Will Kazakhstan Get Profits from Chinese Transit?
Kazakhstan will annually gain 300 million US dollars on transit after opening Chinese international transit corridor Western Europe — Western China.
According to 365info.kz, Chinese trade corridor will be planned to open at the end of 2016. As Amangeldi Bekov, the representative of Investment Ministry, transit ways like Almaty-Khorgas and Shymkent-Tashkent will be conducted this year. For the fall of 2016, trucks which entered the country by Khorgas will be allowed to go through the western and southern areas of Kazakhstan.
As reports Xinhua, modernized roads will increase the capacity of cars by 1,5 times, transit transportations will be accelerated twice and waiting in the country borders planned to reduce by 1,5 times.
The total length of the international corridor will compose 8,445 thousand km, covering the territory of all main members of trade coalition like China (3 425 000 km), Russia (2 233 000 km) and Kazakhstan (2 787 000 km). The highway has to improve transport communications between Europe and Asia.
As reported Mr. Bekov, nowadays, the intensity of the corridor has already increased by 2,5 times. It started making a profit as well as trade traffic had grown.
It’s clear that the countries have to work together whatever sceptics say. New Silk Way Road might be a key aspect that helps Kazakhstan to get out from a crisis.
The possibility of transit delivering attracts investments into the region. It is assured by many experts.
«Considering potential opportunities of internal corridors, we set the purpose to increase transit volume twice along the route between the East and the West till 2020. The accelerated development and export growth from the central and western provinces of China will promote achievement of our purpose,» Askar Mamin, the manager in chief of Kazakhstan Temir Zholy, noted.
According to the expert estimates of United Nations Conference on Trade and Development (UNCTAD), trade volume between the main markets on the Eurasian continent by 2020 will grow by 1,5 times, in money estimation, from 800 billion dollars in 2014 to 1,2 trillion dollars till 2020.
The chairman of the board of JSC Institute of Economic Researches Maksat Mukhanov noted that potential volumes of Chinese trade with the countries involved to the New Silk Way can make 2,5 trillion tenges.
Many experts note that the creation of such transport corridor gives unconditional economic advantages.
After all the total amount of GDP of the countries which will be integrated into «The Silk Way» covers about a third of world GDP with growth prospect to a half of world GDP in a future.