Europe is ready to invest €10 billion in TITR

European and international financial institutions are ready to invest €10 billion in developing the Trans-Caspian International Transport Route (TITR), according to Kaja Kallas, High Representative of the European Union for Foreign Affairs and Security Policy.

During a press conference in Ashgabat, Turkmenistan, she stated that the development of TITR is a major ongoing project, and many European and international financial institutions are prepared to invest more than €10 billion into it, as reported by Turkmenportal.com.

TITR is a key logistical corridor stretching from China to Europe via Kazakhstan, the Caspian Sea, Azerbaijan, Georgia and Turkey. Also known as the Middle Corridor, it plays a crucial role in strengthening economic integration between Central Asia and Europe and diversifying transport routes.

Kallas emphasized that the EU is eager to expand its cooperation with Central Asian countries. For example, the EU plans to engage with Central Asia in various sectors, including academia and business.

Earlier this month, the EU signed a €3 million agreement on critical minerals with Central Asian states. Under this arrangement, European companies will participate in mineral exploration, production and supply.