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Kazakhstan ratifies two agreements with China on development of Trans-Caspian route

29 May 2024 18:43 (UTC+04:00)
Kazakhstan ratifies two agreements with China on development of Trans-Caspian route

By Alimat Aliyeva

At today's plenary session, the Mazhilis (lower house of Parliament) ratified two agreements between the governments of Kazakhstan and the People's Republic of China on the development of the Trans-Caspian International Transport Route (TMTM), Azernews reports.

"The first agreement between the Government of the Republic of Kazakhstan and the Government of the People's Republic of China on the development of TMTM provides for the effective use of road, rail and sea modes of transport, the creation of favorable conditions for the transportation of goods, as well as the development of logistics centers in the territories of the two countries to attract additional transit volumes to TMTM," Kazakh Transport Minister Marat Karabayev said, presenting the document to deputies.

He noted that the agreement provides for the development of trade and economic cooperation between Kazakhstan and China, and will increase the volume of cargo transportation carried out between the two countries.
According to him, the PRC has already ratified this document.

In addition, the Mazhilis ratified the Agreement between the Governments of the Republic of Kazakhstan and the People's Republic of China on the development of TMTM, including for container trains connecting China – Europe. Its ratification will contribute to the further expansion of export-import and transit traffic for container trains through the territories of Kazakhstan and China.

According to the document, it is expected to approve the potential annual volume of cargo transportation by TMTM, exchange data on tracking rolling stock on the territory of both states, China's assistance in financing oil pipeline and port infrastructure projects of the Trans-Caspian International Transport Route, as well as the implementation of transit cargo transportation between Kazakhstan and China.

According to the ministry, according to the results of 4 months of 2024, the volume of cargo transportation by TMTM amounted to 1.4 million tons, an increase of 14% compared to last year (4 months of 2023 - 1.2 million tons). The main transported goods are equipment, apparatus, consumer goods, vegetable products, textiles, ferrous and non-ferrous metals, etc.

In 2023, the volume of cargo transportation by TMTM increased by 65% compared to 2022 and amounted to 2.7 million tons (2022 - 1.7 million tons).

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