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06-06-23

Iran Expands Maritime Fleet in Caspian Sea to Boost Trade Relations

(MENAFN) Iran has recently bolstered its trade maritime fleet in the Caspian Sea with the addition of 15 ships, signaling the country's growing trade ties with Russia and other nations located to its north. The move comes as Iran's Transport and Urban Development Ministry, with its subsidiary, the Ports and Maritime Organization (PMO), prioritizes the expansion of its commercial vessel fleet in the northern region.

Ali-Akbar Safaei, the head of Iran's PMO, highlighted the increasing volume of trade with neighboring countries to the north as the driving force behind the ministry's focus on expanding the fleet and enhancing capacity in the Caspian Sea. Safaei emphasized that this expansion is essential to cater to the growing demand for trade in the region. He further revealed that Iran's Caspian Sea merchant fleet is poised to expand further in the near future, with the introduction of new ships from the Volga River.

The decision to expand Iran's maritime fleet in the Caspian Sea aligns with the surge in shipping activity witnessed in the region, driven by increased exports and imports by Russia and other countries through Iran's southern ports. Notably, the International North-South Transport Corridor (INSTC) has emerged as a crucial trade route, connecting the Persian Gulf and the Indian Ocean to nations north of Iran via the country's road and rail transportation network.

Media reports and statements from Iranian authorities have underscored the notable growth in trade facilitated by the INSTC. This corridor has emerged as a vital conduit for trade, allowing countries located north of Iran to access the Persian Gulf and the Indian Ocean. As a result, Iran's southern ports have witnessed heightened trade activity, with Russia and other nations significantly ramping up their exports and imports through these ports.

With the expansion of its trade maritime fleet in the Caspian Sea, Iran is poised to further strengthen its trade relations with Russia and other countries in the northern region. The increased capacity and efficiency of the fleet will enable Iran to better facilitate trade flows and capitalize on the growing demand for transportation services in the Caspian Sea. By leveraging its strategic geographical position and enhancing its maritime capabilities, Iran is positioning itself as a key player in the regional trade landscape and reinforcing its commitment to promoting economic cooperation and connectivity.
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