Azerbaijan, Kazakhstan ink logistics cooperation accord
Azerbaijan and Kazakhstan have signed an agreement on cooperation in the implementation of joint projects in the logistics field.
The document was signed by Azerbaijan Railways CJSC chairman Javid Gurbanov and Kazakhstan Railways JSC board chairman Nurlan Sauranbayev.
During the meeting, the parties also discussed the further development of multimodal transportation along the Trans-Caspian international transport route. They stressed the need to increase capacity on this route and reduce transit time.
It should be noted that the volume of transportation along the Trans-Caspian International Transport Route for 2021 amounted to 586,200 tons, container transportation – 25,270 TEU. In January-March 2022, 266,300 tons of cargo were transported along this route, which is 123 percent more than the same period last year. Container traffic amounted to 5847 TEU. This is 19 percent more than in January-March last year.
The Trans-Caspian international transport corridor was established in February 2014 with the participation of relevant Azerbaijani, Kazakh, and Georgian cargo transportation agencies. It is an important integrated trade corridor in China's Belt and Road Initiative. This 6,500-km corridor promotes Central Asia's and the Caucasus' development and growth by increasing regional trade, investment, and infrastructure.
The trade turnover between Azerbaijan and Kazakhstan amounted to $135.7 million in 2021.
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