An Agreement on a Caspian-Black Sea Transport Route Is Being Prepared for Signing
At the Trans-Caspian Transport Corridor and Connectivity Investor Forum held in Tashkent on November 27, Georgian Minister of Economy and Sustainable Development Mariam Kvrivishvili announced that an agreement to create a new international transport route between four countries: Turkmenistan, Azerbaijan, Georgia, and Romania, will be signed in December of this year.
According to her, this document will lead to significant progress on the new route, which will directly connect the Caspian and Black Seas. The initiative will create a sustainable multimodal corridor from the Caspian region to the European Union, significantly improve transport connectivity, diversify routes, and enhance the overall sustainability of regional transportation.
The forum in Tashkent marked the second stage of the dialogue launched in Brussels in January 2024, when a historic commitment was made to allocate €10 billion for the Trans-Caspian Transport Corridor.
The Tashkent Forum aimed to translate initial commitments into concrete actions, focusing on three strategic objectives: demonstrating project progress, strengthening interregional links, and enhancing the role of the private sector.
According to experts from international organizations, the volume of freight transported along the Middle Corridor should reach 10-11 million tons per year by 2030. To achieve these goals, extensive technical and financial support is being provided:
Technical assistance from Team Europe (EU – GIZ/Expertise France): A budget of €15 million will be allocated to improve trade and customs procedures, harmonize standards, and develop multimodal logistics.
World Bank and the private sector: Feasibility studies, environmental assessments, and prioritization of infrastructure projects are being conducted for a total of €10 million.
EBRD and the EU: Jointly funding technical and pre-investment studies to accelerate the modernization of the corridor and the transition to low-carbon transport infrastructure (€5 million).
Key infrastructure projects include the modernization of Kazakhstan's Aktau port and roads in Kyrgyzstan, Kazakhstan, and Uzbekistan.
ORIENT
