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    Kazakhstan

    Middle Corridor sees 86% cargo surge, boosting Kazakhstan's trade impact

    Middle Corridor sees 86% cargo surge, boosting Kazakhstan's trade impact

    The Trans-Caspian International Transport Route (TITR), often referred to as the Middle Corridor, has seen a remarkable surge in cargo transportation volume, with an 86% year-on-year increase recorded over the first seven months of this year. The data was released by the Samruk Kazyna Sovereign Wealth Fund via its Telegram channel on September 7, highlighting the region's growing significance in global trade.

    Middle Corridor sees 86% cargo surge, boosting Kazakhstan's trade impact
    Photo: Middle Corridor sees 86% cargo surge, boosting Kazakhstan's trade impact 
    Source: Samruk Kazyna/Telegram

    During this period, the TITR facilitated the transportation of a staggering 1.6 mn tons of cargo, reflecting a substantial boost in its operational capacity. Furthermore, the share of exports originating from Kazakhstan itself has surged by 2.5 times, reaching 1.2 mn tons. This substantial growth underscores the route's pivotal role in Kazakhstan's trade ambitions.

    The Middle Corridor is a key trade pathway that connects China and Central Asia to Europe. It accomplishes this by traversing the Caspian Sea and passing through the countries of the South Caucasus and Turkey. In recent years, it has gained increasing attention on the global stage and has become a critical artery for trade and commerce.

    The geopolitical situation in the region has further amplified the importance of the Middle Corridor, leading to heightened interest from various states and international stakeholders. As a result, it has evolved into a focal point for growth and cooperation in the region.

    President Kassym-Jomart Tokayev, in his recent state-of-the-nation address, underscored the strategic significance of the TITR as a primary link that enables the realization of Kazakhstan's transit and export potential. His emphasis on the Middle Corridor reaffirms its status as a vital component of Kazakhstan's economic growth and global trade integration strategy.

    The surge in cargo transportation volume through the Middle Corridor reflects its increasing relevance as a key artery for trade between Europe and Asia. It also highlights Kazakhstan's growing role in facilitating international commerce, positioning the nation as a crucial player in the evolving landscape of global logistics and transportation.

    With its strategic location and ongoing investments in infrastructure development, the Trans-Caspian International Transport Route is poised to play an even more substantial role in shaping the future of international trade in the Eurasian region. As global trade dynamics continue to evolve, the Middle Corridor's prominence is expected to grow further, offering new opportunities for economic development and cooperation among nations along its route.

     

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    08.09.2023, 18:05   Comments (0)   1130
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