Bulgaria Recognizes Middle Corridor's Importance For EU-Asia Freight Transportation - Ambassador

2024-07-01 09:18:37

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 1. Bulgaria is showing interest in the Trans-Caspian International Transport Route (TITR, or Middle Corridor), recognizing its important role in ensuring the freight supply chain from Asia to the EU and back, Bulgarian Ambassador to Azerbaijan Ruslan Stoyanov said following the sixth meeting of the intergovernmental committee between the countries in Baku, Trend reports.

"Transportation is a key area for cooperation with Azerbaijan, encompassing sea, air, and land. Both Bulgaria and Azerbaijan occupy strategically favorable locations between Europe and Asia, underscoring the importance of developing the Middle Corridor," the ambassador stated.

The supply of oil products from the Caspian Sea region to the Eurozone via TITR is particularly significant.

According to the Bulgarian ambassador, there are numerous opportunities to expand bilateral cooperation, especially in the non-oil sector.

To note, TITR has been operational since 2014, but interest from EU and Asian countries has surged over the past two years due to new geopolitical dynamics.

In 2023, 2.7 million tons of cargo passed through TITR, with projections for 2024 exceeding 4.2 million tons.

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