BAKU, Azerbaijan, August 26. Azerbaijan and Uzbekistan plan to set up a joint venture (JV) to develop cargo transportation, an informed source told Trend.
According to the information, this JV will be designed specifically to improve transportation along the Trans-Caspian International Transport Route (TITR), more commonly known as the Middle Corridor.
Furthermore, according to the source, several other specific measures are being worked out to expand cooperation in the field of transport and transit between Baku and Tashkent. In particular, the sides are discussing the establishment of ferry production, the creation of storage infrastructure, and the transition to electronic exchange of documents.
To note, the volume of cargo transportation from Uzbekistan to Europe increased by 20 percent in 2023, which was also facilitated by the network of seaports on the Caspian Sea (Baku, Astara, Lankaran, and Sumgayit).
TITR has been operating since 2014, but it is the 2023-2024 period that demonstrates the growth of cargo traffic. A total of 2.7 million tons of cargo passed via TITR in 2023, and in 2024 the corridor can transport over 4.2 million tons of cargo.
