If implemented, this major project with geopolitical ambitions could pave the way for a major transit route from India to Eastern Europe, strengthening trade ties between Asia and Europe, including increasing Armenia’s economic and political weight in the region. The Iranian Embassy in Armenia informed Armenpress that the agreement on the Persian Gulf-Black Sea transit corridor may be approved at the next meeting of the participating countries in Sofia.

    This is a major international project aimed at economically connecting the ports of the Persian Gulf and the Black Sea. Iran put forward this idea back in 2016. Then official Tehran announced that all three republics of the South Caucasus would be included in the program, and Armenia could become one of the ways. However, well-known events in the region in recent months have shown that Azerbaijan is excluded from the project. Instead, the Republic of Armenia is actively participating in the program.

    According to the Embassy of the Islamic Republic of Iran in Armenia, Armenia, Georgia, Greece and Bulgaria are also participating in the initiative in addition to Iran. However, other countries of the Persian and Oman Gulfs, including India, one of the largest economies in the East, may join the project, which will significantly expand the geography of the Asia-Europe trade corridor. Armenia, in turn, could become one of the possible links between the remote Iranian port of Chabahar or Bandar Abbas with Bulgaria and Greece, primarily through the North-South road under construction. Iran appreciates Armenia’s efforts in this direction.

    The Embassy informs that in the five years since Iran took the initiative in 2016, five rounds of negotiations have been held. According to the source, the delegations of Iran, Armenia, Georgia, Bulgaria and Greece took part in the 5th round of negotiations in 2021, the meeting held in Yerevan. “The Republic of Azerbaijan was absent from this meeting,” the Iranian Embassy added. 

According to the embassy, during the 5th meeting in Yerevan, the parties expressed a desire to finalize the text of the agreement, and constructive agreements were reached on the tasks of some points of the project.

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