• KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09388 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09388 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09388 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09388 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09388 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09388 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09388 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01172 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09388 0%
  • UZS/USD = 0.00008 0%

Viewing results 97 - 102 of 126

CIPE’s Inaugural B5+1 Forum Opens in Almaty

In recent years the countries of Central Asia have taken more confident steps towards working with the United States and Europe, so that both local and international companies and agencies can capitalize on the region’s potential.  Instrumental in this process has been the Center for International Private Enterprise (CIPE), which last year created the diplomatic ‘C5+1’ platform – a group comprising the governments of the five Central Asian republics – Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan – plus the United States, whose State Department has been integral to the development of the platform. Following the first C5+1 Summit in New York in September 2023, led by the presidents of all six countries, CIPE has now created a dedicated business platform for these nations: ‘B5+1’. The inaugural B5+1 Forum will be held in Kazakhstan’s business capital of Almaty this week, and will bring together policy makers from Central Asia, America and other countries, as well as high-profile private companies working in the region.  At the C5+1 Summit, presidents Biden, Tokayev, Mirziyoyev, Japarov, Rahmon and Berdymuhamedov had committed to the establishment of B5+1 in order to “accelerate regional cooperation and connectivity [and]… advance efforts to create a more favorable business environment for U.S. private sector trade and investment in Central Asia.” The B5+1 event will be divided into two thematic days: “Looking within Central Asia” on Thursday 14 March, where representatives of the US Department of State, Kazakhstan’s Ministry of National Economy, the Caspian Policy Center and others will present their visions for improving Central Asia’s investment climate and economic integration; and “Central Asia’s place in the world economy” on Friday 15 March, where leaders from the US-Kazakhstan Business Council, the American-Uzbekistan Chamber of Commerce, the European Bank for Reconstruction and Development (EBRD) and others will look outwards, to give an international perspective on how the region can grow its trade and investment volumes. At a time of geopolitical upheaval and disruption of existing supply chains, the Almaty forum will also continue the conversation on enhancing regional connectivity via the Trans-Caspian International Transport Route, also known as the Trans-Caspian Corridor. The B5+1 Forum forms part of CIPE’s program called “Improving the Business Environment in Central Asia” (IBECA). CIPE themselves are affiliated to the US Chamber of Commerce – the catalyst behind the B7 and B20 platforms – and receive funding from the US Department of State.  The establishment of B5+1 is closely aligned with commitments made during the September C5+1 Presidential Summit and outlined in a document called the New York Declaration to strengthen their economic relations, and improve the business environment for regional economic integration and investments. The upcoming Forum aims to deliver on two key commitments in the declaration. The Times of Central Asia will be in attendance at the B5+1 Forum on 14-15 March, and will be publishing insight and analysis from the event.

Japan and UN WFP Support Vulnerable Citizens in Kyrgyzstan

An agreement has been signed by Gulnara Baatyrova, Kyrgyzstan’s Minister of Labour, Social Security and Migration, Hideki Goda, Ambassador of Japan to Kyrgyzstan, and Kojiro Nakai, Country Director of the UN World Food Program (WFP) in the Kyrgyz Republic, to enhance self-sufficiency amongst Kyrgyzstan’s most vulnerable citizens. An allocation of $3.5 million will be invested in a basic infrastructure to provide import-dependent food products such as flour and vegetable oil, and improve skills in entrepreneurship and agriculture amongst low-income residents of Batken, Issyk-Kul, Jalal-Abad, Naryn, and Osh. Expressing her gratitude for aid pledged by the Government of Japan and the UN, Minister Baatyrova said: “This program is aimed at strengthening the food security of vulnerable groups and will boost the development of sustainable economic independence, thereby contributing to economic and social stability in the country. Supported by the Japanese government, existing enterprises for the production of apricot oil in the Batken region, and the processing of medicinal herbs in the Naryn region, have already created additional jobs.”

The C5+1 Concept: The Idea Behind This Week’s B5+1 Forum in Almaty

Recognizing that the Central Asia region could benefit more from initiatives in global security, business and trade if its countries strengthened their cooperation in key areas, the Center for International Private Enterprise (CIPE) created the ‘C5+1’ platform last year for just this purpose. The Center’s 5+1 group features the governments of the five Central Asian republics – Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan – plus the United States, whose State Department and international chambers of commerce are central to the platform’s work. An inaugural C5+1 Summit was held in September 2023, on the sidelines of the 78th session of the UN General Assembly in New York. At this high-level meeting, the presidents of each of the Central Asian nations joined US president Joe Biden in dialog on enhancing the region’s stability and prosperity through economic, energy, and security partnerships within the C5+1 framework.  Building on this start made by C5+1, CIPE is now launching the ‘B5+1’ format, focused on cooperation in the global business context. The inaugural B5+1 Forum will take place this week in Kazakhstan’s business capital of Almaty, and will include presentations and panel discussions with policy makers from the United States, Central Asia and several other countries. On 14 and 15 March leaders from the public sector will discuss Central Asia’s economic integration, international trade and investment alongside dozens of influential private companies.  The B5+1 Forum will pick up where the C5+1 Summit left off in exploring opportunities for American companies in Central Asia. This potential lies in key sectors such as critical minerals, renewable energy and manufacturing. The Almaty event will also continue the conversation on enhancing regional connectivity via the Trans-Caspian International Transport Route, also known as the Trans-Caspian Corridor. At a time of geopolitical upheaval and disruption of existing supply chains, international investment in this trade route is being sought through the Partnership for Global Infrastructure and Investment. The B5+1 Forum forms part of CIPE’s program called “Improving the Business Environment in Central Asia” (IBECA). CIPE themselves are affiliated to the US Chamber of Commerce – the catalyst behind the B7 and B20 platforms – and receive funding from the US Department of State.  The establishment of B5+1 is closely aligned with commitments made during the C5+1 Summit last September, and outlined in a document called the New York Declaration. The upcoming Forum aims to deliver on two key commitments in the declaration.   The Times of Central Asia will be in attendance at the B5+1 Forum on 14-15 March, and will be publishing insight and analysis from the event.

Kyrgyzstan Joins the International Maritime Organization (IMO) Despite Being a Landlocked Country

The Secretary General of the International Maritime Organization (IMO), Arsenio Dominguez announced its newest member state of Kyrgyzstan at a meeting on ship systems and equipment, according to the IMO's press service. Political scientists and economists in Kyrgyzstan note that, despite the fact that the country is landlocked, this is an important event for the economy in terms of access to world markets for export of domestic products. "If we join this organization, it means we start playing on the world market of transportation of people and goods by seas and oceans. Joining IMO opens the way for us to legally start our own merchant marine fleet," political scientist Denis Berdakov told the Times of Central Asia. An important point in Kyrgyzstan's IMO journey came in 2021, when Iranian authorities allocated Kyrgyzstan a place in the port of Bandar Abbas on the Persian Gulf, meaning that goods from Kyrgyzstan could be shipped to Europe by sea. "The main task now is access to the sea. We have already said that we have two priorities - investments and exports. And for exports, we need to first solve logistics issues. Now the volume of trade turnover with China is growing. In addition, if the China-Kyrgyzstan-Uzbekistan railroad starts functioning, we should become a hub for cargo transportation. To do this, we need to create conditions for logistics companies," Kyrgyz Economy Minister, Daniyar Amangeldiyev said earlier. For those same reasons, AD Ports Group from the UAE signed an agreement with the Kyrgyz Government two years ago on the allocation of 300,000 square meters in the free economic zone called KEZAD (Khalifa Economic Zone Abu Dhabi) near Khalifa Port, which is the main seaport of Abu Dhabi.  The Kyrgyz Ministry of Economy said this will allow duty-free exports from these ports to third countries, and now it will do so using its own ships. Gulf countries now buy meat, honey, nuts and other products from Kyrgyzstan. Local businessmen have repeatedly said they are ready to increase exports, and, as noted by the Ministry of Economy & Commerce of Kyrgyzstan, the republic is ready to increase exports to the UAE and. To date, the Kyrgyz Republic trades mainly with Eurasian Economic Union (EAEU) countries, but the potential for geographic expansion is great, especially given the robust opportunities for the re-export of Chinese goods. Using a combination of transport modes and goods, the Kyrgyz authorities can revive the ancient Silk Road route from China to Europe. Against the backdrop of the beginning of construction of the China-Kyrgyzstan-Uzbekistan railroad, Bishkek is thinking about transit of its goods by rail to Turkmenistan's Caspian Sea ports and beyond those to the ports of Russia and Iran. Kyrgyzstan became the 176th country to join the IMO. The organization last accepted Botswana into its ranks in 2021. According to the IMO charter, membership in the maritime organization is open to all states subject to compliance with the provisions contained in the maritime convention.

US Policymakers and Central Asian Business Leaders Gather in Almaty for the CIPE B5+1 Forum

Cooperation and trade with Central Asia still holds much unrealized potential. The region is developing fast and offers opportunities for companies and agencies, both international and local. As the global geopolitical landscape changes and supply chains are disrupted, the importance of Central Asia as a business and transit hub, through initiatives such as the Trans-Caspian Corridor, is growing.  There are therefore great incentives for the five countries of the region – Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan – to find ways to function as a single integrated market, in order to capitalize on opportunities for foreign and local companies, and attract more international investment and business.  For this reason the Center for International Private Enterprise (CIPE) is inviting policymakers from Central Asia, the United States and other countries to its B5+1 Forum this week. On 14 and 15 March in Kazakhstan’s business capital of Almaty, leading minds from the public sector will discuss Central Asia’s economic integration, international trade and investment, alongside dozens of high-profile private companies.  An event on 14 March entitled “Looking within Central Asia” will introduce the objectives and expected outcomes of the B5+1 format. Presentations by representatives of Kazakhstan’s Ministry of National Economy, the Caspian Policy Center, the US Department of State and Kyrgyzstan’s Ministry of Economy and Commerce will give business-focused perspectives on improving economic integration and the investment climate.  The discussion on 15 March will center on the theme of “Central Asia’s place in the world economy”. Talks from representatives of the US-Kazakhstan Business Council, the American-Uzbekistan Chamber of Commerce and the European Bank for Reconstruction and Development (EBRD) will give an international perspective on promoting trade and investment flows in Central Asia. The B5+1 Forum forms part of CIPE’s program “Improving the Business Environment in Central Asia” (IBECA). CIPE themselves are affiliated to the US Chamber of Commerce – the catalyst behind the B7 and B20 platforms – and receive funding from the US Department of State.  The establishment of B5+1 is closely aligned with commitments outlined in a document called the New York Declaration to strengthen the republics' economic relations, and improve the business environment for regional economic integration and investments. The upcoming Forum aims to deliver on two key commitments in the declaration.   The Times of Central Asia will be in attendance at the B5+1 Forum on 14-15 March, and will be publishing insight and analysis from the event.

New Bonded Zone to Boost Kyrgyz Exports to China

The Ministry of Digital Development of the Kyrgyz Republic has announced the opening of a new bonded zone to boost the development of e-commerce and exportation of Kyrgyz goods to the Chinese market. The zone covers an area of 7,500 square meters on the Kyrgyzstan border between Kyrgyz Pochtasy (Kyrgyz Post) OJSC, Naryn’s free economic zone (FEZ), and Kashgar FEZ in China’s western Xinjiang Uygur Autonomous Region. The opening of the new national pavilion ‘Made in Kyrgyzstan,’ a facility where Kyrgyz products are exhibited, stored, sold, and shipped both in e-commerce and offline modes, was attended by Akylbek Japarov, Chairman of the Cabinet of Ministers of Kyrgyzstan, on a visit to the zone early in March. The project provides 48 and 72-hour direct warehouse-to-warehouse services for cross-border trading logistics between China and Kyrgyzstan.