Russia, Iran, and Azerbaijan sign memorandum on North-South corridor development

A memorandum of understanding has been signed between Azerbaijan, Iran, and Russia. The agreement provides for the harmonization of customs procedures, the creation of a single comprehensive tariff, the launch of regular block trains, and the improvement of transport operations along the North-South route.

The introduction of these mechanisms is expected to create a more predictable, faster, and cost-effective logistics chain between the three countries. In addition, this agreement creates favorable conditions for the stable growth of transit flows in the region.