Azerbaijan Georgia, Kazakhstan ink agreement on railroad

Within the framework of the Silk Road Forum held in Tbilisi on October 26, Azerbaijan Railways JSC, Kazakhstan Railways JSC, and Georgian Railway JSC signed an agreement on the establishment of a joint venture on a parity basis, Azernews reports, citing Azerbaijan Railroads (ADY).

Railroaders of the three countries have joined their efforts to develop multimodal transportation on the Trans-Caspian international transport route.

LLC "Middle Corridor Multimodal" A new company called "International Financial Center Astana" is being established.

Within the framework of joint activity, the company will provide services on the principle of "one window", guarantee cargo delivery terms, and realize of coordinated policy on the development of multimodal service in the direction of China, Europe / Turkiye, China.

The Silk Road Forum was founded by Georgia's Prime Minister Irakli Garibashvili in 2015. This year's forum was attended by over 2,000 participants from more than 60 countries. The forum focused on topics such as the new architecture of the East-West Trade, the increasing role of the Middle Corridor, digital connectivity, diversification in the energy sector, tourism sustainability, and diversified investments for a resilient future.

The joint venture agreement is an important step in the development of the Silk Road Forum and the region as a whole. The agreement will help to create a more efficient and resilient transport infrastructure, which will in turn lead to increased economic growth and development in the region.