(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 29. The World Bank
is prepared to support all countries along the Middle Corridor in
developing the capacities of this route, Rolande Pryce, WB Regional
Director for the South Caucasus, told Trend .
"One of the key findings is that by 2030, with the right
investments and policy reforms, there is the potential to triple
trade volumes along this corridor and halve the time. In the past,
the Middle Corridor wasn't as interesting due to a seamless route
through one large country to the north. However, given the current
geopolitics, it has become more interesting, but work needs to be
done in the areas of investments and policy reforms to make it
truly viable," she said.
As she noted, the WB's first step was to conduct the analysis,
and the report published as a result focused on Azerbaijan,
Kazakhstan, and Georgia as key actors within the Middle
Corridor.
"We identify specific actions needed to make travel seamless,
akin to moving through one large country. The first step involves
managing logistics solutions along the entire corridor. Travel
should not feel disjointed, such as stopping at the Georgian border
after going by rail through Azerbaijan. It should feel like a
smooth journey, regardless of the means of transport, as if moving
on a fast highway," she explained.
Meanwhile, the WB forecasts a substantial threefold increase in
transportation volume through the Trans-Caspian International
Transport Route (TITR), or the so-called Middle Corridor, by 2030.
In particular, the volume of cargo via the Caspian Sea is expected
to reach an impressive 11 million tons. This surge signifies a
remarkable 209-percent growth from the current figures.
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