ASTANA, Kazakhstan, April 3. The International North-South Transport Corridor (INSTC) is of exceptional importance for the implementation of plans for the restructuring of Eurasian routes, the Eurasian Development Bank (EDB) said, Trend reports.
According to the EDB, this corridor is an integrated transport route that connects the northwestern part of the Eurasian Economic Union (EAEU) with the states of Central Asia, the Persian Gulf region, and the countries of the Indian Ocean.
As the bank highlighted, crucial for the corridor's development is enhancing soft infrastructure, particularly in harmonizing border crossing procedures, coordinating tariff policies, and implementing digital tools.
The foundation of the INSTC was laid based on an intergovernmental agreement signed between Russia, Iran, and India on September 12, 2000.
In total, 13 countries (Azerbaijan, Belarus, Bulgaria, Armenia, India, Iran, Kazakhstan, Kyrgyzstan, Oman, Russia, Tajikistan, Türkiye and Ukraine) have ratified the agreement.
The North-South corridor includes various modes of transport: rail, road, and inland waterways. The infrastructure of this route provides flexibility and a variety of transport routes. The corridor also facilitates international trade and the development of cooperation between the regions it connects.