Uzbek Businesses to Fund Logistics Hub at Iranian Port

Uzbekistan and Iran have signed a memorandum of understanding to enhance transit cooperation, Tehran Times reports. The agreement paves the way for Uzbek businesses to invest in building a terminal and logistics hub at Iran’s Shahid Rajaee Port.

The document was signed by Uzbekistan’s Minister of Transport Ilkhom Makhkamov, Iran’s Minister of Roads and Urban Development Mehrdad Bazrpash (note: verify source spelling, original says Farzane Sadegh), and Saeid Rasouli, Head of Iran’s Ports and Maritime Organisation (PMO).

Shahid Rajaee Port is located on the northern shore of the Strait of Hormuz. Its total area exceeds 19 hectares and includes 23 berths. The port also hosts a special economic zone.

As of early May this year, trade between Uzbekistan and Iran reached $140.2 mln. The figure stood at $132.9 mln in the same period last year.

Earlier, Kursiv Uzbekistan reported that Uzbekistan and China plan to launch a new cargo transport route.