ArmInfo.The Eurasian Development Bank (EDB) has released an analytical study on the potential of the North-South International Transport Corridor.
As presented in the brief description of the preamble by the Bank, the study introduces the idea of a Eurasian transport framework that would offer numerous benefits to the EAEU countries. The International North-South Transport Corridor is the key longitudinal corridor in Eurasia. EDB analysts estimate that container traffic along the INSTC could reach from 325,000 to 662,000 TEU.
Linking up the INSTC with Eurasian latitudinal corridors could ensure around 40% of container traffic. Non-containerised traffic could reach 8.7-12.8 million tonnes by 2030, mainly due to the transportation of grain crops. Digitalisation and soft infrastructure play an important part in achieving these goals.
It should be noted that International North-South Transport Corridor (INSTC), is a multi modal transportation established in 12 SEP 2000 in St. Petersburg, by Iran, Russia and India for the purpose of promoting transportation cooperation among the Member States. This corridor connects India Ocean and Persian Gulf to the Caspian Sea via Islamic republic of IRAN, then is connected to St. Petersburg and North European via Russian Federation.
The INSTC was expanded to include eleven new members, namely: Republic of Azerbaijan, Republic of Armenia, Republic of Kazakhstan, Kyrgyz Republic, Republic of Tajikistan, Republic of Turkey, Republic of Ukraine, Republic of Belarus, Oman, Syria, Bulgaria (Observer).
