ADB reports marked increase in cargo handling along Middle Corridor

An Asian Development Bank (ADB) report has revealed a noticeable increase in freight traffic along the Middle Corridor.

According to the report, the volume of transit traffic increased by 86% year-on-year and reached 2.7 million tonnes in 2023, Caliber.Az reports, citing local media.

The projected volume for 2024 is 4 million tonnes. This record freight volume indicates the corridor's growth potential to meet the growing demands of global trade.

Economic analysis shows that by 2030, travel time between China and Europe's western border will be halved and freight volumes will triple to 11 million tonnes.

One example of the growing use of the corridor was the launch of a new route connecting China to Europe by Finnish transport company Nurminen Logistics in May 2022. This route further confirmed the high demand for the Middle Corridor.

“The current capacity of the Middle Corridor is 5.8 million tonnes per year, which is significantly less than that of the Northern Corridor. However, with the right measures, its capacity can be increased. Economic analyses show that by 2030, travel time between China and Europe's western border will be halved and freight volumes will triple to 11 million tonnes,” ADB said in a statement.

The Middle Corridor, also known as the Trans-Caspian Corridor, spans through Central Asia and traverses the Caspian Sea. The Middle Corridor was, until recently, considered the second-best option to the Northern Corridor for connecting Europe and Asia, boasting a potential reduction of up to 3,000 km, according to a report by the European Bank for Reconstruction and Development.

By Khagan Isayev