Baku. 15 December. REPORT.AZ/ Azerbaijan has great potential in the field of transit and freight traffic, but at present, this potential is not fully used. Report informs, Minister of Economy and Industry, Chairman of the Coordination Council for Transit Cargo, Shahin Mustafayev said in his interview with newspaper "Azerbaijan".
S.Mustafayev noted that, despite the many advantages of Transport Corridor Europe-Caucasus-Asia, covering China, Central Asia, the Caspian Sea, Azerbaijan and Georgia and the Black Sea, a recent decline was observed in freight corridor: "In the Azerbaijani part of the corridor during the 2010-2014, annual transit cargo decreased by 45% - from 8.3 to 4.5 mln. tons. This is due to the weak coordinating freight member countries of the transport corridor, the imperfection of the procedures and the lack of competitive tariffs for cargo transportation."
According to the minister, this is the shortest and therefore more profitable route between China and Europe: "Expansion of trade relations between Asia and Europe creates a great opportunity for the development of the corridor Europe-Caucasus-Asia, passing through the territory of Azerbaijan. After the commissioning of the Baku-Tbilisi-Kars railway, will be provided a direct access to Europe by land."