New Initiative by the Iranian Shipping Association: Signing of North-South Corridor Development Agreement with Russia

Tehran, June 18, 2024 – The Iranian Association of Shipping and Related Services has signed a memorandum of understanding (MoU) with the Caspian International Integration Club “North-South” of Russia to enhance mutual cooperation. This MoU aims to facilitate business operations for Iranian and Russian shipping companies and promote maritime economic collaboration between the two countries.

The MoU, signed by Mr. Masoud Polmeh, Secretary-General of the Iranian Association of Shipping and Related Services, and Mr. Dmitry Dubovik, President of the Caspian International Integration Club “North-South,” outlines a series of joint actions and initiatives designed to boost the maritime economy between Iran and Russia.

Main points of the MoU include:

1. Establishment of a Joint Maritime Arbitration and Legal Services Center: This center will be created to resolve legal disputes and provide legal advisory services to Iranian and Russian maritime companies.
2. Creation of a Joint Maritime Commercial and Specialized Training Center:This center will offer educational services to Iranian and Russian maritime business professionals to enhance their knowledge and skills.
3. Provision of Consultancy Services for Maritime Business Development: These services aim to connect Iranian and Russian maritime companies and address their managerial needs.
4. Development of a Maritime Commercial and Economic Information Database: The goal of this initiative is to increase commercial and economic maritime interactions and collaborations between Iran and Russia.
5. Efforts to Establish a North-South Corridor Secretariat in Iran: This secretariat will be created to coordinate among the member countries of the maritime corridor.