KazPost, the Chinese YTO Express Group, will build an international warehouse in Almaty

KazPost and China's YTO Express Group are going to build a high-tech Class A warehouse with an area of approximately 40,000 square meters in Almaty, KazPost CEO Asel Zhanasova said at a meeting with President Kasy-Zhomart Tokayev on May 14, Akorda reports. .

The facility is expected to become a key transit hub in Eurasia, strengthening Kazakhstan's transit capabilities on routes from China to the European Union, the Eurasian Economic Union and Central Asia.

YTO Express Group is one of the five largest express delivery companies in China, known for its global logistics platform, its own international air routes and offices in developed countries such as Australia, Japan, South Korea, the United States and others.

"The Kazakhstan market is the first step for YTO Express Group to form a partner network in Central Asia," commented Adil Kaukenov, a leading Kazakh expert on China.

Kaukenov emphasized KazPost's significant contribution to the national treasury, paying taxes and fees totaling 32.7 billion tenge (US$74.2 million), Zhanasova said.

The general director of KazPost noted that over the past year, the volume of parcels has increased by 35%, and the speed of parcel delivery within the country has doubled. In 2023, the company posted a profit of 2.4 billion tenge (US$5.4 million) for the first time in five years, paying a dividend of 1.5 billion tenge (US$3.4 million) to its shareholder.

Zhanasova informed Tokayev about the current state of the infrastructure and branch network across the country. The President instructed to continue the work on the financial recovery and improvement of the company's logistical capabilities.