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New Eurasian Integration Routes to be Discussed at the Business Forum “Strategic Partnership 1520: The Caspian Region” in Baku

The city of Baku will host the Strategic Partnership 1520: The Caspian Region international rail business forum on November 24–25, 2016.

The key discussion topic at the Forum will be the development of the North–South International Transport Corridor (North–South ITC), which was identified at the first ever trilateral summit of the leaders of Russia, Azerbaijan and Iran in August 2016 as the flagship project of the Caspian Region. The new route could reduce the average delivery time of cargo between Mumbai and St. Petersburg to 14 days, eliminating the need to use the traditional route via the Suez Canal.

The Forum will also focus on cooperation in the 1520 space in mechanical engineering, infrastructure construction and the development of multimodal transport. 

The Memorandum on the joint development of the North–South ITC was signed by the heads of Russian Railways, Islamic Republic of Iran Railways and Azerbaijan Railways during the “Strategic Partnership 1520” international rail forum held in Sochi this past June. Speaking at the Forum, President of Russian Railways Oleg Belezyorov noted that freight transport along the North–South ITC had increased significantly since the sanctions against Iran were lifted. “In the first four months of 2016, freight transport between Russia and Iran increased by one quarter, more that 25%,” Mr. Belezyorov said. “I am sure that we have huge potential: not hundreds of thousands, but rather millions of tonnes.”   

The Strategic Partnership 1520: The Caspian Region international rail business forum will be attended by the heads of national railway companies, major multimodal hubs in the Eurasian space and leading transport, logistics and machine building enterprises, as well as by representatives of specialized government agencies in Azerbaijan and Russia. 

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International Rail Business Forum 1520 Strategic Partnership is a unique platform for working together to find effective solutions to the most pressing issues faced by the rail sector that affect each and every player on the transportation market: industrial enterprises, transport and logistics companies, rail carriage and locomotive manufacturers, and small and medium-sized businesses. The event’s business agenda includes over 20 discussion and interactive participation formats. It is attended by around 1400 experts from more than 30 countries. The audience is made up of leading transport companies from Russia, the CIS and the European Union. Major international agreements on the strategic development of the 1520 Space, as well as contracts for the supply and maintenance of railway equipment are signed at the Forum every year.

General Forum Partner – JSC Russian Railways.
Organizer – LLC Business Dialogue.

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