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World Bank Team Presents Initial Findings On Improving Freight Transit  Of The Caucasus Transit Corridor

World Bank team presents initial findings on improving freight transit of the Caucasus Transit Corridor

Source: Port of Baku
Baku, Azerbaijan (PortSEurope) November 19, 2017 – The World Bank team has presented the initial findings of its study on improving freight transit and corridor performance of the Caucasus Transit Corridor. The study is expected to be ready by December 2018. The World Bank is helping Azerbaijan and Georgia identify issues along the Caucasus Transit Corridor, assess its performance by using the method known as
corridor performance monitoring tool and recommend actions to improve the corridor’s competitiveness and logistics. “This technical assistance helps determine the remaining steps to turn the Caucasus Transit Corridor into the 21st century Silk Road”, World Bank Country Manager for Azerbaijan Naveed Naqvi said. “The study will systematically uncover the focus areas to further improve efficiency and competitiveness of this important transport corridor”. “The Caucasus Transit Corridor (CTC) links Azerbaijan and Georgia with Europe, China, Kazakhstan and other regional partners,” WB Baku office said. “The corridor has the potential to be a serious player in connecting China with Western Europe, which receives 16 percent of all Chinese exports. It also has potential to become an important component of China’s Belt and Road initiative. Freight shippers, which now prefer other routes for such goods, would switch to CTC if it offers cost-efficient and high quality transportation and logistic services.” Source: Trend Copyright (C) PortSEurope. All Rights Reserved. 2017.

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