06.09.24

The International North-South Transport Corridor project has made a significant contribution to the increase in foreign trade, diversification of exports and economic development of the countries involved, including Turkmenistan. This was reported by CentralAsia.news.

Turkmenistan is in favor of equal, mutually beneficial cooperation that does not have a negative impact on the economy of either country. In this regard, the establishment of the international transport corridor “North-South” in accordance with modern requirements opens new economic prospects for the countries of Central Asia. According to experts of the Eurasian Development Bank (EDB), costs in this sector will be significantly reduced if the ITC serves cargo flows at full capacity. 

The North-South corridor is particularly interesting for the countries of the Caspian region. Russia, Iran and India signed an agreement on the creation of a transnational project with a length of 7200 kilometers in 2000 year. Subsequently, Azerbaijan, Afghanistan, Kazakhstan, Oman, Pakistan, Turkmenistan and Turkey joined the list of participants. The acceleration of project implementation and allocation of additional funds for this purpose show that transnational routes are becoming increasingly important. 

According to EDB estimates, by 2030 the volume of freight traffic along the main transit corridors through Central Asia will increase by 1.5 times and container traffic by two-thirds. The growth of trade turnover will have a significant impact on trade relations of Russia and Central Asian countries with India. Experts believe that the volume of trade in the Central Asian region is three times below of its potential.

https://centralasia.news/30165-turkmenistan-nameren-stat-kljuchevym-zvenom-mtk-sever-jug.html