Interfax reported that Vnesheconombank, Russian Railways and freight shipper Transcontainer have concluded a memorandum of understanding on developing rail transportation corridors linking Europe and Asia.

The document was signed at a business forum in Sochi.

The signatories agree to cooperate and coordinate actions to implement projects that develop international rail transportation infrastructure, provide comprehensive services for freight shipment through Kazakhstan and Russia and create unified infrastructure to process shipments in order to expand Russia's transit potential and stimulate export of transportation services.

The memorandum will make it possible to develop transportation and logistical infrastructure in Russia and the CIS, reintegrate the transportation networks of FSU countries and enable Russian and CIS transport companies to carry out joint projects to develop various segments of the transportation business.

(Sourced from Interfax)