Azerbaijan is one of the key leaders in regional cooperation and coordination, World Bank Regional Director for the South Caucasus Rolande Simone Pryce said during the plenary session titled “Realizing CAMCA’s Development Potential: Political Foundations of Regional Cooperation” at the CAMCA 2026 Regional Forum held in Baku, APA reports.
She said that the World Bank’s new report assessed the development potential of the Middle Corridor through 2040.
Rolande Simone Pryce noted that if investment in infrastructure and services is increased, trade volumes along the corridor could triple by 2040, while travel time could be reduced by half.
“If we invest in trade facilitation, service delivery and cross-border cooperation, the potential is even greater. We expect trade volumes to quadruple by 2040, travel time to be reduced by up to two-thirds, GDP across the nine countries covered by the report to increase by 3.3 percent, and 22 million jobs to be created,” she emphasized.
The World Bank official said that the main objective of the Middle Corridor is not merely to create a transit route, but to ensure the development of economic activity, interregional trade and business along the corridor.
She particularly noted that Azerbaijan plays an important role in regional cooperation and coordination.
“I am aware of the important work Azerbaijan has done, particularly its activities related to the corridor. Azerbaijan is one of the key leaders in much of the cooperation and coordination work we are discussing,” Rolande Simone Pryce said.
She said that a shared vision has already emerged in the region, including in Azerbaijan, and that it is important to take this ambition further at the next stage.
“A great deal has already been done. This is a very different region from the one I came to in 2023. Yes, there is a shared vision. What we are proposing is to take this ambition even further so that we can reap the benefits,” the World Bank Regional Director added.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
