On May 27, the participants of the OSJD railway summit signed the Seoul Declaration that provides for the strengthening of interaction and cooperation between railways, carriers, and operating and forwarding companies throughout Eurasia, including a connection with the Korean peninsula.
The signatories intend to focus on assessing the Asian and European market of producers that can provide the reverse loading of cars and containers to reduce the proportion of empty runs, which will increase the price competitiveness of Eurasian routes.
In addition, a coordinated tariff policy is proposed using the principle of “one window” when shipping documents and interacting with public servants with a simplification of border-crossing procedures.
The parties plan to carry out a concerted action for the development of infrastructure, information technology, and the development of a rail traffic schedule in order to reduce the delivery time of goods.
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