TRANS CASPIAN INTERNATIONAL TRANSPORT ROUTE

The EU, through its structures, will allocate 10 billion euros for the development of the Trans-Caspian International Transport Route (TITR), European Commissioner for Trade Valdis Dombrovskis said on January 29 in Brussels at the Global Gateway global investment forum.

Trend reported this on Monday with reference to Dombrovskis’s page on social networks.

The Asian Development Bank (ADB) will allocate a grant to elaborate a strategy for further development of the Trans-Caspian International Transport Route (TITR) in 2024, Trend reports via the TITR Association.

Kazakhstan accounts for 80 percent of the transit land shipments along the China-Europe route, Kazakhstan's President Kassym-Jomart Tokayev said during his meeting with Germany's President Frank-Walter Steinmeier in an expanded format, Trend reports.

Uzbekistan intends to open its own terminal at the Baku International Sea Trade Port, Deputy Minister of Transport of Uzbekistan Abdusamat Muminov told Trend in an exclusive interview.

“This terminal will function both for sugar transportation to Uzbekistan and for our export supplies. We want to use public-private partnership for this, so that Uzbek entrepreneurs invest in the development of the infrastructure of the port of Alat for further use”, he said.

The Middle Corridor (Trans-Caspian International Transport Route) plays an important role in the transportation of goods from China to Europe across the countries participating in the route against the background of the COVID-19 pandemic and the geopolitical situation, Logistics Director of the Turkish Albayrak Group of Companies Harun Oncu told reporters, Trend reports on November 14.

According to Oncu, geo-economic changes and current realities require the creation of new, alternative routes.

Kazakhstan’s Arcelor Mittal Temirtau JSC has expressed its readiness to redirect nearly 50,000 tons of metal products to the port of Aktau with their further shipment through Azerbaijan and Georgia [being part of Trans-Caspian International Transport Route, or TITR], Trend reports citing the Ministry of Industry and Infrastructural Development.