TBILISI, March 13 (Xinhua) -- The Middle Corridor is becoming a more reliable alternative for international freight as geopolitical tensions and the conflict in Iran render the Iranian route increasingly unfeasible, a European Bank for Reconstruction and Development (EBRD) official said Friday.
EBRD Regional Director for the Caucasus, Alkis Drakinos, told the Georgian online outlet BMG that the conflict in Iran has sharply increased the risks of transporting goods between Asia and Europe, with the Iranian route now largely avoided by shippers.
"We hope that this situation will not last long, but companies are already adapting to the existing risks and developing alternative plans," Drakinos said.
The EBRD regional official further said that the Middle Corridor, also known as the Trans-Caspian International Transport Route, which is a vital trade route connecting Asia and Europe, "is becoming an obvious and attractive alternative."
The EBRD is investing in and providing technical assistance to countries along the route, he said, such as financing the Port of Aktau in Kazakhstan, considering infrastructure projects in Azerbaijan, and making investments in Georgia. ■