News in Brief
Exchange of goods between Iran, Azerbaijan to grow to 2m tons
With the inauguration of the Astarachay Bridge at the common border between Iran and Azerbaijan, the exchange of goods between the two countries will increase to two million tons, said the CEO of the Iran Construction and Development of Transportation Infrastructures Company.
Talking to IRNA, Kheirollah Khademi said boosting trade with neighboring states is one of the main plans of the Ministry of Roads and Urban Development.
The launch of new roads to these countries can help boost the infrastructures and increase economic exchanges to a great extent, the deputy roads minister maintained.
The Astara region is one of the highly-used transportation roads between the two countries which serves as a gateway of Iran to the Caucasus and European countries and Russia, he stated.
Negotiations were held under the framework of the Iran-Azerbaijan Joint Economic Cooperation Commission to increase the transit capacity via the common borders, he said, adding, “It is hoped that the newly-inaugurated Astarachay Bridge will help boost the exchange of goods and transit of passengers.”
A new bridge that connects Astara in northwestern Iran to the city of the same name in the southeast of the Republic of Azerbaijan was put into operation at the common border last week.
Petchem industry fetched Iran $61b in five years:
Official
Iran’s Association of Petrochemical Industry Corporation (APIC) secretary general said domestic petrochemical industry has fetched $61 billion over the past five years.
Ahmad Mahdavi Abhari added that some $50 billion of the earned revenues were deposited into the Integrated Forex Deals System, Shana reported.
Offering a great variety of petrochemicals, Iran is taking the best advantage of its rich hydrocarbon reserves, he underlined.
The petrochemical industry has also supplied 27 million tons of raw materials worth $26 billion to the downstream sector and 11 million tons of fertilizers to the agricultural sector since 2018, the
official noted.