TRANSPORT CORRIDOR BETWEEN ASIA AND EUROPE

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As Inter-Governmental Agreement on International North-South Transport Corridor has been signed amongst India, Russia and Iran. There will be substantial saving in time and cost of transportation of goods by virtue of utilisation of the transport corridor from ports of India to Moscow passing through Iran and Caspian Sea. As per the preliminary indications, this corridor can facilitate about 20% reduction in delivery time and transportation cost. This agreement will come into force with its ratification by the tree countries. Implementation of the provisions of this agreement and the operationalisation of the transport corridor route will begin to take shape when the Coordination Council, which is the executive body to facilitate the implementation of the agreement, will be consituted and commences its functioning as provided in the agreement. This information was given in Rajya Sabha today by the Minister of State for Shipping Shri Shripad Y. Naik in a written reply to a question by Shri Nana Deshmukh.

 

 

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