• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
19 February 2025

Viewing results 1 - 6 of 16

Turkey, Uzbekistan, and Azerbaijan Plan New Trade Route Connecting Asia and Europe

Turkish President Recep Tayyip Erdoğan met with delegations from Uzbekistan and Azerbaijan on January 29 to discuss strengthening regional trade and connectivity. At the meeting, Uzbekistan's Foreign Minister Bakhtiyor Saidov delivered a letter from President Shavkat Mirziyoyev. “We conveyed the warmest greetings and a letter from His Excellency the President of Uzbekistan, Shavkat Mirziyoyev. The strong ties between our leaders form the foundation for close cooperation in all areas. Our peoples, connected by a shared history, traditions, and customs, are working together for a better future,” Saidov wrote on Telegram. Saidov was in Ankara for a trilateral forum with his Turkish and Azerbaijani counterparts. Ahead of the event, he held talks with Turkish Foreign Minister Hakan Fidan and Azerbaijani Foreign Minister Jeyhun Bayramov. During the forum, the three countries discussed expanding trade routes between Asia and Europe, as reported by the Anadolu Agency. Turkish Foreign Minister Hakan Fidan stated that the Middle Corridor — which runs through Central Asia, the Caspian Sea, the Caucasus, and Turkey — has proven to be the most reliable and cost-effective trade route between the two continents. Fidan stressed the importance of regional cooperation in the economic, transport, and energy sectors, particularly in light of recent global disruptions caused by the pandemic and conflicts. He also noted Turkey’s growing role as an energy hub amid ongoing challenges in global energy supply. Beyond trade, the ministers addressed regional security concerns, including the situation in Syria. Fidan described recent developments there as a “new window of opportunity” for reconstruction and stability. He called for joint efforts to support Syria’s rebuilding process, emphasizing that stability in the region would enhance trade, transport, and energy cooperation. During the forum, Turkey, Azerbaijan, and Uzbekistan outlined a joint declaration and road map for future cooperation, covering foreign policy and regional cooperation between the three countries; expanding trade, economic, and investment ties to boost regional commerce; and developing transport routes and enhancing regional connectivity. Transport ministers from all three nations will now work on improving logistics and transit routes to further facilitate trade.

Kazakhstan, Hungary, and China Establish Cargo Terminal in Budapest

Kazakhstan Temir Zholy (KTZ, Kazakhstan’s national railway company), L.A.C. Holding (Hungary), and Xi'an Free Trade Port Construction and Operation Co., Ltd (China) have signed a memorandum to establish a joint inter-modal cargo terminal in Budapest. The document was signed on November 20 as part of the state visit of Kazakhstan's President Kassym-Jomart Tokayev to Hungary. The planned terminal will leverage the strategic location of the Hungarian capital in the heart of Europe and its developed transport network for multimodal transportation across the continent. The terminal will have a capacity of 230,000 TEU annually and will increase the number of container trains between China and Europe, including transit along the Trans-Caspian International Transport Route (TITR). The new terminal is expected to reduce delivery times and transportation costs. KTZ continues to expand its terminal network along key transport corridors to strengthen Kazakhstan's position as a key transit hub in Eurasia. On November 12, Kazakhstan, Azerbaijan, and China signed an agreement to establish an inter-modal cargo terminal in the Port of Alat in Baku, Azerbaijan. Commenting on the signed Memorandum at a press briefing in Budapest, Tokayev said this initiative will strengthen trade and transport ties between the participating countries. “New opportunities are opening up for the development of infrastructure, logistics, and international trade. Eighty-five percent of land transit shipments between Asia and Europe pass through Kazakhstan. In the near future, the volume of cargo transportation along this route will reach 10 million tons,” Tokayev said.

Alstom to Supply 117 Locomotives to Kazakhstan

Kazakhstan’s national railway company, Kazakhstan Temir Zholy (KTZ), Electric Locomotive Assembly Plant, and France’s Alstom have agreed to supply 117 freight electric locomotives by 2028 and establish service centers for them. The document was signed at Paris's November 4 Kazakhstan-France Business Council meeting. These powerful electric locomotives, capable of hauling freight trains weighing up to 9,000 tons, will replace the outdated VL-80 locomotives of the 1980 model. The new locomotives' advantages include lower cost, more economical power consumption, high reliability, and lower maintenance costs. The French bank Société Générale will provide preferential financing for the purchase of the locomotives. Kazakhstan's railways play a strategic role in its economy. The country is a key transit hub for rail cargo transportation along the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor, which connects China and Europe. Today, more than 50% of freight in Kazakhstan is transported by rail. Kazakhstan Temir Zholy, the country’s national railway company, reported transporting more than 122 million tons of cargo from January to June 2024.

South Korea to Help Build Dry Ports in Uzbekistan’s Syrdarya and Jizzakh Regions

The Ministry of Transport of Uzbekistan announced on October 2 that it had signed a Framework Agreement with the Port Investment Department of the Ministry of Oceans and Fisheries of South Korea to jointly develop a feasibility study for the construction of dry ports and terminals in Uzbekistan’s Syrdarya and Jizzakh regions. According to the Uzbek ministry, the project will help improve the country's transport and logistics infrastructure. Creating inland terminals will be an important step towards increasing Uzbekistan's logistics independence and strengthening its role as the main logistics hub in Central Asia. The project is expected to significantly improve the country’s transport infrastructure and attract new investments to the Syrdarya and Jizzakh regions, supporting the goals of the "Development Strategy of New Uzbekistan for 2022-2026." The project is scheduled for completion in September 2025. As one of only two double-landlocked countries in the world (the other being Liechtenstein), Uzbekistan has to ship its exports over long distances through other landlocked countries — Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Afghanistan. In recent years, the government of Uzbekistan has made substantial progress in improving existing international transport corridors running through the country and in developing new corridors that will allow Uzbekistan to access the markets of the Eurasian Economic Union and European countries, Iran, Turkey, Afghanistan, Pakistan, India, and China.

Pakistan Joins Transport Corridor Between Indian Ocean and Eastern Europe

Uzbekistan’s Ministry of Transport has announced that Pakistan has officially joined the memorandum of understanding on establishing and developing the international transport corridor "Belarus–Russia–Kazakhstan–Uzbekistan–Afghanistan–Pakistan–Indian Ocean." The Pakistani Ministry of Communications signed this memorandum on September 18. The process of creating this multimodal transport corridor began in August 2022, at a meeting between the Uzbek government and the Eurasian Economic Commission – the governing body of the Russian-led Eurasian Economic Union that also includes Armenia, Belarus, Kazakhstan, and Kyrgyzstan. In November 2023, the transport ministries of Russia, Kazakhstan, and Uzbekistan signed a memorandum of understanding, launching the project's active phase of work. The group's first meeting on developing the proposed multimodal transport corridor was held in April 2024 in Termez, Uzbekistan. During that meeting, Belarus joined the memorandum, while Afghanistan and Pakistan announced the beginning of internal procedures for joining the project. At that meeting, a roadmap was signed, including specific plans for the development of cargo transportation, analysis of cargo flows, introduction of electronic digital documents, and optimization of customs procedures. The participating countries expect that the new corridor will become an important link in Eurasia's transport system, providing convenient and efficient routes for the transit of goods and strengthening economic cooperation.

Kazakhstan and China Collaborate on Container Hub for Aktau Port

At the Kazakhstan-China roundtable held in Astana on July 2, several agreements were signed by Kazakhstan’s national railways company Kazakhstan Temir Zholy (KTZ) and Chinese partners to expand Kazakhstan-China cooperation within the Belt and Road Initiative. Kazakhstan Temir Zholy and Lianyungang Port Group agreed on joint investment in the construction of a container hub at the port of Aktau on Kazakhstan’s Caspian coast. The project aims to improve both the effectiveness of the port’s existing infrastructure and the processing of container cargoes shipped through Kazakhstan. KTZ Express (a subsidiary of KTZ), Xi'an Free Trade Port (China), and Slavtrans-Service JSC (Russia) agreed to create a unified digital corridor on the China-Kazakhstan-Russia route to provide a seamless system for processing customs clearance, electronic trade, and other functions. Once in place, it will significantly accelerate logistics, promote the development of electronic trade, simplify customs procedures, reduce trade barriers, increase the transparency and efficiency of supply chains. An agreement was also signed with China’s CRRC for the supply of 200 locomotives to Kazakhstan. Built with improved structural and traction parameters, the locomotives will be adapted to withstand Kazakhstan’s  climate and to emit low levels of harmful substances into the atmosphere.