Tashkent, Uzbekistan (UzDaily.com) — A Memorandum of Understanding aimed at developing transit cooperation between Iran and Uzbekistan was signed in Tehran.

The signing ceremony took place during the 13th meeting of transport ministers from the member countries of the Economic Cooperation Organization (ECO), held in the Iranian capital.

The document was signed by Iran’s Minister of Roads and Urban Development Farzon Sadik, Uzbekistan’s Minister of Transport Ilkhom Makhkamov, and the head of Iran’s Ports and Maritime Organization Saeed Rasouli.

According to the memorandum, the parties intend to create favorable conditions for the participation of Uzbekistan’s private sector in investments in the Iranian port of Shahid Rajaee, as well as in the construction of a specialized terminal and logistics center.