Newsletters
The Turkish Investment Fund (TIF) has expressed its commitment to enhancing infrastructure development along the Middle Corridor, also known as the Trans-Caspian International Transport Route, with a focus on long-term strategic investments, TIF Chairman Bagdat Amraev said.
During his remarks at the Global Transport Connectivity Forum held in Istanbul, Amraev emphasized that the Middle Corridor is gaining traction as a vital trade route, with regional governments ramping up investment in transport and logistics infrastructure.
The Middle Corridor provides a strategic land-based connection between Asia and Europe, bypassing longer maritime routes. It starts in China and crosses through Kazakhstan, Uzbekistan, and Turkmenistan, then over the Caspian Sea through Azerbaijan, Georgia, and Türkiye, before reaching Europe.
According to Azerbaijan-based azernews.az, Amraev noted that the Fund’s primary goal is to support economic integration and connectivity among Turkic states.
“These national efforts must be integrated into regional coordination and broader international cooperation to transform the corridor into a more stable and competitive alternative for global cross-border trade,” he said.
In the near term, TIF intends to support initiatives aimed at improving “soft connectivity,” which refers to non-physical measures such as harmonizing regulations and streamlining customs procedures.
Over time, the Fund plans to co-finance large-scale “hard infrastructure” projects to further strengthen the corridor’s capacity.
Amraev also pointed out that TIF is looking to promote partnerships with both public and private sector actors to finance and develop these initiatives collectively.
The Turkic Investment Fund (TIF), launched in March 2023 with $600 million in capital, is the first joint financial body of the Turkic states—Azerbaijan, Hungary, Kazakhstan, Kyrgyz Republic, Türkiye, and Uzbekistan.
The Global Transport Connectivity Forum, which took place in Istanbul from June 27 to 29, brought together representatives from 80 countries, including 38 ministers, 17 deputy ministers, and over 30 organizations.
According to Transport Minister Abdulkadir Uraloglu, a total of 12 memoranda of understanding were signed during the forum, aimed at expanding transport connectivity, especially through the Middle East Corridor.
Uraloglu also revealed that Türkiye signed cooperation agreements with 7 African nations on strengthening transport integration. “With this agreement, the African continent will be integrated into the Development Road via the Persian Gulf and into the Middle Corridor through Türkiye,” he stated.
1 min read
