Zangazur corridor to boost trade turnover between Azerbaijan and Turkey

Transport Materials 3 January 2022 15:29 (UTC +04:00)
Zangazur corridor to boost trade turnover between Azerbaijan and Turkey

BAKU, Azerbaijan, January 3

By Sadraddin Aghjayev - Trend:

The Zangazur corridor will contribute to trade turnover between Azerbaijan and Turkey reaching $15 billion by 2023, Analyst of the Center for Analysis of Economic Reforms and Communications (CAERC) Amina Bayramova told Trend.

She said the launch of the Zangazur corridor and the restoration of communication links in the region will create great opportunities both at the local and global levels.

"At the local level, the operation of this corridor means establishment of a direct land connection between the main part of Azerbaijan and Nakhchivan, and will also facilitate access to Asian countries," she said.

She noted that the Zangazur corridor and the construction of transport infrastructure by the Azerbaijani side will turn the region into a trade hub, reduce the distance and the cost of cargo transportation.

"This, in turn, will contribute to an increase in the volume of trade between Azerbaijan and Turkey, create an additional impetus to achieve the target trade volume of $15 billion by 2023," Bayramova said.

She emphasized that the Zangazur corridor can become one of the main drivers for the increase of trade from China and India to Turkey and Europe.

"This corridor can also be used by the countries of the Asia-Pacific region to transport goods to Africa through Turkey. In addition, the implementation of the North-South international transport corridor into the East-West transport line will create a single transport network in the region. Thus, the Zangazur corridor will bring complex benefits at the regional and global levels, acting as a transport hub for international communication projects," Bayramova concluded.