Uzbekistan and Kazakhstan jointly created the export-import enterprise "UzKazTrade". The founders of the company were QazTrade Trade Policy Development Center JSC and UzTrade JSC, the press service of QazTrade reports.
The company's activity will be aimed at conducting market research and competitive analysis for the products of large enterprises of the two countries, developing proposals for placing orders for the production of finished products.
In addition, the company will be engaged in the optimization and coordination of mutual trade processes, assistance to businesses in certification and promotion of products for export, as well as in the supply of technological equipment, spare parts, components, raw materials and materials produced in Uzbekistan and Kazakhstan to replace imports from third countries, search for new buyers and consumers of products.
The creation of a joint company will allow Kazakh enterprises to increase the volume of supplies of goods to the markets of the two countries, will contribute to the development of proposals for the removal of restrictions and barriers in mutual trade, said Nuraly Bukeikhanov, CEO of QazTrade
“At the initial stage, it is planned to purchase fruits and vegetables from Uzbekistan to meet the needs of the domestic market of Kazakhstan. In addition, we will help sell Kazakh flour products on the territory of Uzbekistan with the possibility of further export to Afghanistan. We have agreed with the Uzbek side to provide preferences for logistics costs,” Bukeikhanov said.
In addition, the implementation of the project will help improve the efficiency of government measures to reduce the dependence of the Kazakhstani market on imports from third countries.
At the end of 2022, the trade turnover between Kazakhstan and Uzbekistan reached $5 billion, which is 29.8% higher than the previous year ($3.8 billion). The volume of export deliveries of Kazakh goods increased by 33% and amounted to $3.7 billion. The growth in exports was mainly due to an increase in the supply of copper ore and concentrates (an increase of 4.8 times), wheat (by 32.3%), cars (by 83.7%), sunflower oil (by 97.2%), fresh and chilled beef (4.1 times increase), raw aluminum (by 70.4%).
Imports to Kazakhstan from Uzbekistan in 2022 increased by 21.4% and amounted to $1.3 billion. Basically, Kazakhstan buys car bodies, internal combustion engines with spark ignition, grapes, clad flat rolled products from unalloyed steel, lead ores and concentrates, building bricks, floor blocks and similar articles of ceramics, parts and accessories for motor vehicles and tractors, ethylene polymers.
CentralasianLIGHT.org
March 3, 2023