Tehran, Baku in Talks over Financing Joint Railroad

Iran and Azerbaijan are in talks on how to finance the Astara-Rasht railroad project, Azeri Economic Development Minister Shahin Mustafayev said on Friday.

Addressing a press conference in Baku, Mustafayev pointed to the agreement between Iran and Azerbaijan on financing the railway project, saying, despite the current international political conditions, talks are still underway to remove the hurdles challenging the plan.

Iran and Azerbaijan share 765 kilometers of borderlines and the two countries have announced at numerous occasions that are determined to boost bilateral ties.

In relevant remarks in late March, Iranian President Hassan Rouhani underlined that expansion of mutual cooperation between Tehran and Baku would not be harmful to any third party state.

"I am delighted that with the extensive efforts of senior officials from both countries, we are witnessing the good results of our joint cooperation today; cooperation which benefits not only the two nations, but the whole region," President Rouhani said.

The Iranian president pointed to the North-South Transit Route, and said, "This corridor which is contributed to by both countries of Iran and Azerbaijan by putting into practice the Rasht-Astara railway project, acts as a more convenient, cheaper and shorter route for the two the countries of Iran and Azerbaijan, the countries of the region, and even for Asia, Europe and Africa."

"It means that our cooperation is in the interests of the people of the region and the whole world,” President Rouhani added.

He also referred the establishment of free trade between the two countries as a step in the direction of high mobility in economic relations between the two countries, and said, "First, we can start the free trade program with setting preferential tariff for some goods, and this move can affect the volume of trade between the two countries."

source: FARS News Agency