs agreement in Russia to facilitate trade via INSTC
IRNA - Islamic Republic News Agency
Apr 20, 2023
Moscow, IRNA -- Iran has signed a trilateral memorandum of understanding (MoU) in Russia to facilitate cargo transit through its territory, especially via the International North-South Transportation Corridor (INSTC).
The MoU was signed in Russian capital Moscow on Thursday between the Iranian National Transportation Development Fund, the International Coordinating Council on Trans-Eurasian Transportation, and the Business Center for Economic Development of the Commonwealth of Independent States (CIS).
The document was signed in the presence of Russia's Deputy Transport Minister Dmitry Zverev and Iran's Ambassador to Moscow Kazem Jalali.
The three parties to the MoU will cooperate to increase trade, transit and storage of goods on international corridor routes, especially through the INSTC.
To achieve those goals, the parties will exchange information and expert delegations and will conduct joint ventures in the future.
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