(Last Updated On: October 8, 2023)

In recent years, Latvia and Kazakhstan have witnessed a significant increase in road transport activity and substantial growth in the railway sector. Both countries are keen to further deepen their collaboration in the transportation industry, with a focus on road and rail networks. This report explores the economic implications of their cooperation.

Growing transport links

The intensification of road transport between Latvia and Kazakhstan has been notable in recent years, reflecting the strengthening economic ties between the two nations. Moreover, the railway sector has experienced a fourfold increase in freight transport in 2022 compared to the previous year. This positive trend has prompted both countries to explore opportunities for enhancing their cooperation in road and rail transportation.

Related:  12 EU countries to acquire citizenship by ancestry

High-level delegation visits

From October 2nd to 6th, Latvia’s Deputy State Secretary of the Ministry of Transport, Uldis Reimanis, led a delegation of industry companies on an official visit to Kazakhstan. Their mission was to participate in a prominent transport and logistics exhibition and business forum, where they aimed to engage with local service providers to discuss the potential development of a multi-modal transport network.

The international transport-logistics exhibition, TransLogistica Kazahstan 2023, hosted in Astana from October 4th to 6th, provided a platform for Latvia to showcase its capabilities. More than 50 representatives from Latvian transport and logistics companies, including Riga Freeport, Ventspils Freeport, Liepaja SEZ, Latvian Railway, and Riga International Airport, participated in the event. The exhibition facilitated discussions with existing and potential partners, exploring opportunities for collaboration and the creation of new logistical routes.

Related:  Latvia sends impounded cars to Ukraine to aid war efforts

Prospects in aviation

The Ministry of Transport revealed ongoing discussions regarding aviation cooperation between Latvia and Kazakhstan, with the aim of signing an agreement on air traffic in the near future. This agreement would significantly expand mutual transport logistics options, enhancing connectivity and economic prospects.

In conjunction with the exhibition, Astana also hosted the New Silk Way business forum. The forum included panel discussions on Kazakhstan and Central Asia’s role in the development of international transport corridors, particularly within the current geopolitical context. These discussions held the potential to shape future economic partnerships.

Related:  Canadian troops in Latvia to fast-track purchase of advanced military equipments

During the visit, Deputy State Secretary Uldis Reimanis met with Kazakhstan’s Minister of Transport, Marat Karabayev, on October 5th. The discussions centered around collaboration in road, rail, and aviation transport logistics, as well as opportunities to enhance freight-carrying operations through Latvia’s sea ports. Importantly, Reimanis extended an invitation to Minister Karabayev to visit Latvia and explore the country’s offerings in the transport and logistics sector in person, reinforcing the commitment to bilateral cooperation.

The visit and participation in TransLogistica Kazahstan 2023 underscore the growing economic ties between Latvia and Kazakhstan, particularly in the realm of transportation and logistics. The discussions and agreements forged during this event hold significant promise for the future of economic cooperation between these two nations.