Of the 10 billion euros pledged in 2024 to develop the Trans-Caspian Transport Corridor (TCTC), 2.5 billion has already been invested in infrastructure or confirmed under specific projects in Central Asia, a senior European Commission official said.
Peteris Ustubs, director for Asia and the Pacific region at the Commission's Directorate-General for International Partnerships, said the rest of the pledged funding has yet to be allocated to projects. He co-chaired the second national TCTC conference in Tashkent on September 30 with Uzbekistan's Transport Minister Ilkhom Makhkamov.
"The financial capacity is there. We have not yet reached its limit, and there is certainly room for further growth," Ustubs said.
The initial commitments of 10 billion euros were announced at an investment forum in Brussels in 2024. At the next forum, held in Tashkent in November 2025, the sides reviewed progress and discussed specific projects. The priority now, Ustubs said, is to make sure the pledged funds are used to build and upgrade infrastructure.
"We want to better understand Uzbekistan's priority needs, identify the main bottlenecks, and if we can remove some of them, all the better. We also want to discuss how the European Union, Team Europe and international financial institutions can help mobilize financing, investment and technical support," the Commission official said.
He said work with Uzbekistan is focused on modernizing and building railways and roads, developing logistics hubs and creating a digital transport system compatible with those of other countries in the region. Border crossings between corridor countries need separate attention, he added.
Building infrastructure alone will not make the route succeed, Ustubs said. It also needs faster border procedures, coordination among countries and predictable conditions for carriers.
"The main constraint for the corridor in the future will probably be the efficiency of its operation," he said. The Trans-Caspian Corridor Coordination Platform aims to ensure that shipments between Europe and Asia take no more than 15 days.
Makhkamov linked Uzbekistan's interest in the corridor to the high cost of delivering goods.
"Transport costs account for a significant share of the cost of our products. That is why developing transport and logistics is one of the issues the president constantly raises during international visits and talks," he told reporters.
Uzbekistan is implementing major strategic projects to develop the Middle Corridor, both domestically and at the regional level, Makhkamov added.
"Work is currently under way on a project to build Uzbekistan's own terminal at a port in Georgia. In addition, to increase capacity on the Caspian Sea, we are implementing projects to set up a joint venture with partners in Azerbaijan, buy new ferries and add more sailings. At the same time, to make the route more economically attractive, 70% discounts on rail shipments have been implemented under the multimodal CASCA+ route. This is a very big opportunity for carriers and businesses," the transport minister said.
At the conference, government officials, international financial institutions and business representatives discussed investment in railways and roads, the development of logistics hubs and the digitalization of transport and trade documents. A separate session was devoted to proposals from private companies and the obstacles they face when shipping along the corridor.
