BAKU, Azerbaijan, March 30. Decision makers in America view further development of the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, as an important initiative and believe in its feasibility, Richard Spooner, a member of the Advisory Board of the Caspian Policy Center told Trend.
He added that the development of the trade route will be important for countries in other regions.
“It will be no less important for political and financial decision-makers in Europe and the Gulf to likewise support such development, and all signs point to the trans-Caspian route enjoying such support,” Spooner added.
He also highlighted the expected positive impact of the Middle Corridor on the Kazakh economy due to the increase in trade with various countries. Spooner predicts the trade route to give a boost to developing domestic infrastructure, which will also have a very significant positive impact on the Kazakh economy.
Earlier, it was reported that the Abu Dhabi Ports Group concluded an Agreement on Strategic Partnership with Kazakhstan’s national oil company KazMunayGas for creating a merchant fleet, including building or purchasing container ferries for transit from China to Europe via the Trans-Caspian route.
Several major European companies, including Finland’s Nurminen Logistics, also participate in the operation of the Middle Corridor.