News Brief
Russia Emphasises INSTC For Trade With India, Putin Urges Azerbaijan To Take More Active Role
Representative Image (Source: william william/Unsplash)
Russia has urged Azerbaijan to take a more active role in boosting the International North-South Transport Corridor (INSTC), a vital trade route connecting India and Russia.
INSTC serves as a key transport link between Mumbai and St Petersburg via Iran, with future plans to connect it to the North Sea Route of the Arctic and the Chabahar Port.
Azerbaijan's progress in fully implementing INSTC has been slow, despite the corridor contributing to the growth of India-Russia trade since 2022, as per a report by The Economic Times.
Armenia has also expressed interest in developing a branch of INSTC. Additionally, the Kazakhstan-Turkmenistan and Iran-Caspian Sea routes serve as other branches of the corridor.
During a joint meeting with Azerbaijani President Ilham Aliyev in Moscow, Russian President Vladimir Putin invited all interested countries to participate in the development of INSTC.
Putin emphasised that, similar to the Baikal-Amur Mainline (BAM) project which served all Soviet Union republics, INSTC should be a model of broad international cooperation.
Putin highlighted the significance of INSTC, likening it to the BAM in terms of scale. He noted that INSTC connects the Northern Sea Route to the Persian Gulf, serving the economic and social development needs of Eurasian and Global South countries.
Putin also indicated that Russia's partners in the BAM and Trans-Siberian Railway upgrade could gain access to the growing Asia-Pacific markets.
Russia is prepared to offer access to these markets to its partners, intending to upgrade the BAM, Trans-Siberian Railway, and develop the eastern range of railroads using advanced technologies.
Implementing these plans is crucial for strengthening Russia's connectivity and ensuring its political and economic sovereignty, according to Putin.
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