Azerbaijan, China sign agreement on rail container traffic

By Trend

ADY Container, an Azerbaijani company which is a subsidiary of Azerbaijan Railways, and the Chinese Xi'an Continental Bridge International Logistics Co., Ltd have signed a transport agreement on container transportation along the Trans-Caspian International Transport Route (TITR), Trend reports.

The document was signed on the sidelines of a forum on trade and economic cooperation between the Chinese province of Xi'an and Azerbaijan that took place in Baku on July 5. The agreement envisages an movement of container trains along the TITR as part of the project “One Belt, One Road”.

In addition to this document, two more agreements were signed between Chinese and Azerbaijani companies.

A cooperation agreement was signed by the Azerbaijani company Kat Holding and Xi'an Financial Holding. Moreover, an agreement was signed between the Azerbaijani company Mercury Group LLC and the Chinese trading company Chanba.

The Trans-Caspian Transport Corridor project was initiated to increase the transit potential and develop the countries of the Caspian region.

The route extends to Europe from China through the Caspian Sea.