In the panel discussions on the topic of "Open Corridor Policy: Deepening Trans-Caspian Cooperation" organized within the framework of the Munich Security Conference, as well as in the interview of the President of Azerbaijan Ilham Aliyev to the "France 24" TV channel, the importance of the International Trump Route for Peace and Prosperity (TRIPP), including the Zangazur corridor, was especially emphasized.
So, how much revenue does the Zangazur corridor promise to Azerbaijan?
During his speech at the panel discussions, the President of Azerbaijan stated that the corridor will benefit not only the West and the East but also the countries located in the South Caucasus. The commissioning of the Zangazur corridor will support the economic development of the region's states as a whole. On one hand, strengthening Central Asia and economically growing China, and on the other hand, Europe with increasing demand for consumer goods will be able to carry out freight shipments via the corridor.
According to preliminary assessments, the utilization of the Zangazur corridor may lead to an additional 2 percent increase in Azerbaijan's non-oil economy and an annual increase of 700 million dollars in non-energy exports. According to the calculations of the World Bank, in the medium term, the corridor may facilitate a trade turnover of 50 billion dollars.
The "Bloomberg" agency believes that the use of the corridor on the Europe-Asia route will save 12-15 days in freight transportation. It is expected that trade turnover between the continents will increase by 200 billion dollars. If 10-15 percent of the cargo is transported via the Zangazur corridor, Azerbaijan will obtain transit revenue of 3.0 billion dollars per year in the near future.
As can be seen, the commissioning of the Zangazur corridor will not only change the freight transportation map in the region but in the entire continent.
Vugar Bayramov,
economist deputy