South Caucasus Gateways the proposed regional knowledge and support technical assistance (TA) will facilitate the development of a regional cooperation approach to unleash the economic potential of the South Caucasus region comprising of Armenia, Azerbaijan and Georgia in the new realm of reopening gateways agreed in the 2020 Armenia-Azerbaijan Ceasefire Agreement, APA-Economics reports citing ADB.
"The South Caucasus Regional Cooperation Approach (SCRCA) will assess the benefits of economic cooperation within and beyond the region, amidst political uncertainties. The approach will provide options to identify and optimize international and domestic gateways and provide a roadmap for the region to regain its historical significance for trade and transit especially with Central West Asia and as a bridge to Europe.
Blocked historical transport routes because of divided land and closed border crossing points result in high costs for trade, reducing the competitiveness of the region's exports. New gateways can yield considerable economic benefits for the region and hence support the political peacebuilding process," the information reads.