Lin Goethals

The Trans-Caspian Corridor: Financial Risk Mitigation for Unlocking EU Connectivity with the Greater Caspian Region and Central Asia

Examining the financial mechanisms underpinning the European Union’s engagement in Central Asia, this Policy Brief focuses on the Trans-Caspian Transport Corridor (TCTC) as a strategic infrastructure and trade initiative. It analyses how instruments such as the European Fund for Sustainable Development Plus (EFSD+), the European Investment Bank (EIB), and the Multilateral Investment Guarantee Agency (MIGA) are deployed to de-risk private investment, foster sustainable development, and strengthen regional connectivity. By assessing both the opportunities and challenges of EU-backed financing, the study highlights how coordinated investment, regulatory frameworks, and risk mitigation strategies can enhance economic integration, diversify supply chains, and support the EU’s broader geopolitical and green-transition objectives in the Greater Caspian Region.

In Memoriam – Paul Joseph Lim

It is with great sadness that we inform you of the passing of Dr. Lim Huat Chye Paul Joseph, one of the co-founders of the European Institute for Asian Studies. Suffering from a virtually incurable illness, he passed away on 21 July 2025 at the St-Luc Clinic in Bouge (Namur). Our heartfelt condolences go to his family, closest friends and loved ones.

The Impact of CBAM in the Greater Caspian Region

The EU’s Carbon Border Adjustment Mechanism (CBAM) will enter its definitive phase in January 2026, and CBAM tariffs are set to have major ramifications for countries exporting goods to the EU. What will be the impact of CBAM on Azerbaijan, Kazakhstan and Turkmenistan, also referred to as the Greater Caspian region?

The EU-Indonesia FTA: Balancing Economic Pragmatism and Environmental Principles

The EU-Indonesia Free Trade Agreement negotiations represent the need for a fundamental balance between economic pragmatism and environmental responsibility. This exemplifies the broader challenges of global trade in the 21st century, with small and medium enterprises (SMEs) bearing a major part of the disproportionate burden created by these contradictory demands.

The Middle Corridor’s Reality Check: Advancements and Challenges in Port Infrastructure in the Greater Caspian Region

Recent geopolitical upheavals, including Russia’s war in Ukraine and the escalating Houthi threat in the Red Sea, have reignited interest in the Trans-Caspian International Transport Route (TITR), also known as the ‘Middle Corridor.’ The corridor puts the Caspian Sea and Greater Caspian Region at the centre of transcontinental transport links by offering an alternative to the longer and politically compromised New Eurasian Land Bridge (NELB) or ‘Northern Corridor’ that crosses Russia. This new multimodal ‘Middle’ corridor connects China and Europe by traversing China, Central Asia, the Caspian Sea, the South Caucasus and the Black Sea before reaching the EU in just 15 days. Beyond offering strategic diversification away from Russia and traditional sea routes, the TITR enables the Central Asian and South Caucasus states to foster economic growth and regional development to create robust and efficient logistical networks.

Central Asia’s Critical Raw Material Dilemma: Resource Powerhouse or Sustainability Risk?

Does the scaling up of Kazakhstan and Uzbekistan’s Critical Raw Material (CRM) production align with the EU’s green and digital transition ambitions? In the vast steppes of Kazakhstan and the mineral-rich mountains of Uzbekistan, a transformation is underway that could also reshape Europe’s green transition. These Central Asian nations, long known for their oil and gas exports, are emerging as potential key suppliers of critical raw materials essential for the European Union’s strategic autonomy goal of diversification, as well as its innovation, digital and environmental ambitions. But can these countries truly align with Europe’s ambitious sustainability goals?

Hungary and Serbia: China’s New Offshore Manufacturing Hubs in the EU?

Chinese greenfield investments in Europe are on the rise, reshaping the landscape of foreign direct investment. Instead of mergers and acquisitions, Chinese companies are increasingly setting up new operations, particularly in Hungary and Serbia. This shift is driven by factors like the EU’s tighter investment screening and China’s strategic focus on long-term market presence. Greenfield investments, especially in sectors like electric vehicles and renewable energy, offer Chinese firms fewer political hurdles, while supporting local economies. How are these investments shaping EU-China relations and offering new opportunities and challenges for European policies?

The Middle Corridor’s Reality Check: Advancements and Challenges in Rail Infrastructure

The development of railway infrastructure in Kazakhstan, Turkmenistan, and Azerbaijan is crucial for maximising the potential of the Trans-Caspian International Trade Route (TITR) or Middle Corridor, a vital link connecting Europe and Asia. The Caspian Sea ports, which serve as critical transit hubs, rely heavily on the efficiency and modernisation of rail networks in these countries to enable a smoother and more efficient transit of goods across the region and beyond. Railways offer the most effective means of linking these landlocked nations to ports and markets beyond their borders. However, the conditions of their railroad networks highlight significant development disparities.