The new platform is expected to elevate cooperation between countries along the route to a new level, uniting individual initiatives into a single strategy for developing transport and logistics connectivity in the region.
As reported by FinFly, this was stated by EU Enlargement Commissioner Marta Kos at the platform's launch conference.
"The Connectivity Agenda Platform will allow us to link individual initiatives and develop a common vision for connectivity development in the wider region. It will also help shape a portfolio of priority projects that truly matter," Kos said.
The platform is also designed to facilitate financing by bringing together governments, international financial institutions and private investors around a common investment agenda.
The Middle Corridor (Trans-Caspian International Transport Route, TITR) is seen by the EU as an important alternative to traditional trade routes between Europe and Asia. However, its development is still constrained by limited capacity and long transit times. Currently, cargo delivery from the China-Kazakhstan border to Romania can take up to 45 days.
"We want to reduce this time to 15 days – significantly faster than shipping by sea to Europe," Kos stated.
Among the main "bottlenecks" of the route, she cited missing links in railway and road infrastructure, capacity constraints and other infrastructure gaps. Additional obstacles include differences in border procedures, system incompatibility and administrative delays.
To address these issues, the EU intends to invest in modernizing transport infrastructure, digitalizing customs procedures and harmonizing regulations among the region's countries.
According to Kos, projects signed under the initiative with EU involvement provide for the allocation of more than €80 million in European funding and can mobilize over €2 billion in investments in transport, energy and digital infrastructure.