ASTANA, Kazakhstan, April 3. The International North-South Transport Corridor has the potential to increase the volume of cargo transportation to 30 million tons per year or more by 2030, Trend reports.
According to the Eurasian Development Bank's forecast, currently, the volume of cargo traffic along the corridor is lower than in other directions, but there is great potential for growth.
As EDB said, in 2022, the volume of transportation was approximately 16 million tons; in 2023, it was about 19 million tons.
"The dynamics significantly exceed all expectations," the EBD said.
According to the EDB’s forecast for 2021, the cargo transportation potential of the North-South was estimated at 24.7 million tons by 2030.
However, as noted in the report, apparently this volume will be reached much earlier, and many estimates are being revised upward.
The foundation of the INSTC was laid on the basis of an intergovernmental agreement signed between Russia, Iran, and India on September 12, 2000.
In total, 13 countries (Azerbaijan, Belarus, Bulgaria, Armenia, India, Iran, Kazakhstan, Kyrgyzstan, Oman, Russia, Tajikistan, Türkiye and Ukraine) have ratified the agreement.