Baku:Freight flows along the Trans-Caspian Transport Corridor (TCTC) are projected to increase 3.6-fold by 2040, according to a World Bank report titled 'Integration World-Class Trade Logistics Along the Trans-Caspian Transport Corridor.'

According to Azeri-Press news agency, the report outlines that under the development scenario, the total volume of freight transported via the corridor could rise from 8.8 million tons in 2023 to 32.1 million tons in 2040.

The World Bank suggests that the Trans-Caspian Transport Corridor has the potential to transform from a mere transport route into a comprehensive economic corridor. Such a corridor would not only facilitate freight transportation but also attract investment, foster productive economic activity, create jobs, and connect businesses, workers, and markets through efficient logistics.

The assessment by the World Bank indicates that developing the TCTC could lead to an average GDP increase of 3.3% and boost employment by 2.9% across the corridor countries in the long term. However, realizing the corridor's full potential will require more than just infrastructure investments. The development of logistics services, trade facilitation, digital systems, and international cooperation are also crucial.

One of the main challenges highlighted for the development of the Trans-Caspian Corridor is improving its overall performance. Currently, bulk commodities like grain, fertilizers, construction materials, and fuel make up 92% of the freight transported across the Caspian Sea.