Caspian Sea corridor opens opportunities for Azeri grain market

Aleksander Korbut, the vice president of the Russian Grain Union, has said that Azerbaijan was “an attractive element” for the international grain market and trade logistics, Azerbaijani state news agency AzerNews has reported.

Speaking at a conference in Baku on October 24, Mr Korbut that the adoption of an interstate convention on the legal status of the Caspian Sea signed by Russia, Kazakhstan, Azerbaijan, Iran and Turkmenistan in August 2018 has changed regional trade and the attitude of the region’s trading partners.

“China wants to reorient its cargo flow from the Central Asia-Iran-Turkey-Europe route to a more direct corridor. The country might make a passage through the Trans-Caspian corridor,” he said about Azerbaijan’s opportunities, adding that the current development in the railway infrastructure between China, Kyrgyzstan and Uzbekistan will also provide a boost to involving the country.

The Baku International Sea Trade Port in the country’s Alat settlement is being considered by neighbouring countries when planning trade, Mr Korbut noted.

According to Farid Hasanov, the operations manager of Azerbaijan’s Astara Grain Terminal, which is expected to be operational by August 2021, the terminal’s initial capacity would reach 500,000 tons per year and an annual capacity of one million tons from 2021.