Four countries make joint investment to develop transit corridor
The agreement emphasizes the importance of cooperation between the countries of this route and investment in infrastructure development to integrate the Middle Corridor and Trans-Caspian transport corridor with the international transport system.
On March 31, 2022 (Thursday,Farvardin 11, 1401), the four countries of Kazakhstan, Azerbaijan, Georgia, and Turkey signed a quadrilateral agreement to expand the capacity of a Caspian Sea transit corridor called the "Middle Corridor" with the aim of strengthening cooperation and increasing the transit potential of countries.
The agreement is likely to take effect in early or mid-2023.
The agreement emphasizes the importance of cooperation between the countries of this route and investment in infrastructure development to integrate the Middle Corridor and Trans-Caspian transport corridor with the international transport system, ILNA reported.
One of the priorities of this agreement is to increase the competitive advantage of the Baku-Tbilisi-Kars (BTK) railway line in Asia-Europe transport and vice versa and to accelerate the increase in the capacity of this line.
The Secretary General of the Trans-Caspian International Transport Routes Association said, "Such a joint venture adds value to the middle corridor and facilitates the transfer process and facilitates the passage of countries by different methods of transportation."