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How the Trans-Caspian Corridor will Revitalize Trade between Asia and Europe.

Kazakhstan's Transport Minister, Marat Karabayev has stated that geopolitical tensions are disrupting traditional logistics chains and jeopardizing global trade. As reported in an article published in the Chinese business publication, "South China Morning Post, " he claimed that developing the Trans-Caspian transport corridor is essential for increasing transit potential. Karabayev believes the Trans-Caspian international transportation route is an effective alternative to traditional maritime routes. The overland corridor connects Southeast Asia and China with Europe, crossing Kazakhstan, Azerbaijan, Georgia, and Turkey. Last year, cargo traffic along this route exceeded 2.7 million tons, up 86%. "Kazakhstan can play a key role here. As the largest country between Asia and Europe, it is an important transit hub for trade between the two continents. Kazakhstan accounts for about 80% of all land transit traffic from China to Europe,” said Karabayev. He noted that the Trans-Caspian corridor has undergone a steady development over the past decade. In recent years, geopolitical changes have given it additional impetus, especially since the number of container ships crossing through the Suez Canal in 2023, decreased by 67% and the cost of sea transportation from Shanghai to European countries has almost tripled in recent months. Given that overland transit would reduce costs and become a more viable logistical option, Kazakhstan is committed to improving infrastructure and terminal facilities, increasing rolling stock, removing administrative barriers, and creating favorable carrier conditions. "However, for the Middle Corridor to achieve its goals, we need the support and participation of other countries," advised Karabayev. "Austria, Germany, Latvia, Latvia, Lithuania, Estonia, and Hungary have expressed interest in joining the Trans-Caspian International Transport Route Association. The EU recently announced an investment of 10 billion euros ($10.85 billion). In addition, a roadmap for development until 2027 has been agreed with Azerbaijan, Georgia, and Turkey.”

Central Asia Uzbekistan International Affairs Business & Economy Uzbekistan Business & Economy Uzbekistan International Affairs

First NPP Reactor in Uzbekistan May Start Before 2033

Spot.uz reports that the first reactor of the Small Nuclear Power Plant is planned to be operational in five years. The project will be built near Tuzkon Lake, Farish District, Jizzakh Region. The cost has yet to be disclosed. “The cost of the low-power nuclear power plant construction project based on six RITM-200N reactor units with an installed capacity of 330 MW is confidential information and will not be disclosed,” Uzatom told Spot.uz. The small nuclear power plant's first reactor will be commissioned 60 months after the completion of priority works, which should begin this summer. Each subsequent reactor will be commissioned within six months. The full commissioning will occur before 2033. “During the construction of a low-power nuclear power plant, local general industrial equipment, products, and components are used by the specifications specified in the project documents. Considering the long service life of the small nuclear power plant, it is necessary to use local raw materials,” Uzatom stated. The Times of Central Asia previously reported that the contract for the construction of the NPP was concluded on May 27th, during Russian President Vladimir Putin's visit to Tashkent, between the Directorate for NPP Construction under the Atomic Energy Agency and the Atomstroyexport joint stock company (Rosatom’s engineering department).

Central Asia Uzbekistan Turkmenistan International Affairs Kyrgyzstan Kazakhstan Kazakhstan International Affairs Business & Economy

South Korea Set to Intensify Cooperation with Central Asia

With the intention of intensifying cooperation between Seoul and Central Asia, South Korean President Yoon Suk-Yeol will make a state visit to three Central Asian countries from 10-15 June. As reported by Kim Tae-hyo First Deputy Director of the National Security Office of the Presidential Administration, President Yoon Suk-Yeol accompanied by his wife Kim Gong Hee, will visit Turkmenistan, Kazakhstan, and Uzbekistan and engage in talks with the countries' leaders as well as participate in business forums. Kim Tae-hyo emphasized that South Korea aims to intensify diplomacy and cooperation with Central Asia through wide-ranging efforts. These include a regular summit of the Korea-Central Asia K-Silk Road Initiative, the first of which will be hosted by Seoul next year. “Through this initiative, we intend to promote the joint, free, and peaceful development and prosperity of Korea and the Central Asian region,” stated Kim Tae-hyo The main areas of cooperation under the Initiative include the development of four key sectors : natural resources, official development assistance, cultural and people-to-people exchanges, and enhanced official and private contacts. Areas for cooperation will be identified and prioritized in each of the five Central Asian countries :Kazakhstan, Kyrgyzstan, Turkmenistan, Uzbekistan and Tajikistan. Cooperation in Kazakhstan will focus on energy and infrastructure; in Kyrgyzstan, water resources and tourism, and in Turkmenistan, constructing energy plants. Seoul makes no secret of its high interest in the region's rich natural resources, including uranium, lithium and tungsten.

Central Asia Kyrgyzstan Kyrgyzstan Local Politics Business & Economy Kyrgyzstan Business & Economy

Traders Rally in Kyrgyzstan

As reported 24.kg, entrepreneurs of the auto parts company, Dordoi Motors have rallied against the introduction of electronic invoices (EI) and electronic bills of lading (EBL). The rally was attended by 380 Dordoi Motors entrepreneurs and according to a spokesperson, market traders from Osh Bazaar and Aziz market plan to join their campaign. “We are not against working, but unnecessary red tape with EBL hinders trade,” said one of the rally participants. Addressing the throng, market director Erkin Salymbekov , suggested that the protesters continue working or suspend trading until the issue is resolved. It should be noted that last year, Salymbekov, vice president of the Dordoi association stated that the introduction of EBL would play an important role in developing the country's economy and called for entrepreneurs' support of the government's policy. From 1 January this year, all markets in the country were to switch from the patent system to the EBL and electronic invoice. However, as a result of the rally held by traders associated with Kyrgyzstan's largest market , Dordoi, the president has postponed the transition to electronic bills until July 1st, 2024.

Central Asia Kazakhstan Local Politics Local Politics Kazakhstan Business & Economy Kazakhstan Business & Economy

Kazakhstan Poised for Large-Scale Locust Invasion

At a central operational headquarters meeting to counteract the spread of locusts, Vice Prime Minister of Kazakhstan Serik Zhumangarin received new reports on projected risks to the region. Alarmed by the forecast, Zhumangarin announced, "We have never before faced such a wide spanning infestation of locusts and must not underestimate the possible consequences. I instruct the Committee of State Inspection of the Ministry of Agriculture to immediately finalize all procedural issues and send necessary equipment to the regions where it is needed. In the hot season, as a precaution, we will switch to meetings at the headquarters twice a week" The government reported that 260,000 hectares had already been treated in the Turkestan Oblast, but thereafter, the areas affected by locusts had spread to an additional 50,000 hectares. Treatment is therefore being extended to the districts of Arys City, Saryagash, Keles, Ordabasinsk, and Shardara. According to forecasts, the largest invasion of locusts is expected in the regions of Kostanay and Aktobe. "Locusts have always been with us, from the time of dinosaurs and mammoths. We have always and will continue, to battle them," stated Zhumangarin. He then said that whilst locusts are regarded as halal and some countries have learned to harvest them as a source of great protein food, that's not us, I guess!"

Central Asia International Affairs Business & Economy

EDB Concept for Eurasian Transport Network

On 6 June, the Eurasian Development Bank (EDB) announced that it is preparing a concept for the Eurasian Transport Network aimed at enhancing connectivity across Eurasia and stimulating economic development, trade and mobility in the region. The EDB is a multilateral development bank with investments in the Eurasian states of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The Eurasian Transport Network is a system of international transport corridors and routes spanning over 50,000 kilometres. In 2023, five key corridors — the Northern, Central and Southern Eurasian Corridors, TRACECA (including the Trans-Caspian International Transport Route) and the International North-South Transport Corridor — carried 260 million tons of freight and 3.6 million international containers. According to the EDB, container traffic has tripled over the past decade. Having mooted the notion of the Eurasian Transport Network back in 2021, the EDB is now poised to present a detailed concept of its development. Analysis has shown that the synergy of corridors is ensured not through their competition, but through the connection and complementarity nature of its routes. The concept includes ten key elements, including addressing Central Asia’s challenges by making the region a transport crossroads, focusing on intra-regional connectivity, and providing a strong impetus to realize the region’s vast agro-industrial potential through new logistics and specialized rolling stock. The EDB’s new report, titled The Eurasian Transport Network, also examines promising transport infrastructure development projects and initiatives, including cooperation between countries and multilateral development banks towards their implementation. The report will be launched at the EDB Business Forum, scheduled for 27–28 June 2024 in Almaty, Kazakhstan.