(MENAFN- AzerNews)
Abbas Ganbay Read more
A regional event is being held today in the Georgian capital
Tbilisi on the recently published World bank study "The Middle
Trade and transport Corridor: Policies and Investments to Triple
Freight Transport and Halve Transit Time", Azernews reports.
The event brings together representatives of the governments of
Georgia, Azerbaijan, Kazakhstan, and Armenia, as well as
representatives of state-owned enterprises, the private sector, and
think tanks, to discuss the main findings of the World Bank
study.
The objective is to develop a regional approach to improve the
operational efficiency of the corridor and overcome existing
challenges.
Azerbaijan is represented at the event by Deputy Minister of
Digital Development and Transport Rahman Gummetov and Head of
Department of Baku International Sea Trade Port CJSC Khudayar
Hasanli.
The World Bank's study "Middle Trade and Transport Corridor:
Policies and Investments to Triple Cargo Volume and Halve Transport
Time by 2030" and the study "Digitalization of the Middle Corridor"
will be presented at the event.
The World Bank report identified measures that can make the
Middle Corridor an important and reliable trade route. It was
reported that the Middle Corridor could triple the volume of goods
transported between 2021 and 2030, while cutting transit time in
half.
With careful and rigorous coordination of investments and policy
measures, the Middle Corridor can provide some degree of economic
and geopolitical stability for transcontinental trade.
As a reliable route, the corridor will help unlock the trade and
development potential of Central Asia and the South Caucasus, and
integrate these regions with China, Europe, and the world through
access to ports.
Recall that the "Middle Corridor" was established in February
2014 with the participation of relevant structures from Azerbaijan,
Kazakhstan, and Georgia. Later, Ukraine, Romania, and Poland joined
the project. Currently, the route starts from the China-Kazakhstan
border and passes through the territory of Kazakhstan, the Caspian
Sea, Azerbaijan, and Georgia to Europe. A single tariff has been
created along the entire route, and the "one-stop-shop" principle
is applied.
In 2023, 2 mln 750 k tons of cargo will be transported along the
Middle Corridor, which is 64% more than in 2022.
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