Azerbaijan’s transit potential to reach about $700M by 2020 (UPDATE)
Details added (first version posted on 16:50)
Baku, Azerbaijan, Oct. 13
By Anvar Mammadov - Trend:
By 2020, the transit potential of Azerbaijan will reach $600-$700 million or 300,000 containers, says Askar Mamin, the president of the Kazakhstan Railways.
He made the remarks Oct. 13 at the international conference titled 'Prospects of Development of Transit Potential of Azerbaijan'.
"We highly appreciate the potential of the Trans-Caspian route, in particular the Baku-Tbilisi-Kars international transport corridor," said Mamin.
He said that the expansion of the volumes of transit cargo transportations will contribute to the development of China's trade relations with the Caucasus and Turkey and increase the value of the Trans-Caspian transport route.
"The potential is very high," said Mamin. "Currently the infrastructure for ensuring these volumes is being prepared. Kazakhstan is glad to contribute to the development of transit cargo transportations and the competitiveness of railways in the region, in particular, we have already built thousands of kilometers of railways from central Kazakhstan to Aktau, which will also contribute to an increase in cargo transportations in Baku."
He went on to add that the transit cargo may bring big profits to Azerbaijan, as it happened in Kazakhstan.
"Only in 2014, Kazakhstan's revenues from China-Kazakhstan-Russia-Europe transit corridor amounted to about $1 billion," said Mamin. "I think that Azerbaijan will be able to get such profits from cargo transportations in the future as well."
Edited by CN
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