Singapore and Kazakhstan plan Eurasia to ASEAN trade & transit corridor
Singapore and Central Asia’s biggest state Kazakhstan are the leading transit hubs in their regions. This is one of the reasons why the two countries are establishing close economic ties that can stimulate growth and find new business opportunities. This will also boost India’s role as a link country between SE Asia and Eurasia as well as the Chabahar Port where India has gained management rights for 10 years.
Kazakhstan is developing a Trans-Caspian international transport route that will connect the vast markets of Asia and the EU. Kazakhstan's cooperation with Singapore, a major international transport and logistics center, can help both countries improve the efficiency of transport links in Asia. Singapore has arrangements with Eurasian Economic Union to boost economic presence in Eurasia.
In a world with a new geopolitical alignment, security and consistency of supply chains have become more important than ever. In this regard, Kazakhstan has enormous potential for the supply of rare earth metals, the demand for which is growing every day due to the development of green energy. These metals are also widely used in high-tech devices and electronics, in the manufacture of batteries and magnets, according to experts.
The visit of Singapore President Halimah Yacob to Kazakhstan in May 2023 once again highlighted the mutual desire of Kazakhstan and Singapore to strengthen economic ties. The meeting of the two heads of state became a platform for discussing key areas of mutual interest, including trade,
