2021-April-21 04:05
Economy
2020-November-23  14:09

Iran Activates North-South Maritime Route

TEHRAN (FNA)- Iranian Customs Administration (IRICA) announced that the North-South Corridor's maritime route began its activity by sending the first ship from Iran to Kazakhstan.

Managing Director of Iran’s Customs Administration (IRICA) Transit Bureau Mostafa Ayati said that with the first ship moving from Amirabad port of Mazandaran province on Monday, November 16, and docking in Kuryk port of Kazakhstan, the goods transit via the North-South Corridor has become practical.

The North-South Corridor is one of the strategic routes in the East. Iran, India, and Russia signed an agreement in 2000 to use it.

It was activated under the Convention on International Transport of Goods under Cover of TIR carnets (TIR Convention). TIR Convention is a multilateral treaty that was concluded at Geneva on November 14, 1975 to simplify and harmonize the administrative formalities of international road transport.

The North-South Corridor is the most notable trade link between Asia and Europe, which is up to 40% shorter and nearly 30% cheaper than traditional routes in terms of time and distance respectively.

In relevant remarks in December 2019, former Iranian Minister of Industry, Mine and Trade Reza Rahmani underlined the important role of North-South Corridor in enhancing trade exchanges among regional countries in the North of Iran and South of the Persian Gulf and North African states.