BAKU, Azerbaijan, October 1. Transforming the Trans-Caspian International Transport Route (TITR) into a world-class trade and economic corridor is one of the most significant tasks in global logistics, World Bank Senior Transport Economist Muneeza Alam said at the World Bank Group's online event titled “Middle Corridor: Next Stage” on Thursday, Trend reports.
“Transforming the Trans-Caspian Transport Corridor into a world-class trade and economic corridor that meets global standards is perhaps one of the most challenging and significant tasks in global logistics today,” she said.
According to Alam, the task is challenging because the route is one of the world's longest multimodal corridors. It stretches for more than 10,000 kilometers, with factors creating obstacles and additional complexities for transportation along its entire length.
“There are challenges related to different modes of transport, operational complexities and institutional barriers. Therefore, operating this corridor is quite a challenging task.
But at the same time, it is perhaps one of the most significant corridors existing today. It is one of the corridors connecting Asia and Europe, and it offers unique opportunities for all the countries through which it passes,” she said.
She noted that for the five Central Asian countries, the corridor provides vital transport connectivity to global markets for all types of cargo.
“For the South Caucasus and Türkiye, it provides a more direct route for transporting cargo to East Asia, Europe and Central Asia. And for the end regions of Europe and East Asia, it provides an alternative route for transporting containerized cargo,” Alam said.
