Azerbaijan Joins World Bank Regional Forum in Georgia
The World Bank brought together government, private sector and international organization representatives from Georgia, Azerbaijan, Armenia, Kazakhstan and Turkey in Georgia. A report on the development of the Middle Corridor was presented.
Yulduz Salimov2 min read
A regional World Bank forum, "Middle Corridor: The Next Stage," is being held in Georgia. The World Bank Group brought together representatives of governments, the private sector, international organizations and other stakeholders from Georgia, Azerbaijan, Armenia, Kazakhstan and Turkey. Report.az reported this.
As part of the forum, a World Bank report was presented, "Integration: A World-Class Trade and Logistics System Along the Trans-Caspian Transport Corridor." The document assesses the current state and key challenges of the Middle Corridor in areas such as trade flows, infrastructure, logistics efficiency and sectoral policy.
The report identifies priorities up to 2040 related to investment, policy reforms and the strengthening of regional cooperation. Their goal is to turn the corridor into a more competitive and sustainable transport route.
According to the World Bank's assessment, coordinated action by countries to develop infrastructure and services can significantly increase demand for the Middle Corridor over the next 15 years. This, it notes, requires faster and more reliable transport services, simplified trade procedures, expanded digitalization and stronger cross-border cooperation.
Among the report's recommendations are strengthening railways, ports and shipping operators, more actively attracting private capital, simplifying customs and transit procedures, and ensuring the compatibility of digital systems along the entire corridor.
Georgia's Role and the Forecast for Its Economy
The World Bank notes that Georgia plays an important role in the Trans-Caspian Transport Corridor thanks to its strategic position between the Caspian and Black Seas. According to the report, additional investment in railways, roads, port and logistics infrastructure, more efficient transport services, digitalization and regional coordination can strengthen the country's position as a transport hub.
The report also assessed the possible impact of the Trans-Caspian Transport Corridor's development on Georgia's economy. According to the forecast, by 2040 the country's GDP could grow by 3.61%, and employment by 0.79%. At the same time, an expansion of imports and exports is expected.
The document emphasizes that the next stage in the development of the Middle Corridor requires not only the creation of new infrastructure, but also the operation of the entire route as a single and efficient logistics system. For Georgia, the key areas named are the creation of reliable transport services, strengthening institutional capacity, developing digital connections, attracting private investment and deepening regional cooperation.
Source: report.az
