Apr 17, 2024 (MENAFN via COMTEX) --
(MENAFN - Trend News Agency) BAKU, Azerbaijan, April 17. The Trans-CaspianInternational Transport Route (TITR, or Middle Corridor) has becomethe top priority option for countries in the region, Ding Jianwei,Senior Fellow of the Chinese Taihe Institute, told Trend .
"Practice has proven that the Middle Corridor has become the toppriority option for countries in the region, which allows them tohedge against the current crisis, restore China-Europe freightroutes, and expand economic and trade cooperation betweencountries," he said.
According to Ding Jianwei, since the 21st century, the world hasbecome unstable.
"Global stock markets, foreign exchange markets, crude oil,grain, and nonferrous metals futures markets have all fluctuated,and supply chain disruptions have emerged as a key danger to theglobal economy. The outbreak of the Russian-Ukrainian conflict hasexacerbated already strained global industrial and supply lines and Ukraine are significant global exporters of energy,industrial raw materials, agricultural products, and food items, aswell as major transportation arteries connecting Eurasia. Theconfrontation between Russia and Ukraine has lasted two years andconstitutes not just a military conflict between these twocountries but also an economic war between Russia and the US andits supporters," he noted.
As Ding Jianwei noted, as a result of the chain reaction of warand economic sanctions, global production and supply chains wereinterrupted, especially the Black Sea routes, and air and landtransport were suspended.
"The Northern Corridor, which traditionally connects the easternand western ends of the Eurasian continent through Russia, has beenhampered by comprehensive sanctions and Russia's isolation from theWest. At the same time, the countries of Central Asia and the SouthCaucasus have severely limited transport capabilities. Supplychains were disrupted. Against this background, the importance ofthe Middle Corridor, passing through Central Asia, the SouthCaucasus, and TuÌ?rkiye, has become increasingly visible. Thecountries of the region want to take advantage of the situation,make full use of the Middle Corridor, and break out of theblockade," he said.
At the same time, Ding Jianwei pointed out that the volume ofcargo transported along this route exceeded 1.7 million tons fromJanuary through August 2023. By 2025, the total cargo turnover onthis route is expected to exceed 10 million tons.
"The strategic status of the Middle Corridor continues to risedue to the Russian-Ukrainian conflict and the Red Sea crisis policy coordination among countries along the route andincreased capital investment can help improve the route's expansioncapabilities and development," he noted.
The Middle Corridor is a transportation and trade route thatconnects Asia and Europe, passing through several countries in theregion. It is an alternative route to the traditional NorthernCorridor and Southern Corridor.
The route starts in China and crosses Central Asian countriessuch as Kazakhstan, Uzbekistan, and Turkmenistan. It then passesthrough the Caspian Sea, Azerbaijan, Georgia, and TuÌ?rkiye beforereaching Europe.
The Middle Corridor offers a land route that connects theeastern parts of Asia, including China, with Europe, bypassing thelonger maritime routes.
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COMTEX_450997242/2604/2024-04-17T17:27:31
