Transcontinental country, Azerbaijan and Iran announced that the Astara Cargo Terminal aims for completion of construction works by 2025. In attendance, during the project’s meeting was Shahin Mustafayev, Azerbaijan’s Deputy Prime Minister, Co-Chairman of the Station Commission for Economics, Trade, and Humanitarian Cooperation. On the other hand, Iran’s Minister for Roads and Urban Development was also present.
In regards to the region’s transit sector, the two parties placed emphasis on the significance of developing its great potential. Furthermore, the parties agreed that it is essential to accelerate the implementation of projects geared toward diversifying transport communications. The meeting’s discussions concluded that maximum effort and consistency will be invested in ensuring timely delivery of the Astara Cargo Terminal project.
Read Also:Â Ganjlik Mall is the largest shopping centre in Azerbaijan
Azerbaijan & Iean’s Commitment To The Astara Cargo Terminal Project
The terminal development is as a result of an MoU (Memorandum of Understanding) between Azerbaijan and Iran, signed on March 11, 2022. As per the agreement, new communication links between the two countries will be created. This includes the Nakhchivan area through the territory of Iran and the Eastern Zangezur economic region. Moreover, the MoU agreement also features the building of four bridges over the Araz River. In addition to two railways, that will further develop energy as well as communication supply infrastructure.Â
As a whole, the Astara Cargo Terminal project strives to serve as a contribution towards overall trade growth. Additionally, the project will also include the construction of border and customs infrastructure, right along the road bridge over River Astarachay.
Reports noted that the trade turnover between Iran and Azerbaijan in total, amounted to $212.6 million from January through May 2023. A 2022 comparison of the same period revealed that the trade turnover observed a 7.6% increase. Official reports further revealed that the exports from Iran to Azerbaijan got to $205 million.Â
