Russia And Kazakhstan Commit To Advancing International North-South Transport Corridor
Date
7/26/2024 7:19:53 PM
(MENAFN- AzerNews)
Nazrin Abdul
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Russia and Kazakhstan are both committed to advancing the
International North-South transport Corridor, according to Alexei
Overchuk, Deputy Prime Minister of Russia,
Azernews reports.
Overchuk made this statement during a meeting of the
Intergovernmental Commission for Cooperation between the two
countries in Astana.
"We are jointly focused on developing the International
North-South Transport Corridor. Equally important is the
enhancement of transport routes towards China, given the increasing
access to Chinese agricultural markets. We must support these
opportunities with a conducive business environment and modern
infrastructure," he stated.
Overchuk also highlighted ongoing efforts to improve checkpoints
and infrastructure connectivity between Russia and Kazakhstan.
The North-South International Transport Corridor is a 7,200 km
multimodal route linking St. Petersburg with the ports of Iran and
India. It serves as an alternative to the traditional sea route
through the Suez Canal, connecting Europe, the Persian Gulf, and
the Indian Ocean.
The corridor features both western and eastern branches through
Iran. The western branch includes road transport via Rasht, while
the eastern branch utilizes rail. The corridor ends at the port of
Bandar Abbas in Iran, from where cargo can be shipped to India. The
western branch also traverses Azerbaijan, while the eastern branch
goes through Kazakhstan and Turkmenistan.
In trade relations, Kazakhstan and Russia saw a turnover of $9.7
billion from January to May 2024, a 12.5 percent decrease from
$11.1 billion during the same period in 2023. Kazakhstan's exports
to Russia in the first five months of 2024 totaled $3.36 billion,
marking a 21.5 percent decline from $4.3 billion year-on-year.
Conversely, imports from Russia fell by 6.7 percent to $6.3
billion, down from $6.8 billion in the same period of 2023.
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