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Astana, Kazakhstan • 08 April, 2024 | 11:38

Kazakhstan, Uzbekistan to Share Freight Terminals for Southbound Traffic

The national railway administrations plan to establish a joint venture

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Akorda
Akorda

The railway administrations of Kazakhstan and Uzbekistan plan to establish a joint venture for the shared use of freight terminals along China–Kazakhstan–Uzbekistan route, QazMonitor reports citing Akorda.

What happened: On April 5, during an informal meeting in Khiva between the presidents of Kazakhstan and Uzbekistan, Kassym-Jomart Tokayev and Shavkat Mirziyoyev supported the initiative aimed at bolstering trade and creating favorable conditions for southbound freight traffic. The venture will operate at the Kazakh-Chinese border and in Uzbekistan along China–Kazakhstan–Uzbekistan route. Additionally, the project will also facilitate the development of the Trans-Afghan route.

Big picture: In 2023, the trade turnover between the two countries amounted to $4.5 billion. About 60 joint projects are underway, creating over 13,300 jobs in the energy, transportation, logistics, and agriculture sectors. The total investment cost for these projects totaled $2.6 billion. Additional 43 projects hold promise for further collaboration.

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