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What is The International North–South Transport Corridor (INSTC)

Chapter 15
Regional Integration and Future Cooperation Initiatives in the Eurasian Economic Union
A 7,200-km-long multi-mode network of ship, rail, and road route for moving freight between India, Iran, Afghanistan, Armenia, Azerbaijan, Russia, Central Asia and Europe.
Published in Chapter:
Eurasian Economic Union and Iran: From Negotiation Process to the Operation of the Free Trade Zone
Ahmad Vakhshiteh (Peoples' Friendship University of Russia, Russia)
Copyright: © 2020 |Pages: 16
DOI: 10.4018/978-1-7998-1950-9.ch015
Abstract
The EAEU and Iran signed an Interim agreement on the creation of Free Trade Zone in May 2018. This agreement is opening a new stage in the development of relations at the bilateral and multilateral levels. The document was concluded for three years and provides for the reduction or cancellation of import customs duties on a broad list of goods. This chapter analyzes the negotiation process for the creation of Free Trade Zone, as well as promising areas of cooperation between the EAEU and Iran. The Eurasian Economic Union is interested in developing a special relationship with Iran not only in trade but also in the development of the infrastructure of the International North-South Transport Corridor. The chapter also provides an analysis of the Anzali Free Trade Zone as one of the most successful and rapidly developing economic zones of Iran and an important link in the development of the International North-South Transport Corridor.
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