(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 22. The Middle Corridor is quickly becoming a critical multimodal trade artery connecting East Asia with Europe via Central Asia, the Caspian Sea, and the South Caucasus, World Bank (WB) Regional Director for the South Caucasus Rolande Pryce said at the 1st Azerbaijan International Investment Forum in Baku, Trend reports.

"The Middle Corridor offers a politically neutral and sustainable alternative to traditional routes," she said.

According to her, the Middle Corridor is crucial for the economies of Central Asia and the South Caucasus.

"For Central Asia, it provides a vital gateway to global markets, which is critical for a region that currently accounts for only a small share of global trade," the regional director explained.

The WB representative added that this corridor is important for Türkiye and the South Caucasus countries because it leverages their strategic geographic location.

"As experts note, trade between countries along the Middle Corridor is projected to grow by 150 percent in value and 60 percent in volume between 2023 and 2040. Freight volumes along the Middle Corridor could triple by 2040, but bottlenecks in rail and port infrastructure are becoming a serious problem that requires attention," Pryce added.

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