TRACECA corridor creates favorable conditions for further dev't of trade relations among European, Asian countries

2 July 2021 12:32 (UTC+04:00)

By Trend

Joint research, assessment, and expertise of the potential and current capabilities of the transport corridor Europe-Caucasus-Asia amid the changing circumstances would allow the European Union (EU) and TRACECA to create favorable conditions for the further development of trade relations among the European and Asian countries, Trend reports on July 1 referring to TRACECA.

Secretary-General of the Permanent Secretariat of the Intergovernmental Commission TRACECA Asset Assavbayev met with EU officials in Brussels on June 28-29, 2021 amid the ongoing initiatives.

The prospects for the development of relations for the coming years for the TRACECA region were discussed during the meeting.

The secretary-general stressed that 85 projects have been implemented within TRACECA through the EU support since 1993, 83 percent of which are technical assistance projects (investment - 14, technical assistance - 71). The implementation of the projects has made an invaluable contribution to attracting investments to the region.

Moreover, Assavbayev stressed that the active work is underway to eliminate legal barriers to transport and international trade, develop railway and road sectors, rail, ferry and sea routes, transportation by air, logistics, and multimodal transportation on the basis of the recommendations envisaged by the Master Plan (developed within the EU-LOGMOS project) and included in the TRACECA Strategy until 2026.

“The joint efforts of TRACECA and the EU are required in the main spheres on which the efforts of the Permanent Secretariat of the Intergovernmental Commission are focused in the short term, namely, in the issues of digitalization, harmonization, containerization to achieve the success and effective operation of the Europe-Caucasus-Asia corridor,” the message said.

The secretary-general also expressed readiness to work together to achieve the goals envisaged by TEN-T, as well as such EU initiatives as EU4DIGITAL, eFTI, Shift2Rail Joint Undertaking and others.

"In this context, the joint study, assessment and expertise of the potential and current capabilities of the corridor amid the changing circumstances in the TRACECA region would create favorable conditions for the further development of trade relations among the European and Asian countries, expand transport connections, thereby strengthening and intensifying cooperation with EU," TRACECA said.

The interaction with the EU is necessary to reveal the spheres of cooperation as the EU is implementing its own initiatives along the corridor, including the strategy for Central Asia, as well as through the countries of the Eastern Partnership.

TRACECA currently unites the transport system of thirteen countries, which form a corridor stretching from Europe to the borders of China.

The chairmanship in TRACECA has rotated annually among the member-states. Currently, the chairmanship in the Intergovernmental Commission belongs to Azerbaijan while Bulgaria will chair the Intergovernmental Commission in October 2021.

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