BAKU, Azerbaijan, October 28. Middle Corridor is emerging as a contestable solution to global shocks coming as result of COVID-19 in 2020 and Russia-Ukraine conflict in 2022, CAREC program’s official told Trend.
Thus, the official said that COVID-19 in 2020 and Russia-Ukraine conflict in 2022 combined to strangle supply chains from PRC to Europe.
“These events influenced unprecedented levels of price increases and capacity reductions imposed by global shipping lines,” the official said.
In their word, these adjustments were rapid and created conditions that channeled an opportunity for other modes of transport to capitalize on the lack of available shipping space from seaports in PRC.
“The beneficiary’s included existing overland multi-modal routes with the Middle Corridor emerging as a contestable solution especially given the limitations imposed on rail via Belarus and the Russia routes to Europe. This scenario could be described as the best opportunity for the Middle Corridor to prove itself as a viable overland route for consistent volume of end-to-end transcontinental transport,” they concluded.
The CAREC Program is a partnership of 11 countries and development partners working together to promote sustainable development through cooperation. Launched in 2001, CAREC proactively facilitates practical, results-based regional projects and policy initiatives to accelerate economic growth and reduce poverty in the region.
CAREC’s members include Afghanistan, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, the People’s Republic of China, Tajikistan, Turkmenistan, and Uzbekistan. ADB hosts the CAREC Secretariat.