WB predicts increase in trade turnover among Middle Corridor countries Along the Caspian Sea

Active participation in the Middle Corridor not only strengthens Azerbaijan’s position as a regional trade and transit hub but also positions this country as a strategic partner for Asia and Europe.

APA reports with reference to a World Bank report, which states that if the right policies are implemented and the necessary investments are made, then by 2030 trade between Azerbaijan, Georgia, and Kazakhstan could increase by 37%, and between these countries and the European Union - by 28%.

In keeping with the World Bank, without the development of the Middle Corridor, demand for freight transportation will be 35 percent below projected growth. Trade between Europe and Kazakhstan, as well as between Europe and China, will account for the largest portion of the volume of transit goods transported along the Middle Corridor. The greatest growth in the Middle Corridor is expected in trade between China and Europe. By 2030, trade turnover between China and Europe through the corridor will increase to 5.3%. This represents approximately 1 percent of EU-China trade.

It was also noted that in 2030, the trade turnover of the countries of the Middle Corridor along the Caspian Sea will increase by more than 60%. In 2021, this figure stood at 40%.