22 Jun 2022 09:53

Kazakhstan ready to connect local transit routes to European network - agency head

ALMATY. June 22 (Interfax) - Kazakhstan is ready to connect local transit routes to the TEN-T (Trans-European Transport Network) to integrate land trade between the East and the West, Chairman of the Kazakh Agency for Strategic Planning and Reforms Aset Irgaliyev said.

According to the agency press service, Irgaliyev took part in the Global Gateway in Central Asia session of the European Development Days in Brussels.

Irgaliyev invited the European Commission to begin a discussion of potential transit hubs in Kazakhstan, which could be part of "connectivity" in this region. In his words, Kazakhstan will invest up to $20 billion by 2025 in new land corridors to open nationwide.

"Kazakhstan has the most developed and attractive multi-vector transport system in Central Asia. We are ready to connect our transit routes with the TEN-T to integrate land trade between the East and the West," the press service quoted Irgaliyev as saying.

The Trans-Caspian International Transport Route (TITM), known as the Middle Corridor, is no less relevant, the press service said. A quadripartite statement of Kazakhstan, Georgia, Azerbaijan, and Turkey on the development of the Middle Corridor will unlock their transit potential.

Cargo transit through the Middle Corridor will be increased with a container hub to open in the Aktau port with the participation of the world's leading operators (Cosco, Maersk, CMA CGM, etc.). In addition, a digital infrastructure of the transport corridor is being created on the basis of standard IT solutions for supply chain management.

"We believe that the Trans-Caspian corridor could complement the Trans-Siberian route and the Baltic ports, where the key commodity flows of Kazakhstan have been formed. We are looking forward to expanding trade, business, and logistical relations between Asia and Europe," Irgaliyev said.

He noted that more than 4,500 enterprises with European capital are working in Kazakhstan.

"It is important for Kazakhstan to further strengthen ties with the European Union, including in light of new geopolitical realities. According to data for 2021, the EU accounts for almost 30% of Kazakhstan's foreign trade and more than $160 billion of accumulated direct investment since 1993," Irgaliyev said.