Middle Corridor development to deliver major economic gains, says Georgian Deputy Economy Minister
Tamar Ioseliani
Photo: Economy Ministry of Georgia
Tamar Ioseliani, Georgia’s Deputy Minister of Economy and Sustainable Development, said on Tuesday that the World Bank’s latest study underscores the growing importance and economic potential of the Middle Corridor, with planned measures expected to significantly increase cargo capacity and reduce transit times by 2040.
Commenting on the report, Ioseliani said the study once again demonstrates the increasing role of the Middle Corridor as a key international transport route.
“The World Bank’s new study once again highlights the growing role of the Middle Corridor and its economic potential”, she said.
The Deputy Minister also highlighted the broader economic benefits expected from the corridor’s development.
“What is particularly important is the economic impact anticipated from the implementation of these measures. According to the study, GDP across the region is expected to grow by approximately 3.3%, while around two million jobs will be created. Georgia is responding to these opportunities with a coherent and consistent vision for the development of the country’s transport system”, Ioseliani said.
She stressed that infrastructure development remains a central pillar of Georgia’s economic policy.
“By 2032, we plan to invest approximately $7 billion in core transport infrastructure, including the Anaklia Deep Sea Port, the historic modernisation of the railway network, and the development of international airports. It is important to view these projects from a broader perspective that involves close cooperation with our international partners, as we see the corridor as a single system that must be competitive, reliable, fast and efficient”, she added.
According to a new World Bank Group report, countries in Europe and Central Asia can accelerate economic growth, create jobs and attract private investment by improving connectivity along a major trade route linking East Asia, Central Asia, the South Caucasus, Türkiye and the rest of Europe.
The report, titled World-Class Trade and Logistics Along the Trans-Caspian Transport Corridor, states that strategic investments in the Trans-Caspian Transport Corridor (TCTC), also known as the Middle Corridor, could more than triple trade volumes along the route by 2040, halve transit times, increase regional GDP by 3.3%, and create an additional two million jobs.
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