(MENAFN- Trend News Agency) ASTANA, Kazakhstan, December 1. Minister of
National Economy of Kazakhstan Alibek Kuantyrov held a meeting with
representatives of the World Bank, where the development of the
Trans-Caspian International transport Route (TITR, or Middle
Corridor) was discussed, Trend reports.
A team of World bank consultants presented key findings from
their study - The Middle Trade and Transport Corridor - Policies
and Investments to Triple Freight Volumes and Halve travel Time by
2030, which focuses on Kazakhstan, Azerbaijan, and Georgia,
identifies priority measures that can transform this multimodal
rail and maritime corridor into a vital and dependable trade
route.
The report notes that with the right investments and policies,
the Middle Corridor could help triple trade volumes while halving
travel time along the route by 2030.
As the report says, the Middle Corridor's significance and
strength lie in the benefits it can bring as an intraregional trade
corridor. Increased trade between Azerbaijan, Georgia, and
Kazakhstan and Europe are the key drivers of demand: including a
37-percent increase in intra-region trade and a 28 percent increase
trade between these countries and the European Union.
Alibek Kuantyrov noted that the priority areas of the report
will make it possible to diversify the main flows and create more
potential for the development of international trade.
According to him, TITR is one of the most promising routes
taking into account the current logistics situation.
The Middle Corridor is a transportation and trade route that
connects Asia and Europe, passing through several countries in the
region. It is an alternative route to the traditional Northern
Corridor and Southern Corridor.
The route starts in China and crosses Central Asian countries
such as Kazakhstan, Uzbekistan, and Turkmenistan. It then passes
through the Caspian Sea, Azerbaijan, Georgia, and Türkiye before
reaching Europe.
The Middle Corridor offers a land route that connects the
eastern parts of Asia, including China, with Europe, bypassing the
longer maritime routes.
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