The World Bank on Wednesday published an updated report, Integration: World-Class Trade Logistics Along the Trans-Caspian Transport Corridor, highlighting the economic potential of strategic investments in the Trans-Caspian Transport Corridor (TCTC), also known as the Middle Corridor.

According to the report, such investments could more than triple trade volumes along the route by 2040, halve travel times, increase GDP by 3.3%, and create an additional two million jobs.

The report also highlighted the economic importance of the Anaklia Deep Sea Port and the advantages of the “landlord” port model.

“The Georgian Government is developing the Anaklia Deep Sea Port, located north of Poti, with operations expected to begin in 2029. The port will have sufficient space for future development, allowing it to expand over time. It will be capable of handling the largest vessels expected to operate in the Black Sea and will be connected to its hinterland through multimodal transport links”, the report said.

“More importantly, the Anaklia Port is being developed under the ‘Landlord’ model, introducing a port-sector management approach that is consistent with global best practices and has not previously been applied in Georgia’s general cargo seaports”, the document noted.

The World Bank added that the approach is expected to help attract private-sector investment while maintaining state control, facilitate the development of world-class services, and eventually allow more than one terminal and terminal operator to operate within the Anaklia Port.

“As a result, it will be possible not only to foster competition between ports, including Poti and Batumi, but also to establish competition within the Anaklia Port itself”, the report concluded.