Future Potential of Trans-Caspian Corridor: Review

Abstract

Background: The Middle Corridor, a transport route from Asia to Europe that also facilitates major energy projects through the Caspian Sea and its surrounding countries, has gained even more attention after the intensification of the conflict in Ukraine in 2022. Methods: On the basis of major scientific papers on the topic, foreign policy addresses from The Diplomat and studies by the United Nations and Asian Development Bank Institute, a framework with five aspects was created. In addition, two interviews with sector stakeholders were conducted to apply the framework and determine the relevance of the route to Finnish and Estonian economies. Results: A multifaceted overview of the current economic, political, and infrastructural state of the Trans-Caspian trade route is given. The practical value of the article lies in creating a framework for evaluating the route for related economies and testing this out for the Finnish and Estonian economies. Conclusions: Despite the challenges, there are enormous opportunities in this logistics route, especially with the restrictions facing Russia due to western bloc sanctions. Finland and Estonia, however, are suffering under the effects of war in Ukraine and the related sanctions, which has hindered the capacity to further enhance development projects.