NAZARBAYEV PROPOSES SILK ROAD PROJECT IN KAZAKHSTAN
Astana. May 22. Interfax-Kazakhstan - President Nursultan Nazarbayev has offered foreign investors participation in a new mega-project called the Silk Road.
"Dear colleagues and friends, today I would like to propose that we embark on a new large-scale project the Silk Road together. Kazakhstan should restore its historic role and become the major transit hub of Central Asia, a bridge between Europe and Asia," Nazarbayev said at the 25th session of the Foreign Investors' Council in Astana on Tuesday.
"As a result of this mega-project, the volume of transit cargo flow through Kazakhstan should double by 2020 and in the future reach at least 50 million tons," he noted.
"How can we implement such a grand project? My vision is that we should make Kazakhstan a single international hub for trade, logistics, business, finance, innovation and tourism," the Kazakhstani president said.
According to Nazarbayev, the competitive strategy of the project will be based on cost, speed, service, safety and stability.
"The yearly trade volume between China and Europe already exceeds $500 billion and is growing at a rate of 8% a year. By 2020 it will reach $800 billion. The transit route from China to Europe through Kazakhstan has an undisputable advantage," he concluded.
The president ordered the government of Kazakhstan to evaluate the idea of the project jointly with foreign investors and present proposals for its practical implementation.