Page 56 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.72, # 1, 2015, pp. 50-60

In this regard, Baku-Tbilisi-Kars (BTK) railway link will be fully operational in

2016, connecting Azerbaijan, Georgia and Turkey with a new railway connection,

have a strategic importance for the Central Asian region and provide competitive

link for the passenger and container shipping, increase the volume of multimodal

transportation across Eurasia and cargo flows from Asia to Europe and vice-versa.

BTK railway that was included in the list of priority projects of the UNESCAP

Trans-Asian railway networks and UNECE (UN Economic Commission for Europe)

Trans-European Railway master plan, and the new Baku International Sea Trade

Port, creating an intersection of rail, road and sea routes passing through the territory

of Azerbaijan, will lead to increasing regional trade.

The new Port Complex will play a key role in transportation of goods both by

North-South and East-West transport corridors, act as a vital transit point in TRACECA

project and lead to expanding inter and intra-regional trade and can accommodate the

transit cargo deliveries from Central Asia and vice-versa. The estimated transshipment of

the new Port Complex is up to 10 million tonnes of cargo at the first stage, 17 million

tonnes at the second stage and 25 million tonnes at the final stage. The first test container

has arrived at the new Port from China across the Caspian in August 2015.

In general, thanks to the BTK and the new Port transit along the historic Silk

Road would become reliable, safe and economically efficient for carriers. As a

result, cargo deliveries from Aktau to Baku will likely increase and make China-

Kazakhstan-Azerbaijan-Georgia-Europe route more viable. Also, particular focus is

also made on regional initiatives for developing transit cooperation between partner

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