World Bank assessed prospects of South Caucasus
The transformation of the Transcaucasian Transport Corridor (Caucasus Transport Corridor, STS) into a global logistics route requires a serious development of cargo transhipment services and an increase in cargo traffic along it, according to the World Bank (WB).
Since containerised cargo is “the future of global trade,” the WB spokesperson said, investments are needed in specialised container ships, logistics platforms, information technology tools that connect operators and transport systems that build capacity and facilitate trade. The establishment of the Corridor Management Information System is also important for providing a one-stop-shop for commercial, operational and financial purposes.
“The expansion of multimodal communication along the corridor requires the improvement of the infrastructure for handling such cargoes by ports in the Caspian and Black Seas and the reconfiguration of the existing infrastructure to meet the requirements for the operation of container block trains (block length, sidings, speed, etc.). In addition, despite major infrastructure investments in the East-West corridor in Azerbaijan and Georgia, neither the modernisation of the rail nor road segments of the corridor, including rail signalling and power transmission in Azerbaijan, has yet to be completed. The completion of these investments is critical to the full functionality of the corridor,” the Bank said. It is also necessary to improve customs procedures: the introduction of simplified border crossing procedures, including information flows, the transition to a "single window" and, ultimately, the creation of a "green corridor" for transit cargo, which will allow them to bypass customs checkpoints at the borders, the WB added. “Improving connectivity in the Black and Caspian Seas requires sufficient capacity for transit container traffic along the corridor, streamlining operations to minimise delays in ports and en route, exploring the possibility of introducing incentives for on-time delivery and penalties for delays,” the bank said in an assessment.
Read also:
Azerbaijan and World Bank considering collaborating on projects
Programs worth USD 509 million have been approved by the World Bank for Georgia
See Also
De Facto Abkhazian MP Kills Colleague in Parliament Shooting
Pashinyan Pushes for Border Security and Military Reform
Aliyev Denounces Foreign Influence in Georgia, Criticizes Macron and USAID
Aliyev Rejects Turkish Military Base Talk, Condemns Western Arms Supplies to Armenia, and Seeks Diplomatic Role between Russia and NATO
