Heads of railway authorities of Azerbaijan, Kazakhstan, Turkey and Georgia signed a memorandum of understanding (MOU) in Baku on prospects of development of the Trans-Caspian International Transport Route (TCITR), a message from Azerbaijan Railways CJSC said.
Head of Azerbaijan Railways CJSC Javid Gurbanov, President of Kazakhstan Railways JSC Kanat Alpysbaev, Director General of Turkish State Railways Transportation Veysi Kurt and CEO of Georgian Railways JSC Mamuka Bakhtadze had a quadrilateral meeting in Baku.
The sides discussed prospects of the development of the Trans-Caspian International Transport Route, issues on increasing freight traffic via the route and optimization of tariffs.
The agreement to create the Trans-Caspian International Transportation Consortium was signed in April in Baku by the railway authorities of Azerbaijan, Georgia and Kazakhstan.
New competitive tariffs were introduced for the Trans-Caspian International Transport Route on June 1.
The Trans-Caspian International Transport Route runs through China, Kazakhstan, Azerbaijan, Georgia and then through Turkey and Ukraine to Europe. (Trend/Business World Magazine)