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    World Money Central Asia

    Central Asia’s freight traffic expected to increase by two-thirds by 2030, EDB reports

    Central Asia’s freight traffic expected to increase by two-thirds by 2030, EDB reports

    Central Asia's freight traffic is set to experience a substantial increase, with projections indicating a rise to 1.7mn TEU (twenty-foot equivalent units) by 2030. This growth, forecasted by the Eurasian Development Bank (EDB), represents a significant expansion in the region's logistics capabilities.

    The Eurasian Transport Network map
    EDB report

    The Eurasian Transport Network (ETN), consisting of five key international transport corridors, is central to this development. These corridors include the Northern Eurasian Corridor, Central Eurasian Corridor, TRACECA (Transport Corridor Europe-Caucasus-Asia), the Trans-Caspian International Transport Route (TITR), and the International North-South Transport Corridor (INSTC). Together, they form the backbone of the ETN, linking Asia, Europe, and the Middle East.

    The EDB highlights that the interconnection of these transport corridors can generate up to 40% additional freight traffic, enhancing trade and reducing transport costs. The ETN aims to improve connectivity, create new logistics opportunities, and provide access to international markets, especially for landlocked countries in Central Asia.

    Key initiatives and projects, such as the Trans-Afghan Corridor and the China-Kyrgyzstan-Uzbekistan transport corridor, are set to further bolster the region's infrastructure. Container traffic along Central Asian corridors is expected to grow by almost two-thirds, reaching 1.7 mn TEU by 2030. This growth will facilitate more efficient transport and transshipment processes, making the region a crucial logistics hub.

    Economic and social benefits from the ETN include increased trade, job creation, and higher tax revenues. A one-day reduction in transport times can increase trade between countries along the corridor by 5.2%. The development of the ETN is expected to transform Central Asia into a vital transport hub, providing significant advantages for the region's economic growth.

    However, challenges remain. Key bottlenecks, such as sections of the Baikal-Amur Mainline (BAM) and rail access to the Azov-Black Sea Basin, need to be addressed to fully realize the potential of the ETN. The development of auxiliary infrastructure, including logistics centers, dry ports, and container terminals, is essential. Private investment and public-private partnerships (PPPs) will play a crucial role in developing the necessary transport infrastructure.

    The EDB also emphasizes the importance of soft infrastructure development, such as harmonization of legislation, digital transformation, and improved coordination mechanisms. Measures like electronic transport and shipping documents, digital tracking infrastructure, and electronic queuing at border crossing points are vital for the success of the ETN.

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    10.07.2024, 13:33   Comments (0)   1225
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