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03 February 2023, 13:44

PM: EAEU should be actively involved in INSTC project

An archive photo
An archive photo

MINSK, 3 February (BelTA) – All EAEU member states should be actively involved in the International North-South Transport Corridor (INSTC) project, Belarus' Prime Minister Roman Golovchenko said at a meeting of the Eurasian Intergovernmental Council in Almaty, BelTA has learned.

Roman Golovchenko focused on logistics and infrastructure. “We are in the middle of rearranging logistics corridors. Development prospects of our economies depend on whether logistics is functioning well and whether it is adapted to new geopolitical realities. In this regard, we should work on creating promising international transport corridors, such as the North-South and West-East corridors on the external contour, including corridors as part of our cooperation with the SCO and BRICS,” the prime minister said.

According to him, this involves serious transnational efforts. In order for the International North-South Transport Corridor to be a success, full-scale involvement of all participating countries is necessary.

“The Eurasian Agroexpress project holds a lot of promise, too. In our opinion, we need to figure out whether it will be competitive in relation to other routes. Therefore, we need to scrutinize the project in order to understand how we can improve it,” the Belarusian head of government added.

The prime minister noted that it is necessary to step up work with Iran and the United Arab Emirates within the framework of the transport corridor project taking into account the ongoing negotiations on a free trade zone with these states. This will help create the most smooth and comfortable transportation route to the Gulf ports.

“We need to address the problem of the missing infrastructure. Therefore, I would suggest that our Eurasian development institutions engage in a substantive dialogue with appropriate structures established by friendly countries and regional associations. For example, the New Development Bank established within the framework of BRICS,” Roman Golovchenko said.

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