Central Asia has enormous potential
to increase intra-regional trade to $15 billion. There are all the
prerequisites for achieving this, according to economist Saparbai Zhumayev. In
the past five years alone, mutual trade turnover within the region has doubled.
Last year, it grew by nearly 25 percent, reaching $11 billion. In particular,
Kazakhstan has enhanced trade interaction with Central Asian countries, with
trade volume rising by almost a third to $8 billion. The expert notes that a
solid basis for cooperation has been formed in the region to increase the
indicator. Important documents were signed at the sixth consultative meeting of
the heads of state of Central Asia in Astana, including the Central Asia 2040 Regional
Cooperation Development Concept and the Roadmap for regional cooperation.
Additionally, the region is rapidly becoming a key link in global
transportation networks. Kazakhstan and its partners are actively developing
the Middle Corridor, with the potential to increase transportation volumes
along this route fivefold.
«The manufacturing industry has
particularly high potential. We need to strive to purchase products within the
region, thereby stimulating trade, especially since we have goods to offer each
other. Our neighbors produce certain products, and we also have processed
industrial goods. There are opportunities in the energy sector as well, in
transport, for example, the Trans-Caspian route. The region’s products can reach
Europe via the Caspian Sea, the Caucasus states, and Azerbaijan. We have
enormous transit potential,» Zhumayev said.
