• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09163 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09163 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09163 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09163 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09163 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09163 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09163 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09163 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
18 February 2025

Viewing results 385 - 390 of 1206

Kazakhstan Seeks Co-Production Venture with Italy

Following the Kazakh-Italian forum, "Kazakhstan–Italy: Trade and Investment Opportunities on the Way to Kazakhstan," on October 8 in Milan, the Kazakh Ministry of Trade and Integration reported that discussions had focused on renewable energy, the agro-industrial sector, tourism, pharmaceuticals, and technological innovations, with an emphasis on Kazakhstan's strategic importance in economic cooperation between Europe and Central Asia. The event came in the wake of Kazakhstan's President Kassym-Jomart Tokayev official visit to Italy in January 2024, which marked a significant step in strengthening Kazakh-Italian relations. The Minister of Trade and Integration of Kazakhstan Arman Shakkaliyev noted that Italy is one of Kazakhstan's key trading partners in the European Union with one of the three largest trade turnovers, and  proposed the introduction of  "Made with Italy"; a concept aimed to promote products created in collaboration with Italian companies. Valentino Valentini, Deputy Minister at the Italian Ministry of Enterprise and Made in Italy supported the notion and stressed that joint projects would stimulate the development of small and medium-sized businesses in both countries. Essential to the initiative, would be the creation of centers of excellence for the transition to European quality standards in Kazakhstan. To ensure the rapid entry of Kazakh products into the EU and Italian markets, such centers would issue certificates of equivalence of manufactured products to EU regulations. The forum also discussed prospects in the tourism sector, with Italian Minister of Tourism Daniela Santanke noting the significant potential for the growth of tourist exchange, facilitated by the launch of direct flights between Astana and Milan. The forum launched Kazakh companies' first trade and economic mission to Italy, involving over 50 enterprises representing agriculture, oilfield services, textile industry, tourism, and IT sectors. According to Kazakh statistics, in 2023, the trade turnover between Kazakhstan and Italy amounted to $16.1 billion, an increase of 7.8% since the previous year, with exports from Kazakhstan reaching $14.8 billion. In January-August 2024, bilateral trade increased by 33% to $13.8 billion, with Kazakh exports rising by 36% to $12.9 billion. Kazakhstan's main exports to Italy comprise crude oil (+38.1%), coal (309-fold increase), flax seeds ($4.1 million increase), and propylene polymers (71-fold increase).

Kyrgyzstan Encourages German Investment in Raw Materials Extraction and Logistics

During a Kyrgyz-German Business Forum in Munich on October 10, Kyrgyzstan’s Chairman of the Cabinet of Ministers, Akylbek Japarov, stated that  following the first Kyrgyz-German Business Forum in Hamburg over a year ago, bilateral relations between the two countries had strengthened alongside a mutual interest in deepening cooperation. Japarov cited the fact that 180 joint Kyrgyz-German enterprises are currently engaged in Kyrgyzstan’s trade, industry, agriculture, tourism, energy, education, and services sectors, and to encourage further  German investment and  participation in implementing the government’s ambitious economic development plans, invited businesses to attend the ‘Day of German Economy in Kyrgyzstan.’ Scheduled for summer 2025, the event follows three 'Days of Kyrgyz Economy' in Hamburg, Frankfurt am Main, and Munich. Addressing the forum, Kyrgyz Minister of Economy and Commerce Daniyar Amangeldiev spoke of Kyrgyzstan's interest in developing cooperation with Germany on raw materials, with reference to the presence of  100 raw material deposits in Kyrgyzstan. In addition, he proposed that German investors participate in auctions to gain the right to use the subsoil in Kyrgyzstan and develop deposits using modern technologies that comply with environmental standards. The minister also touched upon the development of transport and logistics infrastructure and invited German companies to collaborate in the development of Kyrgyzstan's logistics system, stating: "Kyrgyzstan, located in the heart of Central Asia, is  ‘landlocked’. At the same time, the Great Silk Road — a trade route between West and East, North and South — has been passing through our country since ancient times. Therefore, our country should rightfully be called ‘land connecting,’”

Employees in Uzbekistan to be Rewarded with Company Shares

Uzbekistan is to introduce an initiative to reward employees with shares in companies, under a  regulation  developed by The National Agency for Perspective Projects (NAPP). According to the NAPP, the transfer of shares to employees, as part of additional incentive programs, including bonuses, will help increase employee interest in the company's sustainable development and improve labor relations. The main goal of the initiative, modelled on ESOP (Employee Stock Ownership Plan) successfully applied in other countries, is to improve the population's welfare and develop the domestic capital market. Although joining in the Stock Ownership Plan will be voluntary, its development will be mandatory for joint stock companies with more than 50% state participation. The presidential decree on capital market development, issued in September 2023, envisioned the implementation of ESOP. Funds of up to one month's salary used to purchase shares will not be subject to personal income tax.

Kazakhstan-Tajikistan Trade Turnover Rises 6%

According to the State Revenue Committee of Kazakhstan's Ministry of Finance, the trade turnover between Kazakhstan and Tajikistan has reached $780.7 million so far this year, 6% higher than for the same period last year. From January to August 2024, Kazakhstan exported over 1.6 million tons of goods worth $613.2 million to Tajikistan, an increase of 15.5% compared to last year. The main export product was wheat, with 629,100 tons valued at $154.5 million. Tajikistan also produces more sunflower, safflower, and soybean oil – 44,800 tons (+8.2%), pasta – 5,300 tons (+20.7%), and sweet drinks – 12.5 million liters (+5.8 times). The export of aluminum oxide also increased by 40.5% to 105,400 tons; iron and steel rods increased 1.5 times, up to 36,800 tons; plastic windows and frames increased ten times, up to 12,400 tons; and smartphones and media stations increased 1.8 times, up to 148,100 units. However, the supply of liquefied gas decreased by 4% (211,300 tons). At the same time, imports from this country continued to decrease. In January-August, 220,800 tons (-19.4%) of products worth $167.5 million were imported from there. This decrease affected the sales volume of ores and concentrates (lead, copper, zinc) by 12.3%, up to 106,500 tons, and children’s scooters and skateboards by 32.6%, up to 46,00 units. In addition, Kazakhstan has begun to buy fewer fresh fruits and vegetables. For example, the supply of apricots, peaches, and grapes immediately decreased by 2.1 times, to 6,900 tons, and onions by 3.3 times, to 17,600 tons. However, the volume of imported dried fruits increased by 23.3% and amounted to 36,800 tons.

Tashkent Student Imprisoned for Trying to Broker Sale of Human Body Parts

A 21-year-old student studying at a university in Tashkent posted an advert on social media earlier this year, announcing that he would help citizens sell their kidneys, livers, and bone marrow. The student stated in his ad that he would buy a human kidney for $38,000, a liver for $43,000, and bone marrow for $23,000. Someone read the ad and said he wanted to sell one of his kidneys. The student said that the donor would be paid $38,000 for it, that the kidney transplant operation would take place in Germany, and that he would have to pay $350 before the trip. The student was caught while receiving this money. Law enforcement officers caught the student on April 26, when he received the agreed-upon $350 from the applicant. The police arrested him as a preventive measure. The student told the court that he did it because he needed money, but he had no acquaintances in Germany. He said he used the $350 for his own needs but wanted to return the sum to his acquaintance later. He also said that his brother, sister, and himself are students and asked the court not to punish him. The court sentenced him to three years in prison.

New Report From World Bank Condemns Tashkent Air Quality

A new World Bank report entitled "Air Quality Assessment for Tashkent and the Roadmap for Air Quality Management Improvement in Uzbekistan" gives a frightening assessment of the air quality in the country’s capital. The report finds that ambient PM2.5 concentrations in Tashkent, which peak in winter, substantially exceed international air quality standards. The annual average concentration exceeds six times the WHO’s average yearly guideline of 5 µg/m3. In Tashkent, PM2.5 ambient air pollution has considerable health and economic costs. It can be linked to health costs equivalent to 0.7% of Uzbekistan’s gross domestic product (GDP). Most air quality-related diseases and premature deaths in Uzbekistan and worldwide are linked to PM2.5, which the World Health Organization (WHO) has identified as the pollutant with the gravest health risk. According to IQAir, Tashkent, like other Central Asian cities, frequently ranks among the world's most polluted urban areas. According to the report, the primary sources of human-caused PM2.5 pollution in Tashkent are the heating (28%), transport (16%), and industrial sectors (13%). Cross-boundary sources like windblown dust (36% PM2.5 pollution) dominate in the summer, while commercial and residential heating is the primary source of PM2.5 pollution in the winter. The report’s AQM roadmap for Uzbekistan formulates priority actions such as updating air quality standards and legislation, developing a national AQM strategy and coordination mechanism, and taking measures in the industrial, transport, and heating sectors, which are most responsible for air pollution. The AQM roadmap recommends investments in emission reduction measures. The roadmap suggests that emissions from the heating sector can be reduced by improving the quality of fuels used and the efficiency of heating appliances, implementing energy efficiency measures, and switching to cleaner heating alternatives. At a government meeting on October 9, Uzbekistan’s President Shavkat Mirziyoyev reviewed a draft master plan for the city of Tashkent until 2045. Today the population of Tashkent is more than 3 million people, and it keeps growing. Over the past ten years, the average air temperature in Tashkent has increased by 1 degree Celsius. The number of cars is rising, and traffic is becoming increasingly congested. The new master plan takes these aspects into account. It plans to increase green areas in Tashkent and its suburbs threefold to 25,000 hectares, which will increase per capita green area from the current 3 to 6 square meters. Mirziyoyev emphasized the need to turn Tashkent into a city where at least 7.5 million people can live and work.