• KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09393 -0.21%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 -0.28%
06 October 2024

Viewing results 1 - 6 of 553

China Officially Joins the Middle Corridor

It was announced during the 8th International Silk Road Expo in Xi’an in September 2024 that China will formally join the Middle Corridor under the guise of participation by the China Railway Container Transport Corporation (CRTC). This move signals a growing reliance on Central Asia’s trade-route infrastructure potential. China's shift to overland routes is part of a broader strategy to diversify away from traditional maritime routes through chokepoints like the Strait of Malacca, which carry geopolitical risk. Kazakhstan's strategic geographic location naturally makes it indispensable to China’s trade, and infrastructure projects currently underway represent a key component of the Middle Corridor’s potential. In July 2024, Kazakh President Kassym-Jomart Tokayev ratified agreements with China aimed at further developing the Middle Corridor, enhancing both road and rail infrastructure. The country has already been upgrading its rail infrastructure, modernizing dry ports like Khorgos on the Chinese border, and expanding transit facilities at the Caspian Sea port of Aktau. The increased flow of goods through Kazakhstan is evident: over 212 container block trains have passed through the country by September 2024, with the number projected to exceed 300 by the year’s end. These build-outs, and particularly Kazakhstan’s modernization of its railways, go hand-in-hand with the recently finished improvements along the Baku-Tbilisi-Kars (BTK) line, which connects Azerbaijan to Turkey via Georgia. The expansion of the BTK line's capacity from 1 million to 5 million tons per year has now been completed. As a result of all these efforts, the travel time for goods from China to the Black Sea has been reduced to just 10–12 days, highlighting the efficiency of the corridor. Azerbaijan also plays a crucial role in this economic ecosystem. Baku’s port of Alat serves as a critical transit point for cargo crossing between Central Asia and the South Caucasus. Azerbaijan’s collaboration with Kazakhstan, Georgia, and Turkey has led to significant investments in expanding port facilities and upgrading railway systems beyond the crucial BTK link mentioned above. The result is a smoother, more reliable flow of goods from China to Europe. Azerbaijan is winning its bet to become a regional logistics hub. In addition, a Chinese consortium recently secured the contract for the construction of the Anaklia deep-sea port in Georgia, a strategically important site on the eastern edge of the Black Sea. The project was initially awarded to a Georgian-American consortium, but was cancelled in 2020 due to political and legal disputes. Following a new tender process this year, the Chinese consortium emerged as the sole bidder. If supporting infrastructure is adequately developed and the Black Sea’s cargo transit capacity can be significantly enhanced, then the Anaklia port could become a critical node in the Middle Corridor, enhancing its role in Eurasian trade and bolstering regional connectivity. China’s increased reliance on Central Asian, trans-Caspian, and South Caucasus routes is not just about efficiency. It is also a strategic diversification to mitigate the risks posed by geopolitical instability in other regions. Traditional sea routes through maritime choke-points as well as overland routes like...

China-Kyrgyzstan-Uzbekistan Railway Company Opened in Bishkek

On September 28, LLC China-Kyrgyzstan-Uzbekistan Railway Company opened in Bishkek for the purpose of constructing and operating a line connecting the three countries. The opening ceremony was attended by the Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Akylbek Japarov, the Chinese Ambassador to Kyrgyzstan, Du Dewen, high-ranking officials from the Department of Foreign Capital and Overseas Investment of China’s National Development and Reform Commission, and Uzbekistan’s Minister of Transport, Ilkhom Makhkamov. Emphasizing the railway's importance for the region, Japarov stated: "We call this project ‘the construction of the century.’ It will take economic cooperation between China and Central Asian countries to a qualitatively new level." Currently, neither Kyrgyzstan nor Uzbekistan has a rail link with China, with Central Asia only having a connection to China through Kazakhstan. Kyrgyzstan and Uzbekistan also have no railway connecting the two countries. China, Kyrgyzstan, and Uzbekistan signed an intergovernmental agreement on the railway construction project on June 6 in Beijing. As previously reported by The Times of Central Asia, the 523 km railway will run through Kashgar (China), Torugart, Makmal, Jalal-Abad (Kyrgyzstan), and Andijan (Uzbekistan). A transit and logistics infrastructure will be developed along the route. Once completed, the line will see 15 million tons of cargo annually. In June, Akylbek Japarov confirmed a statement made by Kyrgyz President Sadyr Japarov in April 2024, stating that the railway construction would cost $8 billion as opposed to the preliminarily estimate of $4.7billion. 

Chinese Company to Build Sugar Substitutes Plant in Kazakhstan

Chinese state company CITIC Construction plans to invest more than 1 billion dollars in constructing a plant for deep grain processing in the Almaty region. The agreement was reached during the meeting of the Vice-Minister of Agriculture of the Republic of Kazakhstan, Ermek Kenzhekhanuly, with representatives from the Chinese delegation. The parties discussed the development of Kazakhstan's agro-industrial complex and details of the project to build a production line for deep wheat processing with an annual capacity of 300,000 tons. The enterprise will produce maltose, fructose, crystalline fructose, allulose, crystalline dextrose, sodium gluconate, gluten by-products, and feed. The project will be realized in the Kazbek bi-industrial zone in the Almaty region. CITIC Construction's total investment will be about $1.07 billion, and the total value of its products will be $1.87 billion. More than 2,000 jobs will be created. In mid-July, the Ministry of Agriculture of Kazakhstan signed an agreement with Chinese companies CITIC Construction and Beijing Capital Agro to attract $600 million in investment to develop beef cattle breeding in the country. The funds will be used to establish feedlots, with the partnership expected to involve more than 600 farms and existing feedlots. China is Kazakhstan's leading trading partner. At the end of 2023, agricultural exports from Kazakhstan to China doubled and reached $1 billion. In 2023, the volume of bilateral trade turnover amounted to $41 billion, and Kazakhstan intends to double this figure. In addition, Beijing is one of the leading foreign investors in Kazakhstan, having invested about $25 billion in its economy over the past 15 years.

Kazakhstan to Cooperate with China and Russia in Combating Floods

Kazakhstan’s Ministry of Water Resources and Irrigation will sign a memorandum of cooperation with the Ministry of Water Resources of China to combat future spring floods together. The Kazakh ministry has also agreed with Russia to create a joint working group to coordinate actions during spring flood periods. Kazakhstan’s Minister of Water Resources and Irrigation, Nurzhan Nurzhigitov, announced this at a government meeting on September 24. The conference addressed eliminating the consequences of unprecedented spring floods in the country’s northern and western regions and preparing for future spring floods. Massive floods in the spring of 2024, caused by the rapid snow-melt, destroyed thousands of homes and forced almost 100,000 people to evacuate from flood zones. Much of the spring flood water comes to Kazakhstan via trans-boundary rivers flowing from Russia and China. "To ensure the collection and safe passage of flood water in the future, the ministry plans to build 42 new reservoirs with a total capacity of 2.6 billion cubic meters, as well as to reconstruct 37 reservoirs with a total capacity of 3.7 billion cubic meters and about 14,500 km of irrigation canals. This year, the construction of two reservoirs in the Turkestan region and the reconstruction of three reservoirs in the Aktobe, Turkestan, and West Kazakhstan regions began," Nurzhigitov stated, adding that the spring floods led not only to negative consequences, but also allowed reservoirs to collect more than twelve billion cubic meters of water used for economic needs. As of the beginning of September 2024, 8.4 billion cubic meters of that water were used for agricultural purposes. Nurzhigitov reported that the reservoirs of Kazakhstan's northern, central, eastern, and western regions are now 80% full and added that the spring floods have also helped improve the environmental situation by directing excess water to places where it had not flowed for a long time. For example, 80 million cubic meters of flood waters were directed to the Kamysh-Samar lakes of the West Kazakhstan region. For the first time in decades, water arrived in the lakes of the Kyzylorda region through the Sarysu River. Since the beginning of the year, twelve billion cubic meters of water have been sent to Lake Balkhash, and 7.4 billion cubic meters to the Caspian Sea. Nurzhigitov also stated that, together with the Ministry of Digital Development, Innovation, and Aerospace Industry, work is underway to create an information system for forecasting and modeling floods, which will be launched before the end of the year. "This information system will allow for flood forecasting to make strategic decisions. It will show potential flood risk zones on the map," Nurzhigitov explained. At the same meeting, Deputy Prime Minister Kanat Bozumbayev reported that the 2024 spring floods had affected more than 120,000 people across 12 regions. Bozumbayev emphasized that new housing for families affected by the flood was constructed in an unprecedentedly short space of time. In under four months, 2,576 new houses were built, and 5,767 houses and apartments were purchased on the secondary market. In addition,...

Kyrgyzstan Expands Banking Cooperation with China

The Chairman of the People's Bank of China, Zhang Qingsong, has met with the heads of key ministries in Kyrgyzstan. The parties discussed connecting the National Bank of the Kyrgyz Republic to the Chinese cross-border interbank payment system. Kyrgyzstan's Minister of Finance Almaz Baketaev emphasized the country's interest in using the Chinese payment system and in cooperating with the Bank of China. Currently, only two Kyrgyz commercial banks have correspondent relations with the organization. In addition, the Kyrgyz authorities offered Chinese colleagues the opportunity to invest in securities in Kyrgyzstan, which are placed on the local stock exchange. For this purpose, the country is ready to realize the issue of securities in yuan, but only with guarantees from China. “The Kyrgyz side raised questions about providing guarantees from Chinese financial institutions for the successful placement of securities, as well as the conclusion of an agreement on mutual settlements between the National Bank of the Kyrgyz Republic and the People's Bank of China,” the Ministry of Finance said. According to the National Statistical Committee of Kyrgyzstan, trade turnover between the two countries amounted to about $11 billion for the first six months of 2024, increasing by 40% over last year. At the end of 2023, the figure reached $20 billion.

China to Construct Solar Plant in Uzbekistan

The Chinese company China Datang is building a solar photovoltaic power plant in the Boka district of Tashkent region. Construction began on September 21. The 263-megawatt project is expected to cost $150 million to complete, and use 621 hectares of land. It was previously reported that China will invest 1 billion dollars in an enterprise processing the hides and organs of domestic animals in the Andijan region of Uzbekistan. In June this year, the UN General Assembly unanimously adopted the resolution “International Day of Dialogue among Civilizations,” developed by the China and Uzbekistan. The resolution's primary goal is to raise awareness about the value of civilizations' diversity and to develop communication, mutual respect, and global solidarity.