BAKU, Azerbaijan, November 15. Single international investors should be attracted to the development of the entire Trans-Caspian International Transport Route (TITR), Deputy Chairman of the Board of KAZAKH INVEST National Company JSC Zhandos Temirgali told Trend on November 15.
Speaking about potential areas for strengthening cooperation between Kazakhstan and Azerbaijan, Temirgali, first of all, noted the development of transport and logistics infrastructure for further increasing cargo transportation within the TITR.
"It would be reasonable to attract international investors to ensure conditions for the balanced functioning of ports, which will undoubtedly speed up and facilitate the cargo transportation process,” he said. “In this regard, there is a high practical sense of preparing a comprehensive investment proposal for international investors to accelerate the development of the ports of the two countries.”
Besides, he said that during the summit of the Organization of Turkic States at the end of last year, the heads of the participating countries decided to create a Turkic Investment Fund.
"This year, the members of the organization have been working on the details of the agreement, and a union is planned to be established in 2023. As part of the fund’s work, we have the opportunity to finance strategically important infrastructure facilities, as well as promote the development of cooperation between the states," Temirgali added.
Moreover, according to him, bilateral cooperation has prospects for development within the framework of the ‘Turan’ free economic zone (FEZ) with a special status, being established in Turkestan city, one of the most important spiritual centers of the Turkic world.
"The region is an important transport hub which has the potential to become a major trade and logistics center. Kazakhstan’s Turkestan region is integrated into the ‘One Belt, One Road’ program, which connects the markets of Europe and Asia,” the deputy chairman pointed out.
“The new FEZ envisages investment cooperation, the establishment of an industrial cluster, including the processing of agricultural products, as well as mechanical engineering, electrical equipment production, tourism and educational clusters,” Temirgali concluded.