Kazakhstan and Kyrgyzstan to build industrial trade and logistics complex

The deputies of the Kazakh Senate ratified an agreement between Kazakhstan and Kyrgyzstan on building an industrial trade and logistics complex in the territory of the Karasu and Ak Tilek road-transport checkpoints, Kazinform News Agency reports.

According to Senator Lyazzat Rysbekova, an intergovernmental agreement on the establishment and regulation of the activities of the industrial trade and logistics complex on the Kazakhstan-Kyrgyzstan border was signed in Astana on June 9, 2023.

The key goals of the complex are to ensure cooperation in warehousing, storage, consolidation, processing, production of new goods and further realization with effective integration into the international commodity-producing systems, and to provide short-term warehousing, logistics, lease services, and legal and financial consultations.

The total area of the complex will be 7,600 square meters with 3,600 square meters located in the territory of Kazakhstan and the rest 4,000 square meters in Kyrgyzstan.

She added Kazakhstan is expected to invest some 30 billion tenge in its construction and repair works, transport infrastructure, water supply system, communications, etc.

The development of the agreement is expected to scale back the number of participants in the chain of commodity circulation, cut costs of goods for end users and speed up delivery services.

She noted an investor has not been yet determined.

Notably, the second meeting of the Transport Ministers of Central Asian countries took place in Astana. Following the meeting, the ministers signed a memorandum of understanding on the development of transport and logistics centers in Central Asian countries.