The second meeting of the Kazakh-Azerbaijani Business Council in Baku witnessed Vice Minister of Transport Satzhan Ablaliyev's announcement of a surge in cargo transportation volume along the Trans-Caspian international transport route (TITR), the Ministry of Transport reported. The event focused on novel approaches to bolstering trade relations between Kazakhstan and Azerbaijan.
In his address, Vice Minister Ablaliyev highlighted the recent upswing in cargo transportation between the two nations and emphasized the fruitful collaboration in advancing the TITR. He revealed that the cargo volume for 2023 soared by 65%, with further plans to escalate transportation volume by an additional 43% in 2024, targeting a staggering 4.2 mn tons. January 2024 alone witnessed a dramatic 2.5-fold increase compared to the previous year, with the transit of Chinese containers surging nearly threefold.
Acknowledging Azerbaijan's pivotal role, Ablaliyev expressed gratitude for their unwavering support, enabling seamless operations along the route. He also outlined prospective strategies for the development of the Middle Corridor, emphasizing the integration of the "Digital Silk Road." A monumental initiative entails laying a fiber-optic communication line across the Caspian Sea's bed, fostering a digital telecommunications corridor linking Europe and Asia.
Concluding his remarks, the Vice Minister exuded confidence in the collaborative efforts within the Kazakh-Azerbaijani Business Council, foreseeing the discovery of new synergies and an expansion of cooperation between the business communities of both nations.
The meeting witnessed contributions from notable dignitaries including ambassadors extraordinary and plenipotentiary of Kazakhstan and Azerbaijan, Agalar Atamoglanov and Alim Bayel respectively, Vice Minister of Energy Samir Valiyev, and other esteemed representatives. Murat Karimsakov, head of the secretariat of the presidium of the NCE RK "Atameken" - chairman of the board of the Foreign Trade Chamber of Kazakhstan, Orkhan Mammadov, chairman of the board of the Small and Medium Business Development Agency, and Timur Turlov, Chief Executive Officer of Freedom Holding Corp., also addressed the gathering.
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