Kazakhstan, Uzbekistan aim to increase trade turnover to $10 billion

Kazakhstan and Uzbekistan account for more than half of all trade in Central Asia. The countries are actively developing cooperation in all areas. This includes not only trade and economic relations but also investment, water, and energy sectors. They are also expanding cooperation in transport, industry, agriculture, environmental protection, and digitalization, which is evidenced by statistical data. Last year, the mutual trade turnover amounted to $4.5 billion. In the first four months of 2024 alone, it exceeded $1.2 billion. Overall, in the past five years, trade between the countries has grown by almost 30 percent. Regarding industrial cooperation, 69 projects worth over $3 billion are planned for implementation. To date, 12 joint projects worth $217 million have already been successfully completed. Besides, three investment projects worth $178 million are currently underway. The countries also aim to expand partnerships in mechanical engineering and establish new joint industrial productions. The primary goal set by the leaders of Kazakhstan and Uzbekistan for their governments is to increase mutual trade volumes to $10 billion. Notably, the countries intend to collaborate within a special bilateral cooperation document signed recently.

Web-editor: Aizhan new