Steve Wray reflects on discussions from Black Sea Ports and Logistics in Istanbul, focusing on Black Sea transport and logistics infrastructure, geopolitical uncertainty, and the role of the Middle Corridor.
Last week at Black Sea Ports and Logistics I chaired a panel on Strategic and Uniformed Investment Opportunities System in Accordance for Port, Rail and Road Development Projects.
The conference, which took place in Istanbul, brought together experts and professionals from across the ports and maritime sector to discuss the opportunities and challenges for Black Sea marine transportation and logistics infrastructure.
My panel and other speakers at the conference focused on regional challenges and how these link to broader global trends as the industry battle geopolitical uncertainty and conflict impacting trade routes and the movement of goods.
Renewed attention for the Middle Corridor: Trade on the central Asian route that links China to the EU has doubled since 2022 according to a report by the World Bank since sanctions due to Russia’s invasion of Ukraine. This is due to a shift of trade lanes from China but also increased interstate trade between Azerbaijan, Georgia and Kazakhstan with Europe mainly responsible.
However, the route, which goes through these countries and across the Caspian Sea to Turkey and the Bosporus Straits, definitely requires more investment and co-operation between countries in the short and medium term to make it reliable and secure. (....)