Uzbekistan wants to remove all barriers to trade with Kazakhstan

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Uzbekistan wants to expand the trade with the neibors and especially with Kazakhstan. Tashkent aims to reach the volume of trade with Kazkahstan up to $10 bln.

At the meeting held at the Ministry of Investments, Industry, and Trade of Uzbekistan in Tashkent between its head, Laziz Kudratov, and the Minister of Trade and Integration of Kazakhstan, Arman Shakkaliyev, the progress in implementing the roadmap for investment agreements and trade contracts signed during the visit of Kazakh President Tokayev to Uzbekistan in December 2022 was discussed.

During the meeting, the parties noted the growth in mutual trade volumes. Over the last 6 years, trade turnover has increased almost 2.5 times, from $1.9 billion in 2016 to over $4.6 billion in 2023. Emphasizing the existence of untapped opportunities, the parties agreed on a series of measures to increase trade volumes to $10 billion in the coming years.

In particular, the creation of a joint working group to remove barriers in bilateral trade was agreed upon. The parties also expressed readiness to support the activities of the joint foreign trade company UzKazTrade, which will include an online trading platform for a wide range of goods in both countries' markets.

A constructive exchange of views took place on the development of industrial cooperation, considering practical aspects of establishing the International Center for Industrial Cooperation "Central Asia." An agreement was reached to take joint measures for the accelerated establishment and launch of the center.

On the same day, the Kazakh delegation familiarized itself with the products and technological potential of the Technopark in Tashkent, which currently encompasses around 20 projects focused on creating high-tech, competitive, export-oriented, and import-substituting productions.

CentralasianLIGHT.org

January 8, 2024