Azerbaijan, Kazakhstan, Georgia sign protocol on Trans-Caspian transport route

Azerbaijan, Kazakhstan and Georgia signed a protocol at a meeting of the Trans-Caspian International Transport Route (TITR) Association's Legal Entities Union here on Saturday.

Heads of the leading railway and shipping companies from the three countries signed the document.

The parties confirmed the regulations on membership in the Legal Entities Union, composition of the working group on the development of the transport route and its 2017 action plan.

The TITR, which has been created to provide transport connections between the East and West of Eurasia, runs through China, Kazakhstan, Azerbaijan, Georgia and then to Europe via Turkey and Ukraine.

The first test container train arrived in the Baku International Sea Trade Port from China via this route in August 2015.

In January 2016, Azerbaijan, Kazakhstan and Georgia plus Ukraine decided to apply the competitive tariffs for cargo transportation via the route.

In October 2016, Azerbaijan, Kazakhstan and Georgia signed an agreement on the establishment of the TITR Association, whose office was located in Astana, the capital city of Kazakhstan.

The association works to attract transit and foreign trade cargo as well as to focus on the development of integrated logistics products via the route.

About 300,000 to 400,000 containers are expected to be transported via the route by 2020, which will bring huge profits to Azerbaijan.

Azerbaijan is also expected to become a major regional transport hub with its growing infrastructure. Endi