By Laman Zeynalova
Copyright trend
BAKU, Azerbaijan, September 26. Trump Route
will make the South Caucasus region more integrated than ever
before, Efgan Nifti, President of the Caspian Policy Center, said,
He was addressing the sixth annual Caspian Business Forum in New
York held by CPC in partnership with the embassies of the Caspian
Nifti gave opening remarks outlining the remarkable developments
that have taken place in the Caspian region in the last year. He
began by highlighting how the historic initialing of a peace
agreement between Armenia and Azerbaijan, witnessed by President
Donald Trump, can serve to unlock the vast potential of the South
Caucasus and the wider Caspian region.
“The agreement between Armenia and Azerbaijan, mediated with
support from the United States, represents not only a breakthrough
for political stability, but also a new era for economic
connectivity. With the launch of the Trump International Route for
Peace and Prosperity, or Zangezur Corridor, the South Caucasus will
be more integrated than ever before. This corridor has the
potential to cut freight times by up to 40 percent, boost volumes
to 15 million tons, and generate transformative growth—including a
projected 30 percent increase in Armenia’s GDP within two years and
sustained growth in Azerbaijan’s non-oil economy,” Nifti
The CPC President highlighted the growing importance of
transport connectivity in the Capian region through the projects
such as the Middle Corridor. “The Middle Corridor continues to
emerge as a vital artery linking Asia and Europe, and what was once
a secondary route has become indispensable over the last few years,
particularly as Russian routes are hampered by sanctions and
maritime trade is constricted by hostilities in the Middle East,”
Nifti said.
Nifti also shed light on the United States’ growing engagement
in the Caspian region, both at the business and governmental
levels: “Earlier this year, ExxonMobil signed an agreement with
Azerbaijan’s SOCAR to expand onshore oil and gas exploration and
production. Chevron announced a $48 billion expansion of the Tengiz
oilfield in Kazakhstan—one of the world’s largest energy projects,
and we are seeing other companies making similar investments.
Meanwhile, earlier this month, Washington committed an initial $145
million to the TRIPP corridor—an important down payment on a future
of enhanced connectivity and prosperity.”
He noted that these changes are driving increased regional
cooperation and opening up lucrative business opportunities that
were previously unimaginable.
