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Iran - shortest road for Azerbaijan to Europe, Asia, Gulf and Africa

Iran - shortest road for Azerbaijan to Europe, Asia, Gulf and Africa

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Date: 24 December 2015 08:07

Baku, Azerbaijan, Dec. 23

By Farhad Daneshvar – Trend:

Recently Tehran and Baku signed a memorandum of understanding (MoU) to join the railways of Iran and Azerbaijan, Iranian ambassador to Azerbaijan Mohsen Pak-Ayeen told Trend.

Pak-Ayeen said the MoU which was signed during “Astara-Rasht meeting” in Iran will eventually revive the “Silk Road”.

Pak-Ayeen believes that the implementation of the project will help Azerbaijan to become a key player in the regional transport sector.

He also added that the implementation of the railway project may contribute to Azerbaijan’s goal to increase its revenues from non-oil sector.

During a meeting in Tehran between Shahin Mustafayev, the Azerbaijani Minister of Economy and Industry and his Iranian counterpart Mahmoud Vaezi, it was agreed to create a consortium aimed at providing financing for the project.

The envoy said that the consortium will discuss financing the project with two Azerbaijani banks. However, he did not disclose any information about the banks.

The envoy further added that access to the world through Iranian roads would be economically beneficial for Azerbaijani transport system.

Saying that there are four active border checkpoints between Iran and Azerbaijan, he added that the Islamic Republic is the shortest route for Azerbaijan to reach Europe, Asia, the Persian Gulf and eventually Africa.

Meanwhile Iranian roads enjoy high security which is considered an advantage, the ambassador said, adding that both countries would benefit from joining efforts to cooperate and invest in constructing transport routes.

Iran and Azerbaijan should invest in major transportation projects before the start of a new phase of economic crisis in the world in order to become capable of playing a key role in the transport sector in the region, Pak-Ayeen concluded.

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