We had previously announced the work our company has been conducting regarding its activities on the China-Turkey transportation corridors, including company establishments and potential agreement discussions. During the meetings that our company executives have been holding in China, significant progress has been made on two key fronts.
In the discussions with the senior logistics executives of the Shanghai Cooperation Organization (Trade and Economic Multifunctional Platform for SCO Countries), mutual understanding was confirmed regarding collaboration on establishing joint railway transportation and logistics centers in the Middle Corridor.
Furthermore, considering the increasing logistics and transportation demand between China and Turkey and the deepening of global trade, a Strategic Cooperation Framework Agreement was signed between our company`s subsidiary, Pasifik Global Logistics Group, and China`s state-owned Chongqing Logistics Group Co. Ltd. and Eurasia Link Global Limited. Chongqing, located in western China, is an important transportation hub connecting China to international transport corridors, providing certain advantages, particularly in the operation of China-Turkey express trains.
With this cooperation agreement, the aim is to strengthen the functionality of the Middle Corridor, the Trans-Caspian International Transport Corridor, by prioritizing the China-Kazakhstan-Azerbaijan-Georgia-Turkey railway network. Additionally, new partnerships are being sought to extend transport operations to Western Europe and North Africa.
The parties have committed to working together to expand the market and deepen commercial cooperation, jointly promoting the logistics advantages of railway transportation from Chongqing to countries along the Middle Corridor, and increasing cargo consolidation and distribution capacity.
Similar operations and activities are expected to be developed in other provinces of China in the near future.
We present this information to our investors and the public.
This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.