Baku-Tbilisi-Kars Railroad: Future Opportunities and Prospects

Book excerpt: After centuries of neglect, the land transport corridors connecting Asia and Europe are on the brink of a rebirth. From practically nothing, a revived network of these land corridors is likely to lead to a considerable share of the freight revenues being generated by the increased trade between Asia and Europe. That is why there is fierce competition among the major players for control in shaping the Asia-Europe railway transport corridors. However, there are also new and exciting possibilities for cooperation among the various players. We will extensively examine and evaluate the transport corridors linking Asia and Europe. The Baku-Tbilisi-Kars railway project will be assessed from the perspectives of the three countries involved: Azerbaijan, Georgia and Turkey. It has been shown that the railroad will economically strengthen the region and better integrate the three host countries into international transport corridors. The Baku-Tbilisi-Kars railroad will certainly play a key role in helping to revive the Silk Road connection, thereby creating common interests and facilitating the transformation of the region. The BTK transport corridor will not only stimulate the economies of the countries involved but help wean them their off oil-dependence and restore their rightful place as major commercial hubs along the once-legendary Silk Road. The attraction of direct foreign investment and establishment of partnerships between the public and private sectors are key issues that will be explored in-depth in this book. By 2025, the region is expected to become a prosperous financial sector and transit area; a comprehensive strategy to that end which incorporates the principles of sustainable growth is being formulated by the countries involved.