North-South transport corridor

Speculation is on-going concerning the North-South transport corridor which will connect Iran to Georgia via Armenia and the possibility of this route expanding to Batumi and consequently to Europe. The idea of connecting Asian countries to Europe has been active from some time now. Current circumstances give ground to suggest that new methods of transportation are sorely after the widespread unrest in the Middle East and the difficulties this caused. There is a need for alternative routes and transportation facilities thus the concept of the South-North transport corridor has become very important recently. Different financial organizations have become interested in the idea. At the end of 2009, Asian Development Bank allotted USD 500 mln credit to Armenia for modernizing the North-South transport corridor existing segments. On April 23, 2011 Armenia's National Security Council officially announced that the first stage of construction works of the North – South transport corridor should start soon. This will facilitate shortening the route connecting Iran with the Georgian port of Batumi. So far all the contacts in the same destination goes from Asia to Azerbaijan and Georgia leaving Armenia outside of the route, so with these newly taken steps Armenia wants to revive its economy. So the route Iran-Armenia-Georgia will become a significant route for trade from 2012.