Trade route through Iran linking Armenia, India planned to open soon
Abbas Ganbay
Read moreA trade route through Iran linking Armenia and India is planned to be opened by May 2024. This was announced by Armenian Economy Minister Vahan Kerobyan, Azernews reports.
"This is our goal, we have agreed to solve all issues by May this year to have a properly working trade route between the Indian port of Mumbai to Armenia via Iran (Chabahar port - ed)," Kerobyan said.
The Minister explained that the other day he met with his Indian counterpart, as well as the head of the company-operator of the Indian section of Chabahar port. The parties outlined an action plan to be implemented by May.
The proposed trade route is part of the International North-South Transport Corridor (INSTC), a 7,200-kilometer-long network of ship, rail, and road routes for moving cargo. The INSTC, originally decided between India, Iran, and Russia in 2000, aims to reduce the cost and transit time between India and Russia by about 30 percent and more than half, respectively.
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