TEHRAN Iran will host the 17th meeting of the Intergovernmental Commission of the Europe-Caucasus-Asia Transport Corridor (TRACECA) for the first time on Wednesday, February 26, the head of the International Affairs Center at Iran's Transport and Urban Development Ministry said.According to a report by the ministry, Amin Taraffo stated that a preliminary meeting of TRACECA national secretaries will be held on February 25 to review and finalize documents for decision-making at the main session the following day.The official emphasized the significance of the event for Iran, noting that the meeting provides an opportunity to advance regional initiatives within the 14-member commission.He added that Iran aims to leverage the platform to enhance transit cooperation and boost regional trade.TRACECAis an internationaltransportprogram involving theEuropean Unionand 12 member states of the Eastern European, Caucasus, and Central Asian region.The program aim is to strengthen economic relations, trade, and transport in the regions of theBlack Seabasin,South Caucasus, and Central Asia.It has a permanent Secretariat, originally financed by theEuropean Commission, inBaku, Azerbaijan, and a regional office inOdesa, Ukraine.
Since 2009, the organization has been entirely financed by member countries.TRACECA was established in May 1993 inBrussels, upon the signing of a Multilateral Agreement on International Transport for the development of transport initiatives (including the establishment and development of a road corridor) between theEU member states,Eastern European,CaucasusandCentral Asiancountries.
The program supports the political and economic independence offormer Soviet Unionrepublics through enhancing their access toEuropeanand global markets through road, rail and sea.The objectives of TRACECA were underlined by theBaku Initiativeof 2004,followed by a further ministerial conference inSofia, Bulgaria, in 2006.TRACECA has five working groups: maritime transport, aviation, road and rail, transport security, and transport infrastructure.In July 2023, it was announced for TRACECA to join theeTIRinternational system.EF/MA