Kazakhstan and Kyrgyzstan signed an agreement on the creation of an industrial trade and logistics complex

On the sidelines of the Astana International Forum, Deputy Prime Minister - Minister of Trade and Integration of the Republic of Kazakhstan Serik Zhumangarin and Minister of Economy and Commerce of the Kyrgyz Republic Daniyar Amangeldiev signed an agreement on the creation and regulation of an industrial trade and logistics complex on the border of Kazakhstan and Kyrgyzstan.

As Serik Zhumangarin noted, preparatory work for the signing of the intergovernmental agreement has been carried out for several years.

«This is a further step towards the development of our economic and good-neighborly relations, a huge breakthrough for the business of Kazakhstan and Kyrgyzstan. The agreement was prepared for several years, details were clarified, investors were determined, a huge number of government agencies from different sides were involved. Therefore, today's result of the meeting is a historic moment», — S. Zhumangarin said.

The creation of a trade and logistics complex will contribute to the development of industrial cooperation in the region, the expansion of mutually beneficial cooperation, the attraction of new technologies, the improvement of logistics and infrastructure.

«The construction of an industrial trade and logistics complex will give a new impetus to strengthening our trade and economic ties, increasing mutual trade turnover. Our task is to increase not only the volume of trade, but also industrial cooperation. An investor has already been identified for the implementation of the ITLC project. We expect that in the near future the trade turnover between Kyrgyzstan and Kazakhstan will double», — Daniyar Amangeldiev shared his plans.

By the way, today the mutual trade of Kazakhstan and Kyrgyzstan exceeds $ 2 billion.

The complex is planned to be located near the Karas and Aktilek checkpoints, it will consist of production sites, warehouses for storing goods and equipment, as well as transport infrastructure. This will speed up the delivery of goods and reduce logistics costs.

The agreement reached establishes the legal status and functions of the ITLC.

The activity of the trade and logistics complex will ensure production cooperation in the field of warehousing, storage, processing of products, the release of new goods and their further sale. On the basis of ITLK, short-term storage, logistics, rental of retail locations, pre-sale preparation, consolidation and redistribution of goods by wholesale lots, loading and unloading, documentation on export-import operations, legal and financial advice will be provided.