ASTANA – Deputy Prime Minister Serik Zhumangarin spoke about the possibilities of the Trans-Caspian International Transport Route (TITR) and large lithium deposits in Kazakhstan during a May 15 meeting with Minister of Industry and Trade of Vietnam Nguyen Hong Dien, reported the Prime Minister’s press service.
Photo credit: Prime Minister’s press service
Zhumangarin encouraged Vietnamese companies to explore the possibilities of the TITR allowing Vietnamese exports to move from east to west three-four times faster than along sea routes, significantly reducing costs.
“We consider TITR the most optimal route between Asia and Europe. We also propose to use the capacity of the Kazakh-Chinese terminal in the seaport of Lianyungang and the dry port in Xian,” he emphasized.
The officials also addressed the cooperation in the mining and processing of rare earth metals. Zhumangarin suggested that the Vietnamese delegation focus on Kazakhstan’s abundant lithium reserves, which might be used to produce lithium-ion batteries for electric vehicles. This will contribute to the growth of Kazakhstan’s high-tech sector and allow Vietnamese automakers to maintain their competitive advantages, he said.
According to Zhumangarin, Vietnam is one of Kazakhstan’s major partners in Asia. In 2023, trade turnover increased by 85.4%, reaching almost $1 billion. There are 13 flights a week between the countries.
