Chinese pledge $600m to Khorgos Free Economic Zone

China is to spend  $600m over the next five years improving the logistical infrastructure of  the Khorgos-Eastern Gate Free Economic Zone (FEZ), the Temir Zholy (KTZ) national railway company in Almaty announced  today. Covering  an area of around 6,000 ha on the Kazakh-Chinese border, the FEZ is a vast  complex of dry ports, logistics and industrial zones – and a key transport hub for the Chinese port of Lianyungang.
“Kazakhstan and China possess substantial potential and opportunities for the future development of the mutually beneficial partnership in transportation and logistics,” the KTZ statement said, adding that bilateral business ties had already  yielded positive results since the opening of the Kazakh-Chinese terminal at Lianyungang.
The partnership would also open the way for  further bilateral development of the two countries’ international railway networks and a reduction of tariffs and red tape, it added.