Mohammad Reza Izadian also told Trend that Iran’s import from the CIS for March 20-Nov. 12, 2016, hit $1.5 billion, a 133% increase from the same period of a year earlier. “We have been holding joint economic commissions with Russia, Belarus, Azerbaijan, Uzbekistan, Kazakhstan and Armenia, and are also pursuing preferential trade with the Eurasian region,” Izadian said. “One of the key topics, which will help forge regional trade integration, is the International North-South Transport Corridor, through which we hope to see great development in export services,” he added.
Currently under construction, the INSTC will connect Iran and Russia via Azerbaijan, providing road access from Indian Ocean countries to Europe and Central Asia, according to Financial Tribune.