Uzbekistan and Kazakhstan are increasing the dynamics of cooperation

On September 22 of this year, negotiations between the Minister of Investment, Industry and Trade Laziz Kudratov and the Minister of Trade and Integration of the Republic of Kazakhstan Arman Shakkaliev took place, the PR center of the MIIT reports. During the dialogue, the parties substantively reviewed the progress of implementation of current joint projects and agreements, as well as the possibilities of expanding bilateral trade, economic, transport, logistics and interregional cooperation.

Thus, to date, 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 being implemented. The meeting allowed us to “synchronize watches” in order to timely implement the agreements.

The parties noted with satisfaction the positive dynamics of growth in trade turnover between the two countries. Over the past 6 years, the figure has increased almost 2.5 times and amounted to $4.6 billion. In this context, tasks have been identified to further increase the volumes and expand the range of mutual trade.

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

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

Following the meeting, a format for further interaction was agreed upon to implement the agreements reached and identify new areas of mutually beneficial cooperation.