The North-South corridor stretches from the European Union to the Suez Canal on the one side, and from the European Union to the ports of India and Pakistan on the other. Transportation costs through the corridor are expected to be reduced by 30-40 percent.
Uzbekistan has joined the North-South trade-logistics corridor. Association of Exporters of Uzbekistan has become the representative entity in the project.
“Uzbekistan's accession to the North-South transport corridor is an important agreement for the country's economy. Ukraine, Belarus, Azerbaijan, Turkmenistan, Egypt, Iran, Turkey, India and Pakistan are the members of this corridor from Europe and the CIS.
This project will allow us to cut logistics costs by up to 2 times. During the project, we plan to create a land port in Uzbekistan and carry out international trade and logistics transit. We hope that the project will help us to join the World Trade Organization,” said Mukhtor Umarov, chairman of the Association of Exporters of Uzbekistan.
This trade corridor is a major project, and in 2000 there was an agreement between Russia, Iran and India to establish it. Since 2002, this "green corridor" has been officially opened. Dozens of countries around the world are now its members.
The 7,200 km long transport corridor will reduce the delivery time from India to St. Petersburg by 30-40% or 20 days. In the future, it is planned to transport 15-20 million tons of cargo a year.