TODAY.AZ / Business

Azerbaijan seeks to see European companies in transport corridor projects

02 August 2017 [16:34] - TODAY.AZ

By Azernews


By Sara Israfilbayova

Azerbaijan has a great potential in transit and freight transportation, the effective use of which can bring huge incomes to the country.

Economy Minister Shahin Mustafayev said that for the more effective use of the transit potential of Azerbaijan, by the decree of the head of state Ilham Aliyev dated October 21, 2015, the Coordination Council on transit cargo transportation was established.

 “As the result of the Coordinating Council's activities almost 16,000 trucks passed through the territory of Azerbaijan in the first half of 2017, which is 1.5 times more than in January-June of previous year. In general, 5.5 million tons of transit cargoes was transported, about 80 percent (4.4 million tons) of them fell on oil and oil products, 20 percent (1.1 million tons) - non-oil products. The transportation of oil and oil products increased by 23 percent and non-oil products-by 36 percent, as compared to the same period of 2016,” the minister stressed.

Furthermore, Azerbaijan expects greater involvement of European companies in the implementation of transport corridor projects in the country.

The International North–South Transport Corridor is a multi-mode network of ship, rail and road route for moving freight between India, Russia, Iran, Europe and Central Asia. The route primarily involves moving freight from India, Iran, Azerbaijan and Russia via ship, rail and road.

The agreement on creation of the Trans-Caspian International Transport Route (TITR) was signed in April 2016 in Baku by the railway authorities of Azerbaijan, Georgia and Kazakhstan.

About 300,000-400,000 containers are expected to be transported via the Trans-Caspian international transport route by 2020. Growing interest in the transport infrastructures passing through Azerbaijan's territory is expected to make the country a major transport hub in the region.

The International East West Transport Corridor links the Far East countries - China, Japan, Korea with Europe, but the North-South project will connect the Scandinavian countries to the Persian Gulf, due to which these two projects will not compete.

URL: http://www.today.az/news/business/163731.html

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