BAKU, Azerbaijan, June 11. Latvia is interested in the development of intermodal freight transportation using the Transport Corridor Europe, Caucasus, and Asia (TRACECA), a source in the Ministry of Economics of Latvia told Trend.
"Latvia is interested in developing intermodal freight transportation, utilizing various transit corridors, including the Europe-Caucasus-Asia transportation corridor. In the field of transport and logistics, Latvia is ready to cooperate and create new, sustainable trade transport corridors with harmonized standards between the EU and Central Asia using the advantages of the Global Gateway. Latvia is actively cooperating with Central Asia to connect the TRACECA corridor with all the Baltic States," the source said.
The representative of the Ministry noted that in the long term, Latvia is also looking forward to the implementation of the Rail Baltic project, which will open up new opportunities for transport connectivity.
"Latvian ports, railways, roads, and Riga International Airport operate as an integrated multimodal corridor complex for importing, exporting, and transiting goods from Central Asia, including Turkmenistan. Furthermore, we can establish production and transport logistics companies, terminals, and warehouses in Latvian ports and special economic zones in order to produce, store, process, and sell goods in the EU, Baltic states, and Scandinavian markets," the representative added.
To note, TRACECA is a program that unites the transport systems of 14 countries (participants of the “Basic Multilateral Agreement on International Transport for the Development of the Europe-Caucasus-Asia Corridor”), seeking to develop economic relations, trade, and transport connections in the regions of Europe, the Black Sea, the Caucasus, the Caspian Sea, and Asia.
As per this agreement, cargo transport along the Europe-Caucasus-Asia corridor utilizes various modes, including road, rail, air, and water.