BAKU, Sept. 24 (Xinhua) - The World Bank has projected a potential 28% increase in trade turnover between Azerbaijan and the European Union (EU) through the Middle Corridor by 2030, Stefanie Stallmeister, the World Bank's Country Manager for Azerbaijan, said on Tuesday in an interview with AZERTAC news agency.
Stallmeister highlighted that the World Bank has supported Azerbaijan's transportation sector since the early 2000s by investing in major transit corridors, including highways and railways. These investments have helped connect people to markets and services, with the Middle Corridor playing a vital role as a multimodal route linking Central Asia, the Caucasus, and Europe.
The World Bank's recent study indicates that travel times along the Middle Corridor could be halved, and trade flows could triple by 2030. This would boost regional trade, with Azerbaijan, Georgia, and Kazakhstan expected to see a 37% increase in trade turnover, and trade with the EU could rise by 28%.
Stallmeister emphasized the need for coordination, improved logistics, and digitization to maximize the corridor's potential, alongside key investments in railways, ports, and intermodal facilities.
