(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 12. An agreement was
signed today by Taleh Ziyadov, General Director of Baku
International Sea Trade port CJSC; Nurlan Sauranbayev, Chairman of
the Board of Kazakhstan Railways JSC; and Yuan Xiaojun, General
Director of Xi'an Free Trade Port construction and Operation Co
Ltd, on the establishment of a new enterprise dedicated to the
construction of an intermodal cargo terminal at the port, Trend
reports .
The signing ceremony saw the attendance of Ruslan Alikhanov,
Chief Executive Officer of Azerbaijan Investment Holding, and
Nurlan Zhakupov, Chairman of the Board of Kazakhstan's
Samruk-Kazyna JSC.
The event took place as part of the 29th session of the
Conference of the Parties to the UN Framework Convention on Climate
Change (COP29) in Baku, Azerbaijan.
The primary aim of this agreement is to establish a
state-of-the-art intermodal cargo terminal in the Baku port,
situated in the village of Alat, to enhance and expand cargo
transportation capabilities. The project plans for the development
of a 40-hectare intermodal cargo terminal, which is expected to
significantly bolster the region's logistics infrastructure.
Given the extensive facilities available at Baku Port, coupled
with the strategic role of Kazakhstan Railways in servicing the
Middle Corridor, as well as the efficient organization of container
trains from Xi'an Free Trade Port along the China-Europe route,
this agreement holds substantial significance for all three nations
involved.
Moreover, the agreement is expected to yield numerous benefits,
including a consistent rise in the volume of container trains
traversing the Middle Corridor, reduced unloading times, decreased
transportation costs, minimized transshipment durations, and a
reliable increase in overall cargo volumes.
The 29th session of the Conference of the Parties to the UN
Framework Convention on Climate Change (COP29), which will run
until November 22, opened today at the Baku Olympic Stadium. The
event is the largest organized by Azerbaijan to date and is the
first time the region has hosted the event in Azerbaijan. Within
COP29, the highest level event - the summit of world leaders on
climate action - will be held on November 12–13.
The main expectation from COP29 is to agree on a fair and
ambitious New Collective Quantitative Goal (NCQG) on climate
finance.
The COP29 chairmanship has launched 14 initiatives that include
linkages between climate action and the Sustainable Development
Goals, including green energy corridors, green energy storage,
harmony for climate resilience, clean hydrogen, methane reduction
in organic waste, action on green digital technologies, and other
topics.
In addition to being a top priority that creates the conditions
for action, creating climate finance will also help fulfill the
1.5°C pledge by bringing everyone together.
The UN Framework Convention on Climate Change is an agreement
signed at the Rio Earth Summit in June 1992 to prevent dangerous
human interference in the climate system. The acronym COP
(Conference of Parties) stands for“Conference of Parties” and is
the highest legislative body overseeing the implementation of the
Framework Convention on Climate Change.
A total of 198 countries are parties to the Convention. Unless
otherwise decided by the parties, COP is held annually. The first
COP event was held in March 1995 in Berlin, and its secretariat is
located in Bonn.
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