A quadrilateral intergovernmental agreement to establish the Caspian Sea-Black Sea international transport corridor is nearing finalization, with a potential signing ceremony planned for September 2024 in Bucharest, Romania.
This statement follows an online meeting held on 30 May 2024, to discuss the draft agreement, according to the Turkmen Agency of Maritime and River Transport (“Turkmendenizderyaellary”).
During the meeting, Turkmenistan voiced its strong support for the creation of this international transport route. The delegation also expressed their willingness to actively participate in finalizing the agreement.
The Black Sea-Caspian Sea transport route, involving Romania, Georgia, Azerbaijan, and Turkmenistan, is expected to unlock significant benefits for the region:
The corridor will facilitate trade between countries along the route and is expected to lead to a rise in cargo traffic along the Caspian Sea-Black Sea route. Transportation costs and cargo delivery times are anticipated to decrease.
Earlier reports indicated Romania’s intention to host a joint meeting of Foreign Affairs and Transport Ministers from the four participating countries in September 2024, coinciding with the potential signing of the agreement. ///nCa, 5 June 2024