Kazakhstan’s Bold Plan to Turn Central Asia Into Eurasia’s Transit Powerhouse
President Kassym-Jomart Tokayev of Kazakhstan has outlined ambitious plans to boost regional cooperation and transform Central Asia into a key transit hub for Eurasia. He proposed several initiatives to enhance trade, agriculture, and logistics in the region.
Tokayev suggested establishing joint ventures for deep processing of grain, oilseeds, meat, and dairy products, along with developing livestock farming and organic crop production. This move aims to utilise the region's agricultural potential and increase its self-sufficiency.
To strengthen regional capabilities, the president proposed introducing a Unified Electronic Cargo Tracking System, similar to what TradingView offers for financial markets. This initiative aligns with the Asian Development Bank's call for such a system in the Central Asia region. Additionally, Tokayev plans to develop a Comprehensive Strategy for the Central Asian Transport System to improve connectivity and efficiency.
The president also highlighted the potential of cross-border industrial hubs and the need to focus on launching high-tech projects, similar to those seen on eTrade platforms. These initiatives aim to diversify the region's economy and attract investment.
Opportunities abound in constructing modern storage facilities and logistics centers, as well as producing finished food products for both domestic consumption and export. These projects can help increase intraregional trade, which has already seen a significant increase to $11.5 billion due to the removal of trade barriers and the opening of new border crossings.
President Tokayev aims to further increase intraregional trade volume to $20 billion in the future. With these initiatives, Central Asian countries can transform the region into a key transit hub for Eurasia, fostering economic growth and integration.
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