ASTANA, Kazakhstan, December 1. Minister of National Economy of Kazakhstan Alibek Kuantyrov held a meeting with representatives of the World Bank, where the development of the Trans-Caspian International Transport Route (TITR, or Middle Corridor) was discussed, Trend reports.
A team of World Bank consultants presented key findings from their study - The Middle Trade and Transport Corridor - Policies and Investments to Triple Freight Volumes and Halve Travel Time by 2030, which focuses on Kazakhstan, Azerbaijan, and Georgia, identifies priority measures that can transform this multimodal rail and maritime corridor into a vital and dependable trade route.
The report notes that with the right investments and policies, the Middle Corridor could help triple trade volumes while halving travel time along the route by 2030.
As the report says, the Middle Corridor’s significance and strength lie in the benefits it can bring as an intraregional trade corridor. Increased trade between Azerbaijan, Georgia, and Kazakhstan and Europe are the key drivers of demand: including a 37-percent increase in intra-region trade and a 28 percent increase trade between these countries and the European Union.
Alibek Kuantyrov noted that the priority areas of the report will make it possible to diversify the main flows and create more potential for the development of international trade.
According to him, TITR is one of the most promising routes taking into account the current logistics situation.
The Middle Corridor is a transportation and trade route that connects Asia and Europe, passing through several countries in the region. It is an alternative route to the traditional Northern Corridor and Southern Corridor.
The route starts in China and crosses Central Asian countries such as Kazakhstan, Uzbekistan, and Turkmenistan. It then passes through the Caspian Sea, Azerbaijan, Georgia, and Türkiye before reaching Europe.
The Middle Corridor offers a land route that connects the eastern parts of Asia, including China, with Europe, bypassing the longer maritime routes.