Kazakhstan's Majilis adopted the law on ratification of the agreement between the governments of Kazakhstan and China on the development of the Trans-Caspian International Transport Route.
The agreement stipulates efficient transportation of goods by road, rail, and sea, the creation of favorable conditions for the transit of goods and the development of logistics centers in Kazakhstan and China to attract additional goods traffic along the Trans-Caspian International Transport Route, Kazakh Transport Minister Marat Karabayev said.
Cargo carriage along the Trans-Caspian International Transport Route grew by 65% in 2023 compared to 2022 to reach 2.7 million tons.
For the past four months goods transportation hit 1.4 million tons that is 14% more against the same period of last year with 1.2 million tons.
The main cargo transported are equipment, plant products, soft goods, base metals, etc.
The project is purposed to bolster trade and economic cooperation between Kazakhstan and China and raise cargo carriage between the two countries. The draft law does not lead to any negative socioeconomic, legal and other impacts from the republican budget and financial outlays at large.
