ASTANA, Kazakhstan, June 9. Kazakhstan and Bulgaria have signed a Memorandum of Understanding on the development of the Trans-Caspian International Transport Route (Middle Corridor), Trend reports.
"The Memorandum of Understanding between the Ministry of Transport of the Republic of Kazakhstan and the Ministry of Transport and Communications of the Republic of Bulgaria on the development of the Trans-Caspian International Transport Route," the statement reads.
Previously, discussions transpired between the two heads of state in both a restricted and an expanded framework, wherein the escalation of trade volume was acknowledged for the previous fiscal year as well as the onset of the current fiscal period.
The Trans-Caspian International Transport Route (TITR), or Middle Corridor, is a transport corridor that connects the countries of Asia and Europe through the Caspian Sea. It plays an important role in the development of trade relations between China, Central Asian countries, the Caucasus, and Europe, reducing the time and cost of cargo transportation compared to traditional routes.
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