The EU and Azerbaijan, together with the European Bank for Reconstruction and Development, will conduct a feasibility study for the Nakhchivan railway development project, SİA informs referring to the EU Delegation to Azerbaijan.
The agreement has been reached between the EU and Azerbaijan.
This is a key investment to improve mobility and economic flows across Azerbaijan and the wider region, according to the statement.
"This railway forms part of the broader Trans-Caspian Transport Corridor, which aims to link Europe and Central Asia with a target transit time of 15 days. Diversified, reliable and resilient routes between Europe and Asia are a shared strategic interest. They deliver mutual benefits and reduce the risks associated with excessive dependencies," reads the statement. "Through innovative financial instruments, alongside bilateral and regional support programmes, further priority projects will strengthen economic ties between the EU and Azerbaijan. They will also support Azerbaijan"s efforts to diversify its economy, strengthen regional connectivity, create skills and job opportunities across the country, and promote inclusive and sustainable rural development."
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