Azerbaijan, Baku, Sept. 30 / Trend /
Iran's joining to TRACECA as a full member will increase significantly the efficiency of this transport corridor, TRACECA National Secretary from Azerbaijan, Akif Mustafayev, said on Sept.30.
Iran has a large transport capacity, quality and efficient transport infrastructure and applies attractive freight rates, which will increase the overall efficiency of the transport corridor, Mustafayev said.
Iran officially joined TRACECA (Transport Corridor Europe-Caucasus-Asia) in 2005, but was passing ratification and other regulatory-legal procedures.
TRACECA is an international transport program involving the European Union and 14 member States of the Eastern European, Caucasian and Central Asian region.
TRACECA was established in 1998, after the signing of Multilateral Agreement on International Transport for the development of transport initiatives (including the establishment and development of a road corridor) between the EU, the Caucasus and Central Asia.
It has a permanent Secretariat, originally financed by the European Commission, in Baku, Azerbaijan, and a regional office in Odessa, Ukraine. Since 2009 the organization has been entirely financed by member countries.
TRACECA has five working groups, covering maritime transport, aviation, road and rail, transport security, and transport infrastructure. Amongst its specific projects was the creation of a new bridge to replace and protect the heritage bridge at Krasny Most, between Georgia and Azerbaijan.