The agreement was signed on Tuesday after holding talks and exchanging ideas about technical and economic aspects of the project, as well as facilitation of goods transportation. 
The agreement was signed by Saeed Mohammadzadeh, Mamuka Bakhtadze, and Javid Gurbanov respectively the heads of Islamic Republic of Iran Railways, Georgian Railways and Azerbaijan Railways.
In the meeting held in the Iranian embassy in Tbilisi, Mohammadzadeh said that not only the three mentioned countries but also other countries and companies that use the corridor can gain from it.
The Black Sea is a highly strategic body of water that is located in Eastern Europe and Western Asia, bounded by Bulgaria, Georgia, Romania, Russia, Turkey, and Ukraine. 
It is connected to the Mediterranean through the Sea of Marmara and to the Sea of Azov through the Kerch Strait.