Uzbekistan and Kazakhstan intend to increase trade turnover to $10 bln

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Kazakhstan and Uzbekistan intend to increase mutual trade by 2.5 times, reaching $10 billion, Sputnik Kazakhstan reports.

The announcement was made during the negotiations between the Minister of Foreign Affairs of Uzbekistan, Bakhtiyor Saidov, and his Kazakh counterpart, Deputy Prime Minister and Minister of Foreign Affairs Murat Nurtleu.

Both sides noted significant achievements in industrial cooperation.

"Currently, 12 joint projects with a total value of $156 million are underway. In addition, 21 projects worth about $1 billion are being explored. The next milestone is to increase the trade turnover to $10 billion without losing the momentum gained," said Nurtleu during a press briefing following the meeting.

In turn, Bakhtiyor Saidov reminded that the bilateral trade turnover of the two countries has doubled in recent years.

"Economic and trade relations are one of the most crucial aspects of our relationship. Kazakhstan is our largest trading partner in Central Asia. Over the past few years, mutual trade turnover has doubled. Recently, we discussed ways to increase this figure by 2-3 times," he noted.

The heads of the foreign ministries of Uzbekistan and Kazakhstan also discussed issues related to enhancing the transport-transit potential of both countries, modernizing checkpoints at border areas, expanding their capacity, digitizing customs and other services.

"Against the backdrop of climate change, the issues of using water resources become a priority. Therefore, we have placed special emphasis on the introduction of modern technologies for the rational management of transboundary rivers in Central Asia, strengthening the legal and structural basis of the International Fund for the Salvation of the Aral Sea," said Saidov.

The Uzbekistan Foreign Minister is in Kazakhstan for an official visit. The program of the visit includes negotiations between Bakhtiyor Saidov and the President of Kazakhstan, Kassym-Jomart Tokayev.

February 20, 2024