Minister of Investment, Industry and Trade Laziz Kudratov met with the Minister of Trade and Integration of the Republic of Kazakhstan Arman Shakkaliyev to discuss the implementation of current joint projects and agreements, as well as the potential for increasing bilateral trade, economic, transport, logistics, and interregional cooperation. The two sides noted the positive trend in trade turnover between the two countries, which has grown approximately 2.5 times in the past 6 years, amounting to $4.6 billion. To further expand the mutual trade, the parties identified tasks to increase the volumes and diversify the range of trade. It was suggested that the mutual trade turnover could reach $10 billion through the exchange of food, textiles, automobiles, electrical equipment, ferrous metals, and oil and gas products in the upcoming years. The recently established joint foreign trade company, which has already exported products worth $1.3 million, is expected to be a major contributor to this.

The conversation also included measures to broaden the scope of investment partnership and industrial cooperation, as well as the review of existing joint projects in the energy sector, chemical industry, agriculture, infrastructure, transport, and other areas of mutual interest.

UzA

Bilateral trade between Uzbekistan and Kazakhstan is on the rise

Minister of Investment, Industry and Trade Laziz Kudratov and the Minister of Trade and Integration of the Republic of Kazakhstan Arman Shakkaliyev recently met to assess the progress of ongoing joint projects and agreements and explore potential for enhancing bilateral trade, economic, transport, logistics, and interregional cooperation. It was noted that the trade turnover between the two countries had increased significantly over the past 6 years, registering a 2.5-fold growth to $4.6 billion. The parties identified tasks to further increase the volumes and diversify the range of mutual trade. It was proposed that the two countries could reach a mutual trade turnover of $10 billion through the exchange of food, textiles, automobiles, electrical equipment, ferrous metals, and oil and gas products in the near future. The recently established joint foreign trade company, which has already exported products worth $1.3 million, is expected to be a major contributor to this.

The discussion also focused on measures to widen the scope of investment partnership and industrial cooperation, as well as the review of existing joint projects in the energy sector, chemical industry, agriculture, infrastructure, transport, and other areas of mutual interest.

UzA