Over the last three decades, China has reached a high economic growth rate. Now, functioning in an open economy, Chinese business firms need to enter global markets and participate more actively in global competition.
After suspending the Free Trade Agreement with Ukraine from January 1, 2016, Russia imposed a food embargo on Ukraine and blocked the transit of Ukrainian goods heading to Central Asian countries and China.
Located on the eastern shore of the Caspian Sea, the Aktau International Sea Trade Port is the only maritime gate of the land-locked Kazakhstan enabling transportation of dry cargoes, grain, crude oil and petroleum products by sea.
Due to its geographical location the Republic of Uzbekistan is far away from seaports and international transit routes leading to them. Therefore, since getting its independence in 1991, the country has begun construction of new railways in order to create integral railway system.
A signing ceremony of an International Agreement on Establishing a new international transport and transit corridor Uzbekistan – Turkmenistan – Iran – Oman – Qatar was held in Ashgabat on 25th of April, 2011. This agreement is known as “Ashgabat Agreement”.