Middle Corridor important in diversifying supply both regionally and globally, says WTO rep

Aik Hoe Lim, Director for Trade and Environment at the World Trade Organisation (WTO), has said that the Middle Corridor was important in the issue of supply diversification not only for the region but also globally.

He made the remark during a panel discussion titled "Middle Corridor: Reshaping The Euro-Asia Connectivity," according to a Report correspondent from Tbilisi.

"If we look at the impact of climate change on trade, one of the key impacts that we are really feeling is the impact on trade routes. Around 80 per cent of global trade is done through sea lanes. Climate change makes them more vulnerable. Land routes, and in particular the Middle Corridor, are part of this diversification," he said.

The Middle Corridor was established in February 2014 with the participation of relevant structures of Azerbaijan, Kazakhstan and Georgia. Later Ukraine, Romania and Poland joined the project. Currently, the route starts from the China-Kazakhstan border and runs through Kazakhstan, the Caspian Sea, Azerbaijan and Georgia to Europe. A single tariff has been created along the entire route, and the "single window" principle is in effect.