Europe expects big growth of Central Asian economies and cargo traffic through the Caspian Sea
24.06.2023 | 02:54 |German logistics company Rhenus Logistics, operating in Europe, Asia, North and South America, and Kazakhstan Railways (KTZ) aim to develop transshipment capacity in the Caspian ports of Aktau and Kuryk, logistics centers in the wider Caspian region, and a container hub in Aktau. They want to attract more transit cargo through the Middle Corridor - the Trans-Caspian International Transport Route.
The parties signed a Memorandum of Understanding during the recent visit of the German President to Kazakhstan.
“We expect strong growth in the economies of the countries of Central Asia and the Caucasus and an increase in container cargo flows. The ports of Aktau and Kuryk are important nodes of the Middle Corridor for connecting traffic between Asia and Europe,” Heinrich Kerstgens, Project Manager and Representative of the Board of the Rhenus Group commented. He added that Rhenus' goal is to use the partnership with KTZ to expand links between the Middle Corridor and networks in Europe.
Tobias Bartz, CEO of Rhenus Group, stressed that the Middle Corridor is more than just a transit route as it provides access to the Central Asian market with over 90 million consumers. The fact that the real potential of the Middle Corridor lies in the markets surrounding it, and not just in the traffic coming from China, is emphasized by many players in the Middle Corridor.
According to experts, the real opportunities of the Middle Corridor are connected with the development of Central Asian markets, since services for the delivery of goods to and from this region have long had “sustainable potential beyond the current geopolitical reality,” specialized Rail Freight writes.
Multimodal services connecting the region with Western countries will have long- term market appeal, analysts say. However, they believe, one should not expect a rapid increase in capacity, since it is still relatively new. However, the interim results of this year show a significant increase compared to previous years.
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