WANA (Oct 14) –  Iran, Russia, and Azerbaijan are moving forward with plans to create the largest regional joint goods market and a free logistics corridor, an initiative that could transform Eurasia’s trade map.

 

As part of their ongoing trilateral cooperation to expand economic and transit ties, Alexey Overchuk, Russia’s Deputy Prime Minister, announced that the three countries are jointly working on establishing a unified market for goods and free logistics connectivity stretching from the Baltic Sea to the Persian Gulf.

 

Speaking at a recent trilateral meeting focused on developing cooperation in transport, energy, and customs, Overchuk said: “Moscow, Baku, and Tehran are seriously pursuing the formation of a joint market for the exchange of essential goods — a market built on harmonized regulations, shared standards, and streamlined trade and transit.”

 

He added that the implementation of this initiative could lead to the creation of barrier-free logistics infrastructure connecting the north and south of the region — including new transport routes, integrated customs systems, and standardized operational frameworks.

 

Overchuk emphasized: “To strengthen dynamic and sustainable relations among Iran, Russia, and Azerbaijan, we must establish a network of new transport routes to ensure that regional supply chains and exports function smoothly, without bottlenecks.”

 

He described the project as a strategic step to boost competitiveness among producers and exporters, noting that the creation of a joint goods market will not only foster economic growth but also generate new employment opportunities, increase income, and improve living standards.

 

These statements came during a trilateral meeting held on October 13 in Baku, attended by Farzaneh Sadegh, Iran’s Minister of Roads and Urban Development; Alexander Novak, Russia’s Deputy Prime Minister; and Shahin Mustafayev, Azerbaijan’s Deputy Prime Minister.

 

The three sides reaffirmed their goal of achieving an annual transit capacity of 15 million tons of goods within the framework of the International North–South Transport Corridor (INSTC).

Wana - North-South Corridor

North-South Corridor. Social media/ WANA News Agency