Azerbaijan And Its Neighbors Make Significant Progress In Middle Corridor Development - Emerging Europe

12/4/2023 10:09:46 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 4. Azerbaijan, Georgia, and Kazakhstan, along with other countries, have made significant progress in harmonizing their vision for the development of the Middle Corridor, an article published by Emerging Europe, a London-based think tank said, Trend reports.

The analysis says that with the right policies, the Middle Corridor, which connects markets in China and Europe via Central Asia and the Caucasus, could boost regional trade and increase connectivity among countries along the route.

Citing a World bank report, the article said that with the right investments, the Middle Corridor could triple trade volumes and halve travel time along the route by 2030. This will benefit local and regional economies and wider communities by creating employment opportunities, stimulating demand for supporting industries, and attracting business.

The article also said that a roadmap was signed between Azerbaijan, Georgia, Kazakhstan, and Türkye in November 2022, listing priority investments and actions needed to improve operations along the Middle Corridor. In June 2023, Azerbaijan, Georgia, and Kazakhstan also agreed to establish a joint logistics operator for the route.

The Middle Corridor links cargo rail freight networks of China and the European Union through Central Asia, the Caucasus, Türkiye, and Eastern Europe.

The multilateral multimodal transportation infrastructure links the ferry terminals of the Caspian and Black Seas with the railway systems of China, Kazakhstan, Azerbaijan, Georgia, Türkiye, Ukraine, and Poland.

Stay up to date with more news on Trend News Agency's WhatsApp channel

MENAFN04122023000187011040ID1107532693

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.