Rethinking Economic Potential of the Caspian Region: Case of Transport

Abstract

The paper critically captures ideals and realities of turning the Caspian region into an emerging global trade centre and, consequently, a promising transport hub within the International North-South Transport Corridor given the redirection of Russia’s foreign trade flows under the sanctions imposed by the West. Thus, creation of a designed “Caspian Consortium for Development” might be a good tool for a complex and inclusive utilization of economic potential of the basin. As of today, transport and logistics dimension of this initiative looks one of the most burning. However, a bundle of related chronicle problems of the region lasting from early 2000s requires revised approaches and mutual concessions both at interstate and corporate levels.