Russia has been negotiating on foreign vessels within the framework of
talks on WTO membership, Russian Transport Minister Igor Levitin said
in Baku, Trend reports.
Azerbaijan has no access to the Volga-Don canal from the Caspian Sea
and uses permissions from the Russian government. This is a
disadvantage to both sides, the minister believes.
The canal allows freighting of 11 million tons of cargo annually. The
canal is being modernized.
Levitin said that Azerbaijan, Russia and Iran plan to finance
construction of railways for the North-South corridor. The three
states have a memorandum of understanding.
The railway authorities of Azerbaijan, Russia and Iran signed a joint
deal on the North-South corridor in Tehran on February 7.
The headquarters of the project will be located in Moscow, offices
will be opened in Baku and Tehran.
Construction of the railways will cost $400 million. Investments will
come from banks and other financial institutions.
The railway will transport 6 million tons of cargo annually. The
capacity will be raised to 15-20 million tons annually.
