Kazakhstan and Uzbekistan signed agreements to implement investment projects and trade contracts totaling $7 billion. The documents were signed during the state visit of Uzbek President Shavkat Mirziyoyev to Astana, Asiaplus.tj reports.
At a bilateral meeting held on the sidelines of the "Kazakhstan-Uzbekistan" business forum, the Vice Premiers of both countries, Serik Zhumangarin and Jamshid Khodjaev, agreed on the joint implementation of 34 investment projects worth $4.4 billion and seven trade contracts worth $2.6 billion, according to the press service of the Kazakh government.
The cooperation covers various sectors, including energy, logistics, construction, chemical, electrical, textile, and agriculture, with the majority of projects focusing on agriculture. Specifically, the parties agreed on joint cultivation of agricultural products and deep processing of grain and rice in Kazakhstan, production of silk products in the Turkestan region, and the establishment of enterprises for the production of packaging materials and the processing of cattle hides.
During the negotiations between the two presidents, it was noted that bilateral trade turnover has doubled in recent years, and the number of joint ventures has increased fivefold. The governments were tasked with adopting a program to increase trade turnover to $10 billion by September.
Presidents Kassym-Jomart Tokayev and Shavkat Mirziyoyev also agreed to:
- Accelerate the construction of the International Center for Industrial Cooperation in the Syrdarya region and host enterprises there.
- Explore the creation of a Joint Investment Fund.
- Ensure favorable conditions for transit cargo transportation, construction of joint logistics complexes, and development of road and rail routes between the two countries.
- Expedite the implementation of strategic regional projects, including the construction of Kambarata-1 Hydroelectric Power Station in Kyrgyzstan.
- Transform the Regional Forum into the Council of Regional Leaders of both countries, with the first meeting to be held in Samarkand this autumn.
After the negotiations, Mirziyoyev and President Tokayev held the first session of the High Intergovernmental Council. The session concluded with a ceremony for signing bilateral documents, including a joint statement by the presidents and decisions of the High Intergovernmental Council on approving the Strategic Partnership and Alliance Program for 2024-2034 and establishing a Council of Foreign Ministers.
CentralasianLIGHT.org
August 9, 2024