Prospects for cross-border transport corridors in Eurasia, realising their economic potential, reducing costs and coordinating efforts of authorities and businesses will be key topics discussed by government representatives, businesspeople and experts at the Eurasian Development Bank’s (EDB) Annual Meeting and Business Forum on 27–28 June in Almaty.
The session titled “The Eurasian Transport Network: Potential, Challenges and Solutions” will present a report analysing the development prospects of cross-border transport corridors crucial to the region’s economies. The report highlights that the remoteness of Central Asian countries from global markets and their landlocked status pose significant constraints to their economic development. According to EDB estimates, trade costs in some Central Asian nations are 40% higher than those of coastal states. Overcoming the lack of transport connectivity is key to unlocking the strong economic potential of all Central Asian countries.
The concept of the transport network is based on the understanding that linking East–West and North–South transport corridors generates synergies, creating new routes, logistics opportunities and better through tariffs. The EDB projects that freight traffic along the three main corridors crossing Central Asia (Central Eurasian Corridor, TRACECA and North–South) might increase by almost two-thirds to 1.7 million containers (TEU) by 2030. Implementing this objective will require concerted efforts from all participating countries.
Questions to be discussed during the transport session include: what are the priorities for developing the freight base for the Eurasian Transport Network corridors and what needs to be done to boost passenger traffic?
