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Baku Port Benefits From Transport Corridor Development

Baku port benefits from transport corridor development

Baku Port Benefits From Transport Corridor DevelopmentSource: Port Aktau

Baku, Azerbaijan (PortSEurope) November 19, 2019 – Since in April this year the port of Akau has handled more than 10,000 containers, up 400% on the entire period of 2018.

This is mainly due to actions of Trans-Caspian International Transport Route (TITR) members to develop trade connections.

The bulk of cargo in containers is various goods from China to Azerbaijan, Georgia, Turkey, European countries (eg, Italy, Romania) and trade in the other direction.

Aktau port is trying to develop as a container hub for Caspian Sea shipping services.

The Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, combines the countries participating in the new Silk Road project and important players of the region. Its members are leading maritime and transport companies from Kazakhstan, Azerbaijan, Georgia, Ukraine, China and Turkey. The organisation aims to popularise the middle corridor, accelerate and simplify cargo transportation procedures between Asia and Europe, and make special preferential tariffs. Between East and West, in terms of cargo, the middle corridor helps to compete with the north-south routes.

TITR allows European companies to bypass Russia, which until now sanctions the transit of certain types of goods through the country. A number of Russian entities are under sanctions from the international community following Russia’s annexation of the Crimea in 2014. The importance of this route was underlined with the inclusion of Georgia and Azerbaijan in the European Union (EU) TEN-T network.

Aktau Sea Commercial Port is a member of TITR.

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