JSC Russian Railways has joined the financing of the construction of the international transport corridor North-South. The agreement was reached during the trilateral meeting in Baku on July 1, with the participation of representatives of the railway departments of the Russian Federation, Iran and Azerbaijan, Turan was told in the press service of the Azerbaijan Railways.
During the meeting in Baku the sides discussed the conditions of the Russian Railways participation in the financing of the railway section Rasht - Astara (Iran) - Astara (Azerbaijan). As a result, an appropriate document was signed. The details of the agreement are not disclosed.
In March of this year Azerbaijan began to build a single-track railway from the Astara station to the state border with Iran, with the length of 8.3 km. The construction of a railway bridge over the river Astara (82.5 m) is conducted simultaneously.
The agreement on the international transport corridor North-South was signed between Russia, Iran and India in September 2000. Azerbaijan joined the document in 2005. -----08D
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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