Today.Az » Business » Revenues from TRACECA up
17 August 2019 [09:59] - Today.Az
Transport Corridor Europe-Caucasus-Asia (TRACECA) is an international cooperation program in the field of transport between the EU and partner countries in Eastern Europe, South Caucasus and Central Asia.
The program was established at the Brussels conference on May 3, 1993, which was attended by the ministers of transport and trade of eight states – Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Georgia and Armenia.
Azerbaijan’s revenues from the transportation of goods within the framework of the TRACECA in the first half of 2019 recorded a growth of 4.2 percent compared to the same period in 2018 and reached 311.63 million manats ($182.77 million), the State Statistics Committee said in a message.
At the same time, Azerbaijan’s revenues from the transit of goods through this transport corridor amounted to 104.23 million manats ($61.13 million, an increase of 12.7 percent) in the reporting period.
The country’s revenues from passenger transportation along the corridor amounted to 70.89 million manats ($41.58 million), which showed an increase of 8 percent year-on-year.
Within the first six months of this year, the volume of TRASECA cargo transportation through the territory of Azerbaijan amounted to 25.1 million tons.
TRACECA is involved in gradually developing trends of trade and economic development. Major traffic flows of the corridor formed, on the one hand, in Eastern and Central Europe, and on the other - in Central and South-East Asia.
Along with TRACECA, another important international transport corridor passes through Azerbaijan - the international North-South corridor, connecting India, Iran, Azerbaijan, North-West Russia and the Baltic sea region.
Azerbaijan has excellent prospects for the development of cargo transportation. The development of railway communication with Iran will strengthen the North-South corridor, and the recently opened Baku-Tbilisi-Kars railway line will develop freight traffic in the East-West direction.