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Suez Canal Shutdown revealed the importance of the Middle Corridor


21 Apr in 8:00
Modern Diplomacy
On March 23 of 2021, a container ship called the “Ever Given” ran aground in Suez Canal, one of the most important waterways in the world, and blocked other vessels from using it. This human-made waterway is one of the world’s most heavily used shipping lanes, carrying over 12% of world trade.
Modern Diplomacy reports that this canal is also responsible for the transportation of 7% of the world’s oil and 30% of daily container shipments.  Therefore, the blockage of the canal has considerably affected global trade.  According to Lloyd’s List, a London-based shipping news journal, the estimated daily value of cargos passing through the canal is $9.7 billion, with $5.1 billion traveling westward and $4.6 billion traveling to eastward directions. The incident forced some ships to use the alternative route around Africa’s southern tip, which is dangerous and increases the transportation costs and time. ....

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Reviving Silk Road to increase interaction: Erdogan


Turkish president notes significance of strong regional, global cooperation amid pandemic
Merve Aydogan and Gozde Bayar   |
04.03.2021
ANKARA
Turkey s president on Thursday stressed the importance of revitalization of the historic Silk Road, telling it would increase interaction between the East and West. 
Speaking at the 14th Economic Cooperation Organization (ECO) Leaders Summit, Recep Tayyip Erdogan said Turkey s leadership in the revitalization of the historic Silk Road aiming at the Trans-Caspian East-West-Middle Corridor Initiative will increase the interaction between the East and West.
We welcome this corridor through launching regular flights to China and from China to Turkey,” he said, adding that work on the resumption of Istanbul-Tehran-Islamabad freight train expeditions has reached its final stage. ....

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