Azerbaijan plays a key role in ensuring transport connectivity between Europe and Asia amid political instability, former Kyrgyz Prime Minister Djoomart Otorbaev (2014-2015) said at the 13th Global Baku Forum, Report informs.
According to him, the driving force behind the Middle Corridor project is trade between China and Europe.
"This is a huge trade turnover. Partly because rail transport has become cheaper than sea transport due to the events around the Red Sea (the escalation in the Middle East – ed.)," Otorbaev said.
Otorbaev also emphasized that last year, trade turnover between China and Europe via rail routes amounted to approximately $70 billion.
At the same time, he noted, the Northern Corridor, which connects China and Europe via Russia and Belarus, is gradually losing ground, despite holding a dominant market share of 90% of traffic.
"Nevertheless, the Middle Corridor is showing rapid growth. In the first half of last year, container traffic along this route increased by 93%," said Otorbaev, attributing the growth to the coordinated efforts of Central Asian countries.
"Overall, approximately $40 billion has already been invested in the development of this corridor, and investment will continue to grow," the former prime minister concluded.