BAKU, Azerbaijan, September 16. Kazakhstan
President Kassym-Jomart Tokayev has proposed that South Korean
companies participate in the development of infrastructure projects
along the Trans-Caspian International Transport Route (TITR) or
Middle Corridor.
According to the press service of the Kazakh president, Tokayev
made the proposal during the Central Asia - Republic of Korea
Business Summit.
He said the expansion of transport connectivity is becoming
increasingly relevant, noting that Central Asia's geographic
location creates significant opportunities to strengthen transport
and logistics links across Eurasia.
"The Trans-Caspian International Transport Route plays an
important role in this regard, a significant part of which runs
through Kazakhstan. Currently, this route accounts for around 85%
of all overland transportation between Asia and Europe," Tokayev
said.
According to the President, container transportation along the
Middle Corridor increased by 36% last year, while an 18% increase
was recorded in the first eight months of this year.
"We plan to increase the route's capacity from 6 million to 10
million tons over the next two years. We propose that Korean
companies take an active part in the development of infrastructure
projects along this route. To this end, the Government of
Kazakhstan will form a portfolio of investment projects for Korean
partners," Tokayev said.
Tokayev also emphasized the importance of developing cooperation
in critical materials. According to him, Kazakhstan has significant
deposits of critical minerals and rare earth metals.
"We produce copper, chromium, titanium and many other elements
that have been identified by the Korean Government as priority
strategic resources. Given Korea's advanced technological
experience, we propose forming a pool of targeted full-cycle
investment projects covering geological exploration, extraction,
deep processing and production of critical materials," the
President said.
