Developing relations with Azerbaijan and Georgia is of paramount importance for Kazakhstan in terms of realizing its transport and transit potential, Kazakh financier Galym Khussainov, former Chairman of the Management Board of Bank CenterCredit, told Report.
"In the current geopolitical situation, having alternative routes is extremely important, and therefore, building a multi-vector policy in the Black Sea region becomes relevant. By using the Caspian Sea and developing ties with Azerbaijan and Georgia, Kazakhstan can effectively use the Middle Corridor to ensure supplies to Black Sea ports," he stated.
Khussainov explained that the nearest seaports for Kazakhstan are located on the Russian and Georgian coasts of the Black Sea. He emphasized that the country does not have direct access to international waters, which makes it problematic to build efficient logistics routes.
"Recently, Teniz Capital Investments Banking placed the first tranche of $100 million from the Black Sea Trade and Development Bank (BSTDB) bond program on AIX. BSTDB, established in 1997, is one of the oldest development institutions. Its shareholders include 11 countries, some of which – Albania, Greece, Azerbaijan, and Armenia – do not have direct access to the Black Sea but understand the importance of participating in this initiative," he added.
Khussainov noted that a significant portion of cargo along the Middle Corridor to the Black Sea region currently comes from China.
"China delivers millions of tons of goods to Europe and other countries directly via the Middle Corridor. Kazakhstan plays a key role in this route, as the longest land segment passes through our country," the expert concluded.