News Brief
Russia Emphasises INSTC For Trade With India, Putin Urges Azerbaijan To Take More Active Role
Bhuvan Krishna
Apr 23, 2024, 03:53 PM | Updated 03:52 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Bhuvan Krishna is Staff Writer at Swarajya.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.