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Astrakhan hosts Russia-Iran talks on shipping co-op on Int'l North-South corridor

BAKU, Azerbaijan, May 16. Russian Astrakhan region representatives and Iranian Consul General in Astrakhan Mahdi Akochakian have discussed the operation of the new Astraport Shipping company in the Caspian Sea as part of the development of the International North-South Transport Corridor (INSTC), TurkicWorld reports via the press service of the government of the region.

"A meeting took place in Astrakhan involving the Minister of Industry, Trade, and Energy of Astrakhan Region, Ilya Volynsky, the Minister of External Relations of the region, Vladimir Golovkov, and the Consul General of Iran in Astrakhan, Mahdi Akochakian. Astrakhan's significance as a pivotal transportation and logistics hub along the International North-South Transport Corridor (INSTC) was highlighted. Akochakian underlined the active collaboration between Iran and Russia in advancing this INSTC," the press service says.

Volynsky emphasized that the primary route for cargo shipment through the Caspian Sea is from Iran. Efforts are ongoing to enhance cargo transit and clearance conditions through Astrakhan ports.

He also added that Astrakhan ports' overall cargo turnover for the first quarter of 2024 surpassed 1.4 million tons, marking a 78 percent increase compared to the same period last year.

To note, the International North-South Transport Corridor (INSTC) has been under development since 2000, involving 14 countries, with two branches leading to Iran and India.

Astraport Shipping LLC was established in 2023 within the territory controlled by the public joint-stock company Astrakhan Port, with shares held by Iranian CJSC Nasim Bahr Kish (53.1 percent), the Russian government (25 percent), and several private stakeholders.

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