US to help Central Asian countries find new foreign trade markets

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The United States Agency for International Development (USAID) is hosting the 13th Central Asian Trade Forum on the theme "Trade Integration: Reaching Global Levels," which began in Almaty, the U.S. Embassy in Kazakhstan reports.

The American diplomatic representation positions this forum as a "major trade event contributing to the development of cooperation, entrepreneurship, and trade policy in the region."

It is noted that over the years of the forum's existence, more than 10,000 representatives from governmental and commercial structures from 25 countries in Central and South Asia, Europe, and the USA have participated, resulting in contracts worth over $32 million being signed.

What will be discussed?

According to the U.S. Embassy, the forum in Almaty aims to open up new trade opportunities and foreign markets, enabling participants to identify prospects and expand the scale of regional trade.

The event includes sessions on customs digitization, transportation and logistics, trade regulation (including regional trade agreements), as well as World Trade Organization standards.

Louis Rivera, the Director of the USAID Regional Mission in Central Asia, noted that the success of the forum is ensured by the annual participation of policymakers, leading entrepreneurs, and trade experts.

"Agreements reached at the forum contribute to expanding business, strengthening trade between Central Asian countries, and promoting economic growth in the region and beyond," he added.

Additional Events

To attract even more investors and entrepreneurs, additional events are included in the forum program.

Parallel to the forum, a trade exhibition will take place featuring 40 companies from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. Agricultural, textile, garment, and food products will be showcased.

Also, a platform (Business Expo) is provided for negotiations on the export of Central Asian goods to countries in other regions of the world.

Additionally, during the forum, a Pakistan-Kazakhstan trade exhibition will be held, aimed at demonstrating the potential of Pakistani businesses to strengthen international economic ties.

On May 15, the 11th Regional Meeting of National Committees on Trade Facilitation of Central Asian Countries will take place. Executive bodies from the five countries of the region responsible for customs, transportation, phytosanitary and veterinary control at the border, as well as representatives of the private sector, will participate.

The event aims to present regional initiatives and roadmaps for Central Asia and develop a joint action plan to improve trade procedures in the region.

May 14, 2024