Economy & Politico

good news iran: ‘North-South Corridor good alternative to Suez Canal’

The Corridor can be used for transferring commodities and energy between the Far East and Europe, said Kazem Jalali in an interview with the Russian daily Vedomosti.

He urged governments involved in the Corridor to pave the ground for completing all parts of the multi-state project to turn it into one of the most attractive transportation routes in terms of security, policy and especially economy.

The Iranian envoy noted that Iran has attached importance to the development of infrastructure of parts of the INSTC, where are located in Iran, adding that Iran cooperates with other neighboring countries to speed up the construction project, which seems a proper alternative to the Suez Canal in transferring goods and energy.

The countries involved in the INSTC have held several meeting to discuss ways to complete infrastructure needed to become the international project operational, Jalali highlighted.

INSTC is an international multi-mode of ship, railway and road route, which connects Russia and Eastern Europe to India and China through Iran.

The Suez Canal is 163 kilometers long and 10 to 12 percent of global Maritime transport goes through the canal.

A one-week blockage of the Suez Canal by a giant 250,000-ton container ship showed the world that the global trade needs to find alternative routes such as the North-South Corridor via Iran.



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