Baku port supports the “Middle Corridor”

Baku, Azerbaijan (PortSEurope) September 23, 2020 - Speaking at the "Eurasian Knot and the growing role of the Middle Corridor during the COVID-19 pandemic" international webinar, Deputy General Director, Baku International Sea Trade Port CJSC, Akbar Karimov, said that new transport corridors passing through the Caspian Sea have increased the role of the "Middle Corridor". Also known as the Trans-Caspian International Transport Route (TITR), the Middle Corridor starts in Southeast Asia and China, and runs through Kazakhstan, the Caspian Sea, Azerbaijan, Georgia and on to European countries. It is one of the international transport corridors that forms part of the new Silk Road, linking China and Europe. It also provides communication between land-locked countries without direct access to international waters. “Cooperation between corridors enhances interregional trade. Currently, the Middle Corridor is considered the safest and shortest route between Europe and Asia. This corridor is also very important for countries without access to the ocean such as Azerbaijan, Turkmenistan, Uzbekistan and Afghanistan, which ensures their access to global markets”, Karimov said. Baku International Sea Trade Port CJSC (Baku Port)published cargo figures for the first half of 2020 which show that the volume of cargo handling was 2.52 million tons, up 27% on the same period of 2019 (1.98 million tons). Of the total, 87% or 2.19 million tons were transit cargo, which confirms Baku’s status as a transit hub between Asia and Europe. There was a 5-fold increase in dry cargo handling to 401,000 tons. During the same period, the number of large vehicles (trucks) increased by 14.4% to 17,173. Of these, 11,776 (68.6%) moved in the direction of Baku-Turkmenbashi-Baku, and 5,397 (31.4%) moved in the direction of Baku-Kuryk-Baku There was also an increase in container handling. 18,547 TEU containers were recorded, an increase of 22% (15,210 TEU). The Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, combines the countries participating in the new Silk Road project and important players of the region. Its members are leading maritime and transport companies from Kazakhstan, Azerbaijan, Georgia, Ukraine, China and Turkey. The organisation aims to popularise the middle corridor, accelerate and simplify cargo transportation procedures between Asia and Europe, and make special preferential tariffs. Between East and West, in terms of cargo, the middle corridor helps to compete with the north-south routes. TITR allows European companies to bypass Russia, which until now sanctions the transit of certain types of goods through the country. A number of Russian entities are under sanctions from the international community following Russia’s annexation of the Crimea in 2014. The importance of this route was underlined with the inclusion of Georgia and Azerbaijan in the European Union (EU) TEN-T network. Copyright (C) PortSEurope. All Rights Reserved. 2020.

Baku port supports the “Middle Corridor”

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Baku port supports the “Middle Corridor”

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