Russia and Turkmenistan will collaborate on the further development of the International North-South Transport Corridor (INSTC) to mutual benefit, Russian Deputy Prime Minister Marat Khusnullin announced.
Speaking at the 13th meeting of the Russia-Turkmenistan intergovernmental commission on economic cooperation, Khusnullin highlighted the significant potential for transport development. “We see very great prospects for transport development. Turkmenistan's advantageous geographical position, with its connections to Central Asia and access to Pakistan, India and Iran, presents a major opportunity. We believe that the North-South corridor will, thanks to our joint efforts, operate more actively to serve the interests of both our countries,” he stated.
Khusnullin further elaborated to journalists that Turkmenistan effectively has sea access and gateways to the markets of Central Asia and the Middle East. “The development of railway, road and maritime connections is extremely promising for us,” he added.
The 13th meeting of the intergovernmental commission was held in Ashgabat on Monday. Khusnullin co-chairs the commission, with the Turkmen side headed by Deputy Chairman of the Cabinet of Ministers Nokerguly Atagulyev.
The agreement to establish the INSTC was originally signed by Russia, India and Iran in 2000, with its membership since expanding to 14 nations. The project's goal is to facilitate cargo flow from India, Iran, and the Persian Gulf states to Europe via Russian territory. This route cuts the distance by more than half compared to the maritime path through the Suez Canal, reducing both transit times and costs. The project currently integrates several distinct national transport systems.
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Photo: official website of the Rais RT
Based on materials from TASS