International North–South Transport Corridor: Boosting Russia's "pivot to the South" and Trans-Eurasian connectivity

Evgeny Y. Vinokurov (), Arman Ahunbaev () and Alexander I. Zaboev ()
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Evgeny Y. Vinokurov: Eurasian Development Bank, Moscow, Russia
Arman Ahunbaev: Eurasian Development Bank, Almaty, Kazakhstan
Alexander I. Zaboev: Eurasian Development Bank, Moscow, Russia

Russian Journal of Economics, 2022, vol. 8, issue 2, 159-173

Abstract: The Russian economy will have to adjust its logistics to face the new reality. The operationali­zation of the multimodal International North–South Transport Corridor (INSTC) is an important strategic part of it. This "pivot to the South" by Russia and other Eurasian Economic Union (EAEU) countries is of particular significance in light of the required reconfiguration of supply chains in Eurasia. Russian exporters, importers and freight forwarding companies' needs in alternative logistical opportunities have increased dramatically. The INSTC development would promote Eurasian intra- and transcontinental connectivity, reduce export costs, develop new production niches, and realize the Caspian region's transit potential. This study estimates that the aggregate potential INSTC freight traffic via all the routes and modes of transport, including containerized and non-containerized cargoes, will reach 15–25 million­ tonnes by 2030. The container traffic could rise 20x and this will require investments in hard infrastructure and also soft infrastructure improvement. The corridor will contribute to the evolving outline of the trans-Eurasian transport backbone and bring significant benefits for the economies of Russia, Central Asia, the Caucasus, Middle East, and South Asia.

Keywords: International; North–South; Transport; Corridor; INSTC; supply; chains; trans-Eurasian; transport; backbone; international; trade; international; logistics; Eurasia; Caspian; Sea (search for similar items in EconPapers)
JEL-codes: F15 F17 L92 O19 R11 R41 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:arh:jrujec:v:8:y:2022:i:2:p:159-173

DOI: 10.32609/j.ruje.8.86617

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