Both the countries are key transit and trade hubs in respective regions. They have signed FTAs bringing down trade barriers, simplifying trade processes. Further the new corridor will have India as a key destination for trade and shipping activity. Even the Chabahar Port is expected to attract more volumes, playing a key role in this corridor enabling swift movement of cargo.
Kazakhstan will focus on developing the Trans-Caspian international transport route, while Singapore will expedite its market in Eurasia, banking on its influence in the Eurasian Economic Union. Kazakhstan is said to have huge repositories of rare earth metals which are largely used in the manufacturing of batteries. Thus, the region can see the establishment of new supply chains as well. New supply chains and new trade avenues will see movement of investments, technology and innovation in these regions.
