Kazakhstan, Azerbaijan, and Georgia have signed an agreement to create a single logistics company that will boost trade along the Trans-Caspian international transport route, Turanews.kz reports.
The new company will be responsible for the transportation of goods between China and Europe, and it will focus on simplifying and accelerating all processes. As a result, the delivery time for goods along the route is expected to be reduced from 53 to 23 days.
The agreement also calls for the maximum digitization of the transport corridor. This will involve the use of new technologies to track the movement of goods, manage inventory, and facilitate payments. The goal is to make the Trans-Caspian transport route a more efficient and competitive option for shippers.
The creation of the single logistics company is a major step forward for the development of the Trans-Caspian transport route. The company is expected to attract large international investors, which will help to further improve the infrastructure of the route. The company is also expected to create jobs and boost economic growth in the region.
The agreement was signed by the transport ministers of Kazakhstan, Azerbaijan, and Georgia in Baku, Azerbaijan on June 27, 2023. The company is expected to begin operations in 2024.
