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Spectransgarant took part in II Caspian Economic Forum

II Caspian Economic Forum (CEF) took place in Moscow at Skolkovo Technology Park on October 5-6, 2022. CEF is one of the largest discussion platforms where pressing issues of cooperation and enhancement of trading and economic relations between the five ‘Caspian’ member states — Russia, Azerbaijan, Iran, Kazakhstan, and Turkmenistan.

This year the forum’s key topic was the development of transport- and logistics capabilities of the above region.

North-South International Transport Corridor is a strategic transport passage to the Indian Ocean countries and the Pacific region. The International Transport Corridor links Russia with Iran and India and the corridor features three arteries: The eastern one bends around the Caspian Sea via Kazakhstan and Turkmenistan, while the western artery lies through Azerbaijan, and the central one crosses the Caspian Sea.

According to the speakers over the last year the total transported volume of the North-South International Transport Corridor reached 14 million tons and there is a twofold upside potential by 2030.

«The center of the global economy shifts from the Atlantic countries to the Indo-Pacific region (South Eastern Asia, China, and India). We assume this is a long-term trend. In this light, the Caspian region is a strategically important part of the development of the North-South International Transport Corridor, which links Russia with Iran and India. There is no doubt about the sufficiency of the cargo base as trade turnover between these countries is destined to grow,» as per representatives of Spectransgarant LLC.

According to the company projections there are economic and geopolitical premises for the growth in dangerous good transportation volume via the North-South International Transport Corridor to and from Iran and India. As the same time, the existing issues with cross-border payments and insurance services enabling cross-border payments, port infrastructure, lack of vessels, and lack of uniform tariff setting rules for the participating countries substantially hamper growth and development of the International Transport Corridor from the logistics standpoint. Dmitry Sorokin, Deputy General Director for Development of Spectransgarant LLC, expressed this standpoint in his presentation. According to Dmitry, this results in price excesses and makes logistics via this route price prohibitive for clients.

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