By Sara Israfilbayova
The International Association of the Trans-Caspian International Transport Route (TITR) signed a memorandum of cooperation with the China Communications and Transportation Association, the Azerbaijan Caspian Shipping CJSC reported on June 14.
The memo was signed within a round table on "Development of transport infrastructure and increase of efficiency and competitiveness of transportations by TCITR " in Astana, in which representatives of the Azerbaijan Caspian Shipping CJSC took part.
About 80 representatives of the railway departments of Kazakhstan, China, Ukraine, Poland, Turkey, Azerbaijan, Georgia, Lithuania and Latvia, as well as port, shipping and logistics companies joined the round table.
The forum participants were provided with information on TITR, its advantages, current status and prospects of development. It was noted that the route is stable and constant and the participants also discussed the possibilities for expanding the port and railway infrastructure.
The meeting also discussed the issue of determining the competitive tariffs for the transportation of containers through the Black Sea ports of Bulgaria, Romania and Ukraine.
The agreement on creation of the TITR was signed in April 2016 in Baku by the railway authorities of Azerbaijan, Georgia and Kazakhstan.
Azerbaijan, Kazakhstan, Georgia and Ukraine decided to apply the competitive feed-in tariffs for cargo transportation via the TITR in January, 2016. Single competitive rate was introduced in the framework of the route starting from June 1, 2016 with the view to reduce the costs of international cargo transportation.
About 300,000-400,000 containers are expected to be transported via the Trans-Caspian international transport route by 2020, bringing huge financial profits to Azerbaijan. Growing interest in the transport infrastructures passing through Azerbaijan's territory is expected to make the country a major transport hub in the region.
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