ASTANA, Kazakhstan, March 17. Kazakhstan and Uzbekistan aim to increase their mutual trade turnover to $10 billion by 2030, Trend reports.
The program to increase trade turnover was signed by the Minister of Trade of Kazakhstan, Arman Shakkaliev, and the Minister of Investments, Industry, and Trade of Uzbekistan, Laziz Kudratov, during a working meeting.
On the course of the negotiations, the parties discussed the implementation of the $7 billion Roadmap projects, the development of the legal framework for the creation of the International Industrial Cooperation Center "Central Asia," and the expansion of the joint venture UZKAZTRADE LLC.
As part of Shakkaliev's business trip to Uzbekistan, a Kazakh pavilion was opened at the International Trade Center in Uzbekistan’s Termez.
"Today's event is a vivid example of strengthening trade and economic ties between Kazakhstan, Uzbekistan, and Afghanistan. Our countries are united not only by good neighborly relations but also by dynamically developing cooperation in various fields," undercored Shakkaliev.
The pavilion will function as a pivotal nexus for the
enhancement of Kazakhstani commodities, facilitating market
expansion, executing novel trade agreements, and fortifying
synergies among business ecosystems.
The intergovernmental commerce exchange between the nations in 2024
reached a substantial $4.1 billion in transactional volume.
Kazakhstan occupies the third position in the hierarchy of
Uzbekistan's trade partnerships. As of the commencement of the
fiscal year 2025, a total of 1,041 entities exhibiting Kazakh
stakeholder involvement have been duly registered within the
jurisdiction of Uzbekistan.
