Port of Baku Inks Cooperation Deal with BPI Co.
Azerbaijan’s Baku International Sea Trade Port (Port of Baku) signed a Memorandum of Cooperation with Bulgarian Ports Infrastructure Company (BPI Co.) at the fourth meeting of Bulgarian – Azerbaijani Intergovernmental Commission for Economic Cooperation held in Baku on September 29, 2016.
The duo agreed on enhanced cooperation and exchange of experience between the Port of Baku and ports of Varna and Burgas.
Port of Baku is said to be an important participant of both East-West and North-South corridors which are in the interest of Bulgaria in terms of having an access to Central Asia.
In 2015, the Joint Committee of Trans-Caspian Transport Corridor was established between the Port of Baku, the Port of Aktau in Kazakhstan, and the Sea Port Poti in Georgia. The three parties signed a Memorandum of Understanding with the aim to attract extra cargo carried via the Trans-Caspian Transport Corridor. In January 2016, Ukraine also joined to the Trans-Caspian Transport Corridor.