• KGS/USD = 0.01179 0.85%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09364 -0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01179 0.85%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09364 -0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01179 0.85%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09364 -0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01179 0.85%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09364 -0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01179 0.85%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09364 -0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01179 0.85%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09364 -0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01179 0.85%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09364 -0.32%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01179 0.85%
  • KZT/USD = 0.00209 0%
  • TJS/USD = 0.09364 -0.32%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 11

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.  

New Report Analyses Eurasian Transport Network

On 27 June, the Eurasian Development Bank (EDB) released a report titled “The Eurasian Transport Network”. The report introduces a new conceptual approach to future developments within the Eurasian Transport Network and outlines key projects and initiatives aimed at improving transport connectivity in Eurasia. The Eurasian Transport Network is a system of interconnected latitudinal and longitudinal international transport corridors and routes, facilitating intra- and trans-continental connectivity for Eurasian countries. It builds upon over 50,000 km of international east-west and north-south transport corridors, linking Asia, Europe, and the Middle East. The Eurasian Transport Network consists of five key international transport corridors: the Northern, Central and Southern Eurasian Corridors, TRACECA, and the International North-South Transport Corridor (INSTC), along with branch lines and regional routes. According to EDB analysts, in 2023, international freight traffic along these five corridors of the Eurasian Transport Network totaled 260 million tons, including 3.6 million 20-foot containers (TEU). Compared to 2013, the volume of international container traffic has more than tripled. The most dynamic growth has been driven by foreign trade and transit container transit with China. Since 2013, the number of container trains to and from China via the Eurasian Economic Union countries and Central Asia has increased by a factor of 200. The EDB introduced the concept of a Eurasian Transport Network in 2021, and this report presents its detailed framework. Three years ago, the EDB released a report titled “The International North–South Transport Corridor: Promoting Eurasia’s Intra- and Transcontinental Connectivity”, which estimated that connecting international transport corridors would yield a 40% increase in freight traffic. In 2024, this projection was fully confirmed by the dynamic development of the INSTC and its linkage to TRACECA. The advancement of the Eurasian Transport Network is paving the way for the establishment of a transport hub in Central Asia. The development of multimodal transport and transit corridors is the only viable solution for Central Asian countries due to the significant distances between trade partners. Establishing a transport hub will facilitate an increase in international traffic, including transit. The EDB projects that freight traffic along the three main corridors running through Central Asia will increase by 1.5 times to 95 million tons by 2030. Container traffic is expected to grow even more rapidly, by almost two-thirds, reaching 1.7 million TEU. Evgeny Vinokurov, EDB Chief Economist, underlines that “at present, transportation costs for landlocked countries are 1.4 times higher than for coastal states. Even during the time of the Silk Road, trade routes in Central Asia were predominantly latitudinal, in the east-west direction. Building new north-south transportation links is a historic opportunity for Central Asia. This is an opportunity to become the continent’s transport hub, unlock new production niches and improve conditions for foreign trade, especially with West and South Asia.” The EDB concludes that given the limited investment opportunities facing most developing countries in Eurasia, a key area of cooperation to develop transport links in Eurasia is boosting the number of projects attractive to international development banks and private investors. This includes projects implemented...

Indian Companies Interested in Turkmenistan’s Seaport

Issues concerning the establishment of cooperation in the field of maritime transportation, as well as the possibility of cargo transit through Turkmenbashi International Sea Port, were recently discussed by representatives of the Agency Turkmendenizdaryaollary with the Ambassador of the Republic of India in Turkmenistan, according the Agency's website reports During the meeting, the excellent potential for cargo transit offered by the Turkmenbashi port, which occupies a crucial location in the North-South transport corridor, was noted and encouraged a proposal by  representatives of “Turkmendenizdaryaollarya” to assist the Indian side in establishing an exchange of expertise in port management. In its summary of the meeting, the report stated,  "The Indian Ambassador said that more than 30 Indian companies are interested in visiting Turkmenistan and familiarizing themselves with the opportunities of Turkmenbashi port. Following the meeting, the parties agreed to make every effort to develop cooperation in maritime transportation.”

Central Asia – EU Political and Security Cooperation

On June 5, Brussels hosted the 11th round of the annual High-Level Political and Security Dialogue between the European Union and Central Asia. Chaired by Enrique Mora, Deputy Secretary-General for Political Affairs of the European External Action Service, the meeting was attended by Deputy Ministers of Foreign Affairs of Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan. As reported by Kazakhstan’s Foreign Ministry, the agenda comprised the implementation of the Joint Roadmap for Deepening Ties between Central Asia and the EU, the dynamics of transport, trade, economic, energy and climate relations, and common security challenges regarding Afghanistan. Roman Vassilenko, Deputy Minister of Foreign Affairs of Kazakhstan, presented several initiatives relating to energy, trade and water resources management aimed at enhancing interregional cooperation with the EU. Outlining the priorities of Kazakhstan’s chairmanship of the International Fund for Saving the Aral Sea (IFAS), he highlighted a program for continuous monitoring of the basin ecosystem. To be implemented over the next three years, the initiative will provide a mechanism for long-term intraregional cooperation on the Aral issue. Vassilenko also reiterated the need for Central Asian countries to synchronize efforts in the fields of effective irrigation, the operation of water and energy facilities, and the implementation of environmental measures. The European External Action Service reported that in turn, the EU had reaffirmed its willingness to support efforts to intensify its cooperation on security with Central Asia, especially in areas concerning management of water-related challenges, energy and climate change, and connectivity. The High-Level Political and Security Dialogue was the latest conference to be held within the context of increased engagement between Central Asia and the European Union. Central Asia’s Heads of State and the President of the European Council had previously met on 27 October 2022 and 2 June 2023.  At a further EU-Central Asia Ministerial meeting on 23 October 2023 in Luxembourg, the 27 EU Foreign Ministers adopted a Joint Roadmap for Deepening Ties between the EU and Central Asia with concrete actions for strengthening cooperation, most notably regarding security. The EU and Central Asian countries are now planning the first-ever EU-Central Asia Summit for later this year.    

AIIB Forwards Construction of Strategic Bridge in Tajikistan

The Asian Infrastructure Investment Bank (AIIB) has approved a loan equivalent to US $75.5 million to Tajikistan for the construction of a 920-meter-long bridge and approach routes on the Obigarm-Nurobod section of M41 International Highway. The bridge is the first of such magnitude in Tajikistan and a critical component of the county’s road network. Linking Corridors 2, 3 and 5 of the Central Asia Regional Economic Cooperation Program, it will provide essential connections between Tajikistan’s landlocked terrain and neighbouring regional markets. Designed to withstand all weathers, the bridge will connect over 350,000 residents of the northeast region of Tajikistan to the capital Dushanbe, as well as the border of Kyrgyzstan. To align with Tajikistan’s National Development Strategy, the government has prioritized its timely completion and construction of the 75-kilometer Obigarm-Nurobod section has been divided into three phases to ensure synchronized implementation. Illustrative of a collaborative approach to advancing sustainable development and enhancing connectivity in Tajikistan, AIIB has fostered close coordination with other financiers, including the Asian Development Bank, OPEC Fund for International Development and European Bank for Reconstruction and Development. Lauding the initiative, Konstantin Limitovskiy, AIIB’s Vice President for Investment Operations in Region 2, commented: “The project aligns with two core thematic priorities of AIIB. First, it contributes to cross-border connectivity by establishing vital cross-border links with improved road safety along Tajikistan's essential corridor and ensuring connectivity between regions. Secondly, it embraces green-finance principles by integrating environmentally and socially responsible practices and promoting resilient sustainable mechanisms in the road infrastructure development.”    

Kazakhstan and Singapore Join Forces to Boost Economy and Transport

On 23 May, Kazakhstan President Kassym-Jomart Tokayev’s made his first state visit to Singapore to engage in meetings with Singaporean President Tharman Shanmugaratnam focusing on connectivity, critical raw materials, and economic cooperation. Over 140 Singaporean companies and joint ventures currently operate in Kazakhstan. The country has invested over $1.7 billion in the Kazakh economy and bilateral trade is forecast to exceed $2 billion. Tokayev hailed Singapore as a time-tested and reliable partner of Kazakhstan and in talks with Singapore Prime Minister Lawrence Wong, expressed confidence that his visit would strengthen bilateral relations. Citing the complementary nature of their countries’ economies, Lawrence Wong stated that Singapore can provide a gateway to further Kazakhstan’s interaction with ASEAN countries and in turn, Kazakhstan can facilitate Singapore's rapprochement with Central Asian countries. Regarding economic and investment cooperation, the parties reaffirmed their mutual commitment to expanding joint ventures in green energy, transport and logistics, digitalization, finance, agribusiness, connectivity, e-commerce, and mining and processing of critical minerals. President Tokayev and Prime Minister Wong welcomed the implementation of Alatau City (G4 City); a thousand-kilometer Special Economic Zone to be developed by Kazakhstan with support from Singaporean company Surbana Jurong in the region of Almaty. Tokayev expressed his gratitude to the Singaporean company for developing the comprehensive master plan for the project which he described as a catalyst for boosting both his country’s economy and that of Central Asia. Tokayev and Wong also commended the partnership between Singapore’s PSA International and Kazakhstan’s national railways company Kazakhstan Temir Zholy (KTZ) aimed at increasing the potential of the Trans-Caspian International Transport Route (TITR). A Memorandum was signed by KTZ and PSA to further develop Kazakhstan’s transport and transit potential and an agreement made to increase the volume of cargo transit through Kazakhstan by means of a synergy of their assets in China. Today, KTZ operates railway terminals in China in the dry port of Xi'an and the seaport of Lianyungang. Assets held by PSA include marine terminals in six ports and railway terminals in 13 cities in China. Speaking at the Kazakhstan-Singapore Business Forum later in the day, Tokayev emphasized that because it offers “the shortest and most sustainable route from Central and East Asia to Europe,” TITR has the potential to radically enhance Eurasian cooperation. The Kazakh president outlined promising areas of cooperation between the two countries, and announcing Kazakhstan's readiness to supply critical raw materials and natural resources to Singapore, stated: “Considering that global demand for rare metals will quadruple by 2040, Kazakhstan, which has approximately 5,000 unexplored deposits, can become a reliable partner for the joint development of this potential. We have high hopes for long-term cooperation with the Indorama company, which is interested in exploring copper and phosphate deposits in Kazakhstan.” Tokayev also called on Singaporean companies to expand partnerships in the production of clean energy and the transfer of technology and expertise.