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Uzbekistan and Kazakhstan are increasing the dynamics of cooperation

On September 22 this year, Laziz Kudratov, Minister of Investment, Industry and Trade held talks with Arman Shakkaliev, Minister of Trade and Integration of the Republic of Kazakhstan. During the dialogue, the parties discussed in detail the implementation progress of current joint projects and agreements, as well as the possibilities of expanding bilateral trade, economic, transport, logistics and interregional cooperation.

As of today, 7 trade contracts and 24 joint investment agreements signed during the visit of the President of the Republic of Kazakhstan to our country in December 2022 are under implemented. The meeting made it possible to “synchronize the watches” to implement the agreements in a timely manner.

The sides noted with satisfaction the positive dynamics of trade turnover growth between the two countries. Over the past 6 years, the indicator has grown almost 2.5 times and amounted to $4.6 billion. In this context, the tasks of further increasing the volume and expanding the nomenclature of mutual trade were defined.

In particular, additional opportunities to increase mutual trade turnover to $10 billion in the coming years due to mutual supplies of food, textiles, automobiles, electrical equipment, ferrous metals, oil and gas products, were stressed. A joint foreign trade company created in spring this year, which has already exported products totaling $1.3 million during its operation, is designed to contribute to this.

During the dialogue, specific measures were also outlined to expand the scale of investment partnership and industrial cooperation, as well as the current implementation state of joint projects in the energy sector, chemical industry, agriculture, infrastructure, transport and other issues of mutual interest.

As a result of the meeting, the format of further cooperation on the implementation of the agreements reached and the definition of new areas of mutually beneficial cooperation was agreed.