Iran, Turkiye agree to build key trade rail link

TEHRAN: Iran and Turkiye have agreed to begin constructing a new joint rail link to serve as a strategic gateway between Asia and Europe, Iranian Foreign Minister Abbas Araghchi said Sunday.

The planned route, known in Iran as the Marand-Cheshmeh Soraya railway transit line and running towards Turkiye’s Aralik border region, will cover around 200 kilometres (120 miles}.

It will cost roughly $1.6 billion and is expected to take three to four years to complete, Iranian authorities have said.

Earlier this month, Iran’s transport minister Farzaneh Sadegh said the rail line would transform the southern section of what was once the Silk Road into an “all-rail corridor ensuring the continuity of the network between China and Europe”.

It would also ensure “fast and cheap transport of all types of cargo with minimal stops”, she added.

At a joint press conference on Saturday with his Turkish counterpart Hakan Fidan, Araghchi said “emphasis was placed on the need to remove barriers to trade and investment between the two countries”.

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“The two countries also stressed the importance of the rail link … in the region and expressed hope that the construction of this line can start as soon as possible,” he added.

The ancient Silk Road was a vast system of trade routes that for centuries linked East Asia to the Middle East and Europe, facilitating the flow of goods, culture and knowledge across continents.

In 2013, China announced the construction of the “Belt and Road Initiative”, officially known as the “New Silk Road” – a project that aims to build maritime, road, and rail infrastructure to boost global trade.

Iran has been seeking to expand infrastructure and trade with neighbouring countries as part of efforts to revitalise an economy strained by decades of international sanctions.