BAKU, Azerbaijan, October 10. Last week it became known that establishing TRACECA Fund was discussed during the meeting of Permanent Representatives (National Secretaries) of the Permanent Secretariat of the Intergovernmental Commission (PS IGC) TRACECA, Trend reports.
Promotion of this initiative is very important in context of attracting funds to TRACECA countries and implementing investment transport projects. The final draft documents will be submitted for approval during the upcoming meeting of the IGC.
Also a number of draft documents were assessed that require detailed revision and final approval by all countries, including the review 'Legal framework for multimodal transport - an international approach and appropriate application in TRACECA countries', an overview of measures taken to stimulate multimodal transport between Asia and Europe, the issue of Kazakhstan's accession to the TRACECA permit system and a number of others.
Moreover, TRACECA is working to create favorable conditions for cargo transportation. Achieving this goal requires the efforts of all TRACECA member countries, including Uzbekistan, which is actively involved in studying a number of PS IGC initiatives, including international ones (multilateral permit system, eTIR, eCMR).
In order to ensure uninterrupted transport links along TRACECA routes, it's important to improve the efficiency of border crossing procedures and create favorable conditions for multimodal transport. TRACECA offers an important alternative to Euro-Asian transport links and is ready to further strengthen cooperation with various partners and institutions in initiatives that could coexist and complement each other.
In addition, last week it was noted that Azerbaijan is turning into a logistics center for the transshipment of cars from Europe to the East, in particular to the countries of Central Asia
Baku International Sea Trade Port CJSC registers a large flow of premium class passenger cars, which are planned to be transported to Central Asian countries. It's expected that the growth rate of car transportation through Azerbaijan will grow rapidly.
International Civil Aviation Organization (ICAO) conducted another large-scale Coordinated Validation Missions (ICVM) audit for compliance with international aviation safety standards in the field of civil aviation in Azerbaijan as part of the Universal Security Audit Programme (USOAP).
According to the preliminary report of the Validation Committee dated September 26, 2022, the effective implementation of the flight safety management system in Azerbaijan and compliance with ICAO standards were set at 80 percent. Furthermore, the committee noted that this indicator is five percent higher than the global and European averages set by ICAO until 2025, and is considered a very good achievement.