KAZAKHSTAN, TURKEY SIGN MEMORANDUM TO DEVELOP RAILWAY TRANSPORT
The Kazakh-Turkish business forum taking place in Istanbul (Turkey) has seen the signing of a memorandum of cooperation between Kazakhstan Temir Zholy Express (a subsidiary of Kazakhstan Temir Zholy) and Pasifik Eurasia Lojistik Dis Ticaret A.S, aimed to develop transportation through the South Corridor via Kazakhstan, the Kazakh railway company’s press service informs.
The forum has taken place as part of the visit of the Kazakh Prime Minister, Askar Mamin, to Turkey to participate in the 10th meeting of the Kazakh-Turkish Intergovernmental Commission on Trade and Economic Cooperation.
It focuses on creating a platform to strengthen business ties between Kazakhstan and Turkey, discuss prospects for cooperation in the field of logistics, trade and investment.
The document signed between Kazakhstan Temir Zholy Express and Pasifik Eurasia Lojistik Dis Ticaret A.S provides for the competitiveness of the South Corridor by reducing transaction costs and improving the quality of the container service provided through mutual use of assets.
The cooperation between Kazakhstan and Turkey in the transport and logistics industry is developing rapidly. So the container traffic volume has reached 5.4 thousand TEUs within 9 months of 2019, increasing by 2.2 thousand TEUs or 69%, compared to the same period in 2018. At the same time, work is underway to introduce new logistics services.
In particular, in October 2019, Kazakhstan Temir Zholy in partnership with the railway administrations of China, Azerbaijan, Georgia and Turkey launched the alternative container service en route Xi’an-Istanbul-Prague, through the Trans-Caspian transport corridor and under the Bosphorus Strait through the Marmaray Tunnel.
Source: Kazakhtan 2050