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08 July 2025
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08 Jul 2025
Environment, Kazakhstan Environment, Kazakhstan

Kazakhstan Considers Carbon Accounting System to Boost Emissions Transparency

Aydar Kazybayev, co-founder of the National Academy of Corporate Governance, has proposed the introduction of a carbon accounting system in Kazakhstan. He argues that such a system would enable the automatic calculation of greenhouse gas emissions at industrial enterprises and ensure more transparent and objective reporting.

“Today in Kazakhstan, greenhouse gas emission reports remain virtually unchanged, and in some cases have worsened. This is due to different companies conducting annual verifications without a unified verification history,” Kazybayev said at the Central Asia Thermal Power Forum.

He announced that a digital platform is scheduled for launch by the end of the year, aimed at integrating all combined heat and power (CHP) plants into a single emissions database. The system would allow companies to maintain carbon records independently via an aggregator or delegate the task to operators managing centralized “carbon accounts.”

“Our main objective is to reduce the administrative burden on companies required to submit such reports,” Kazybayev emphasized.

According to Kazakhstan’s most recent official submissions to the UN Framework Convention on Climate Change (UNFCCC), total greenhouse gas emissions stood at 375.4 million tons in 2020, declined to 328.4 million tons in 2021, and rose again to 353 million tons in 2022. The energy sector remains the largest contributor, accounting for 288.5 million tons in 2020, 251.4 million in 2021, and 281.9 million in 2022.

Kazybayev also cited technological innovations in China as potential models. Specifically, he highlighted China’s Smart Green Energy platform, which enables real-time monitoring of coal consumption and emissions, and generates both daily and annual reports. This system, currently in use at all coal-fired power plants in China, costs approximately $30,000.

“Such tools would be highly beneficial for Kazakhstan. They help accurately estimate resource usage and identify inefficiencies,” Kazybayev explained.

He also pointed to China’s modernization of coal-fired thermal power plants, where heat pumps and geothermal technologies are being adopted. These systems extract thermal energy from the air, ground, or water and integrate it into heating networks.

Air pollution remains a critical concern across Central Asia. As previously reported by The Times of Central Asia, the World Bank has attributed over 65,000 premature deaths annually to regional air pollution.

08 Jul 2025
Central Asia, Kyrgyzstan, Business & Economy, Kyrgyzstan Business & Economy, Kyrgyzstan Home

Kyrgyzstan Seeks Foreign Investment in Critical Minerals Sector

Kyrgyzstan is emerging as a potential player in the global critical minerals market and is actively seeking international partnerships to develop its untapped geological resources.

Speaking at the International Forum on Critical Minerals 2025 in Seoul on May 12-13, Deputy Minister of Natural Resources, Ecology, and Technical Supervision Marat Jusupbekov emphasized the country’s growing relevance in the strategic resource sector. He noted that Kyrgyzstan is home to 11 deposits of rare earth elements (REEs), positioning it as a promising destination for investment and cooperation.

“Kyrgyzstan has significant reserves of rare and critical minerals that are essential for the energy transition and high-tech manufacturing. We are open to cooperation with global partners,” Jusupbekov said during his address.

One of the most notable assets is the Kutessay II deposit, which holds more than 63,300 tons of rare earth metals, along with molybdenum, silver, bismuth, lead, and zinc. The government is promoting joint development of this site with the nearby Kalesai beryllium deposit, which contains an estimated 11,700 tons of beryllium. Both deposits are licensed to Kyrgyzgeology, a state-owned enterprise tasked with attracting foreign investment.

Jusupbekov also highlighted the potential of the Kyzyl-Ompol uranium-thorium group, including the Tash-Bulak area, where titanium-magnetite reserves are estimated at 5.5 million tons. This project is licensed to Kyrgyzaltyn, the country’s largest mining company.

The deputy minister underlined the strategic role of critical minerals in the global transition to clean energy and advanced manufacturing. Materials such as lithium, cobalt, manganese, gallium, indium, graphite, and zinc are essential for the production of solar panels, electric vehicle batteries, and other next-generation technologies.

“Kyrgyzstan is committed to modernizing its mining sector by adopting green technologies and responsible extraction practices,” he said. “We invite international partners to co-develop critical mineral projects and advance sustainable industrial growth.”

In December 2024, Kyrgyzstan signed Memorandums of Understanding with South Korea’s Ministry of Trade, Industry and Energy and the Korea Institute of Geoscience and Mineral Resources (KIGAM). These agreements laid the foundation for deeper cooperation and potential South Korean investment in Kyrgyzstan’s mining sector.

The International Forum on Critical Minerals 2025, co-hosted by KIGAM, South Korea’s Ministry of Trade, Industry and Energy, and its Ministry of Foreign Affairs, brought together representatives from 12 countries, including Kazakhstan, Uzbekistan, Tanzania, the Democratic Republic of the Congo, Nigeria, Mongolia, Vietnam, Indonesia, Australia, Canada, and new participants Kyrgyzstan and Tajikistan.

08 Jul 2025
Business & Economy, Kyrgyzstan, Kyrgyzstan Business & Economy

Kyrgyz Lending Surges 55% as Consumer Demand Fuels Growth

From January to May 2025, the volume of new loans issued by commercial banks in Kyrgyzstan rose by 55 percent, according to the Eurasian Development Bank’s (EDB) June macroeconomic forecast.

The sharpest increase was recorded in consumer lending, which more than doubled during the period, rising by 2.1 times. As a result, the total loan portfolio of the Kyrgyz banking sector grew by nearly one-third.

“High lending rates are supporting domestic demand: retail trade and public catering increased by 25.3 percent during the first five months of the year. Consumer activity will continue to drive economic growth,” the EDB report  states. Similar findings were previously released by the National Bank of the Kyrgyz Republic (NBKR), though with some differences in specific figures.

According to the NBKR, net profits of Kyrgyz banks from January to May totaled 12 billion som (approximately 137 million USD). The overall loan portfolio reached 404 billion som (around 4.6 billion USD), with overdue loans amounting to 7.3 billion som (83.5 million USD), or 1.8 percent of the total. The deposit base also showed strong growth: citizens deposited roughly 700 billion som (8 billion USD), reflecting a 17.7 percent increase since the start of the year.

Efforts to reduce dollarization have also shown progress. The share of foreign currency assets in banks’ loan portfolios fell by 1.5 percentage points to 18.5 percent. Meanwhile, the proportion of household deposits held in foreign currency declined by 4.6 percentage points to 38.4 percent.

According to EDB analysts, several key factors are driving Kyrgyzstan’s economic momentum. These include rising global gold prices, strong domestic consumption, and increased investment. Based on these trends, the bank has revised its 2025 GDP growth forecast for Kyrgyzstan upward by 1.6 percentage points. The country’s economy is now projected to grow by 10.3 percent this year.

08 Jul 2025
Central Asia, Uzbekistan, Local Politics, Uzbekistan Local Politics

Uzbekistan Elected to the UN FAO Council for the First Time

Uzbekistan has been unanimously elected to the Council of the Food and Agriculture Organization of the United Nations (FAO) for the 2028-2029 term, the country’s Ministry of Foreign Affairs has announced. This marks the first time Uzbekistan has secured a seat on the Council, which plays a pivotal role in shaping global agricultural and food policy.

The FAO Council consists of 49 member states, selected to ensure equitable geographic representation. It is tasked with reviewing the FAO’s budget and programs and making strategic recommendations to the FAO Conference.

Uzbekistan’s election is widely viewed as international recognition of the country’s recent reforms in agriculture and food security. Under the leadership of President Shavkat Mirziyoyev, the government has prioritized sustainability, food safety, and environmental protection.

Council membership will provide Uzbekistan with a stronger voice in international agricultural discussions. It will enable the country to participate in the development of global standards, support national and regional initiatives, and attract international funding to advance key development goals.

In recent years, Uzbekistan has collaborated closely with the FAO on several high-profile projects. In May 2024, the FAO and the Ministry of Ecology organized a workshop in Tashkent to launch a joint initiative on hazardous chemical management. Supported by the European Union, the project aims to reduce reliance on harmful pesticides by promoting safer alternatives to local farmers.

Earlier, in March 2024, the FAO and Uzbekistan’s Ministry of Agriculture hosted a seminar on the “Recarbonization of Agricultural Soils” (RECSOIL), culminating in an approved national action plan. The RECSOIL initiative complements two ongoing FAO projects focused on sustainable land management in drought-prone and dryland areas. These efforts are already benefiting Uzbek farmers through the adoption of modern, resource-efficient practices that improve productivity while preserving the environment.

08 Jul 2025
Home, Tajikistan Local Politics, Tajikistan, Local Politics, Kyrgyzstan, Kyrgyzstan Local Politics

Tajikistan-Kyrgyzstan Trade Soars More Than 15-Fold in 2025

Trade between Tajikistan and Kyrgyzstan has surged dramatically in 2025, increasing more than fifteenfold compared to the same period last year, according to the Customs Service of Tajikistan, as reported by Asia-Plus. From January to May, total bilateral trade reached $6.35 million, up from just $405,100 during the same period in 2024.

Tajik exports to Kyrgyzstan amounted to $1.59 million, while imports from Kyrgyzstan totaled $4.76 million. Analysts attribute the sharp rise to improving political relations and the state visit of Kyrgyz President Sadyr Japarov to Dushanbe on July 8-9, at the invitation of Tajik President Emomali Rahmon.

Bilateral trade has experienced fluctuations over the past decade. Peak volumes were recorded in 2018-2019, when annual trade neared $60 million, with more than $48 million in Kyrgyz exports to Tajikistan and over $14 million in Tajik exports. Since 2020, however, trade had been in decline, dropping to $26.2 million in 2021, $15 million in 2022, and just $11.4 million in 2023. Figures for 2024 remained low at approximately $11.6 million.

The strong recovery in 2025 is largely credited to progress on border delimitation, the opening of two new border checkpoints, and renewed political dialogue. Experts also cite a series of new intergovernmental agreements as contributing factors.

On June 30, during the visit of Tajikistan’s Foreign Minister Sirojiddin Muhriddin to Cholpon-Ata, both sides reaffirmed their commitment to expand trade and economic cooperation. A new target has been set: increasing annual trade to $500 million.

Since the beginning of the year, the two countries have signed 15 agreements, including border-related protocols and measures to strengthen both political and humanitarian ties.

08 Jul 2025
Central Asia, Tajikistan, Tajikistan Business Economy, Business & Economy

Tajikistan Seeks to Join China-Kyrgyzstan-Uzbekistan Railway Project

Tajikistan has officially expressed interest in joining the China-Kyrgyzstan-Uzbekistan (CKU) railway construction project, an ambitious regional transport initiative designed to enhance connectivity across Central and South Asia. The proposal was raised during a meeting between Tajik Minister of Transport Azim Ibrahim and Chinese Minister of Transport Liu Wei on July 2 in Tianjin, on the sidelines of the 12th Meeting of Transport Ministers of the Shanghai Cooperation Organization (SCO) Member States.

According to the Tajik Ministry of Transport, the two sides discussed potential Chinese support for Tajikistan’s accession to the CKU railway project, as well as participation in the development of a broader multimodal corridor linking China, Tajikistan, Uzbekistan, Turkmenistan, Iran, Turkey, and Europe.

The CKU railway, a strategically vital infrastructure project, spans 523 kilometers. Construction officially began on December 27, 2024, in Jalal-Abad, Kyrgyzstan. Once completed, the route will connect Kashgar in China with Torugart, Makmal, and Jalal-Abad in Kyrgyzstan, and Andijan in Uzbekistan. The railway is projected to handle up to 15 million tons of cargo annually. Currently, neither Kyrgyzstan nor Uzbekistan has a direct rail link with China, the only such connection in Central Asia runs through Kazakhstan.

At the SCO ministerial meeting, Minister Ibrahim noted that the SCO region already functions as a strategic bridge between East and West, North and South. He also outlined key emerging challenges, including the need to strengthen transport chain resilience, accelerate digitalization, reduce carbon emissions, and promote green logistics solutions.

To that end, Ibrahim proposed the establishment of a Unified SCO Digital Platform for managing multimodal transportation. This platform would harmonize customs, border, and transport procedures, enable real-time cargo tracking, streamline documentation, and enhance operational transparency.

The minister further emphasized the need to advance and integrate several major international corridors:

  • China – Kyrgyzstan – Tajikistan – Afghanistan – Pakistan – Indian Ocean
  • China – Tajikistan – Uzbekistan – Turkmenistan – Iran – Turkey – Europe
  • Trans-Caspian International Transport Route (TITR)

He also underscored the importance of attracting international partners to help restore and expand transport infrastructure through Afghanistan, describing it as key to unlocking new regional trade routes.

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