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Government spokesman and the head of the Management and Planning Organization of Iran, Mohammad Baqer Nobakht, has said that the 164-kilometer railway line will be inaugurated prior to the end of President Hassan Rouhani's current term in office in August.

President Rouhani assumed office in August 2013 for a four-year term in office.

Nobakht, who was inspecting the progress of the railway line, said that the project will contribute to the country's economic development.

The railroad is a part of the North South Corridor which will eventually link Northern Europe to Southeast Asia via Iran and Azerbaijan.

In the initial stage, the railway line is expected to transport five million tons of cargo annually via the North-South Corridor and this will increase to over 10 million tons.

In addition to its international aspects, the corridor will significantly reduce transportation costs as well as increase trade between Iran and Azerbaijan.

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Karapetyan was speaking in a meeting with the Head of Iran Customs Administration (ICA) Masoud Karbasian and the delegation accompanying him. He pointed out, "Iran is not only a friend for Armenia but it is also an excellent partner since both sides enjoy a high level of political relations."

He noted, "A great potential exists for developing and reinvigorating economic ties and customs collaborations could help further improve ties."

He said that at a cabinet meeting on Saturday, relevant ministries of his country were urged to form a working group to boost exports to and facilitate trade with Iran in addition to discussing prospects of establishing a free zone in the border areas with Iranian businessmen.

Karbasian congratulated Karapetyan on his appointment as prime minister of Armenia and wished him success and prosperity.

He later presented the outcome of his earlier negotiations with Head of State Revenue Committee of Armenia Vardan Harutyunyan, noting, "A series of coordination were made as well as that a memorandum of understanding on customs cooperation was inked.

"Electronic exchange of information and informing citizens of Armenia and Iran about customs regulations as well as cooperation and exchange of experiences between the free economic zones of the two countries all hold great significance which led to the signing of an MoU."

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