Azerbaijani minister: Middle Corridor - important for China, Central Asian countries
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POLITICS 21 April 2024 - 10:50

Azerbaijani Finance Minister Samir Sharifov has said that the Trans-Caspian International Transport Route (Middle Corridor) is especially important for China and Central Asian countries.

Sharifov made these remarks at the event “Realising the Trade and Logistics Potential of the Middle Corridor”, organised as part of the spring meeting of the International Monetary Fund (IMF) and the World Bank Group (WB) in Washington, Trend reports citing the ministry.

Besides the representatives of the WB, the European Commission and the US Department of State, representatives of the governments of the countries of Central Asia and the South Caucasus, as well as Türkiye, took part in the meeting chaired by WB Vice President of Europe and Central Asia Region Antonella Bassani.

The event participants highlighted that the Middle Corridor project was implemented proceeding from the analysis carried out by the WB, and it is especially important for China and Central Asian countries.

The views on the upcoming tasks to increase the transport and transit potential of the Middle Corridor and the WB’s proposals for solving them were exchanged.

During the meeting, Turkish minister of transport and infrastructure, chairman of the Central Bank of Kazakhstan, the ministers of finance of Georgia and Armenia spoke about the opportunities and importance of the Middle Corridor.

Sharifov, who represented Azerbaijan at the event, emphasised that Azerbaijan is one of the important partners of the Middle Corridor and spoke about the work caried out recently to develop road transport infrastructure and expand the trade and logistics potential in Azerbaijan.

According to the WB presentation, the minister said that Azerbaijan has completely fulfilled its obligations to implement the Middle Corridor project.

He stressed the commissioning of the Baku-Tbilisi-Kars railway line and an increase in the capacity of the Baku International Sea Trade Port, as well as other work carried out to improve transport and logistics infrastructure in the country.

The minister said that the Zangezur corridor is also of particular importance from the point of view of opening a new transport route along the “Middle Corridor” and will serve to fully realise the transit potential of the regional countries.

In conclusion, Sharifov noted that Azerbaijan will continue remaining an active and important partner of the Middle Corridor.

Moreover, Sharifov took part in the meeting of the Azerbaijani delegation with IMF Managing Director Kristalina Georgieva.

The minister also held meetings with President of the Asian Infrastructure Investment Bank Jin Liqun, CEO of the Climate Investment Funds Tariye Gbadegesin, Chairman of the Management Board of the Eurasian Development Bank Nikolai Podguzov and State Secretary for International Finance at the Swiss Federal Department of Finance (FDF) Daniela Stoffel, representatives of the Standard & Poor's and Moody's international rating agencies, and discussed the issues of mutual cooperation.

The Middle Corridor connects the container rail freight networks of China and the EU members states through the countries of Central Asia, the Caucasus, Türkiye and Eastern Europe.

A multilateral multimodal transport infrastructure links ferry terminals of the Caspian and Black Seas with the railway systems of China, Kazakhstan, Azerbaijan, Georgia, Türkiye, Ukraine and Poland.

The Middle Corridor contributes to an increase in cargo traffic from China to Türkiye, as well as to the European countries and in the opposite direction.

A block train running along this corridor delivers goods from China to Europe in an average of 20-25 days, and this is one of the main advantages of this transport corridor.