Tajikistan Business Economy - The Times Of Central Asia

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Economy Minister: 70% of Tajikistan’s Trade is With SCO Countries

The Pakistani capital of Islamabad has hosted the 23rd meeting of the Ministers of the Shanghai Cooperation Organization (SCO) Member States responsible for Foreign Economic and Trade Activities. The Minister of Economic Development and Trade of Tajikistan, Zavqi Zavqizoda, who participated in the meeting, said that the country considers the development of relations within the SCO as one of its foreign policy priorities. “Foreign trade turnover between Tajikistan and the SCO countries demonstrates steady growth, and every year, more than 70% of the republic’s foreign trade is with SCO countries,” Zavqizoda said. He recalled that the SCO accounts for almost half of the world’s population and 27% of global GDP, making the region a massive market with great opportunities. Zavqizoda noted that Tajikistan initiated the economic development strategy for the next five years with the SCO, which was developed and adopted by the organization's member states. He proposed to the participants a plan related to developing and implementing large infrastructure projects and expanding cooperation in digital and green economy, green energy, and e-commerce. It was also noted that wide use of transit opportunities of Tajikistan is envisaged. The Times of Central Asia has reported that Tajikistan seeks to become a central international transit hub. In the next two years, 317 kilometers of international highways will be commissioned in Tajikistan. In the remaining months of 2024, Tajikistan will continue implementing projects for highway reconstruction, with the construction of 32 bridges, five tunnels with a length of 11.2 km, and seven avalanche corridors aiming to turn the country into an international transit route.

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Tajikistan to Host First International Tourism Exhibition

To coincide with World Tourism Day, Tajikistan will host its first International Tourism Exhibition (DITE) in Dushanbe from September 25 to 27, 2024. Initiated by the city's head, Rustami Emomali, the key aims of the event are to promote the development of the tourism industry and the formation of a regional tourism market, and attract foreign investment. The exhibition will bring together Tajikistan's tourism companies as well as representatives of tourist industries in countries including Austria, Pakistan, Iran, Russia, Belarus, Turkey, China, Turkmenistan, Kazakhstan, Azerbaijan, Qatar, and Uzbekistan, and will be complemented by an International Tourism Forum and B2B meetings where new cooperation agreements will be signed. In addition, consulting sessions will provide opportunities for hotel businesses and guides to improve their levels of service and professionalism in the industry. As reported by the Committee for Tourism Development of Tajikistan to ASIA-Plus, 748.3 thousand foreigners, of which 91.9% were residents of CIS countries, visited Tajikistan within the first six months of this year. The number of tourists totaled 580.5 thousand, 422,614 of whom hailed from neighboring Uzbekistan, rose by 19.1% compared to the same period last year.

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Climate Crisis May Drastically Reduce Production in Central Asia

Central Asia may face serious economic losses due to climate change, which may reach a 6.5% annual decline in production by 2060. These figures were announced by Bo Li, Deputy Managing Director of the International Monetary Fund (IMF), at the “New Economic Challenges for Long-Term Development” forum. According to Bo, the Caucasus and Central Asia region is particularly vulnerable to climate change. Soaring temperatures and increasing frequency of droughts and floods are reducing crops, destroying infrastructure, and lowering living standards. “According to IMF estimates, if no action is taken to slow down climate change, Central Asia will lose up to 6.5% of its output annually by 2060,” Bo said. He noted that possible losses could be reduced with joint actions such as reducing carbon emissions, transitioning to a green economy, and adapting to changing climate conditions. As an example, Bo noted the efforts of Kyrgyzstan, that has already started to increase electricity tariffs and reduce energy subsidies, allowing the country to adapt to climate challenges and create new jobs in the “green” sector. Many Central Asian countries are taking steps to reform the energy sector and introduce “green” technologies. For example, Kazakhstan is actively cooperating with several countries to develop renewable energy and reform the energy sector. One key example is the partnership with the United States under the USAID Power Central Asia program. This initiative supports Kazakhstan and other Central Asian countries in modernizing energy markets, introducing clean energy, and encouraging private investment in renewable energy. Uzbekistan is undergoing a major reform of its energy system to reduce subsidies and promote renewable energy. The country plans to increase the share of renewable energy to 25% by 2030, which includes solar and wind energy projects. These measures will help Uzbekistan improve energy efficiency and reduce carbon dioxide emissions. In Tajikistan, USAID is implementing the Power Central Asia program, which supports energy cooperation in the region and encourages using renewable energy to help reduce dependence on fossil fuels and modernize energy systems.

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Central Asia Seeks Increase in Trade with China

On September 12, the Central Asia-Jiangsu Trade Center, a multifunctional platform showcasing exports from Kazakhstan, Uzbekistan, Tajikistan, and Turkmenistan, opened in Nanjing, the main city of Jiangsu Province in eastern China. According to the Kazakh Ministry of Trade and Integration, the operation of the Center in Jiangsu Province, known for its developed infrastructure, will facilitate access to the huge Chinese market for all five Central Asian countries. Plans are now in place to launch a similar multifunctional center in Kazakhstan’s capital, Astana, to showcase Chinese and Kazakh goods. Official statistics show continued growth of trade turnover between Kazakhstan and China. During the first seven months of this year, bilateral trade increased by 2.8% compared to the same period in 2023, and amounted to $16.8 billion. Between January and July 2024, trade between Kazakhstan and Jiangsu Province grew by over $1 billion, from $723.3 million to $1.758 billion. As reported by Kazakh Minister of Trade Arman Shakkaliyev, Jiangsu Province currently imports products, mainly from the industrial and agricultural sectors, worth more than $266 billion annually.

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Citizens of Tajikistan and Kyrgyzstan Warned Against Non-Essential Travel to Russia

Citizens of Tajikistan and Kyrgyzstan are warned against traveling to Russia, reportedly due to “additional security measures and enhanced border controls” imposed by the Russian government. On September 10, the Tajik embassy in Moscow advised Tajiks “to temporarily refrain from traveling to the Russian Federation unless necessary.” Similar advice was issued by Kyrgyzstan's Ministry of Foreign Affairs the same advice on September 5, in the statement: “In connection with the continuation of additional security measures introduced on the territory of Russia and the regime of enhanced control over the passage of foreign citizens across the state border, the Embassy of the Kyrgyz Republic in the Russian Federation recommends that citizens of the Kyrgyz Republic who do not have compelling reasons for entering the Russian Federation temporarily refrain from traveling to its territory until the above measures are lifted.” Given that remittances sent by Central Asian immigrants are the primary source of financial support for many families, the warning may have serious economic consequences for immigrants working in Russia. For context, this warning is one of many. After the Crocus City Hall terrorist attack, restrictions on the entry of Central Asians into Russia were announced several times. The issue of immigrants remains controversial in Russia. For example, a Russian diplomat recently proposed a temporary moratorium on Russian citizenship for Central Asians, whilst another deputy suggested that the government impose a ban on immigrants.

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Russia to Join Central Asia’s Unified Energy System

Russian Energy Minister Sergey Tsivilev has announced that the Russian and Uzbek energy ministries have agreed to connect the Russian “System Operator” to Central Asia's Unified Energy System (UES). The connection itself is expected to happen soon. Uzbekistan's Minister for Energy, Zhurabek Mirzamakhmudov, has commented that this move will ensure the security and stability of the energy system in the region. These measures are expected to allow prompt response to problems in energy supply and avoid interruptions. In addition, Inter RAO has announced that it is preparing to export electricity to Uzbekistan, with the start of supplies scheduled for this fall. Central Asia's Unified Energy System was created in the 1970s. It is managed by the coordination and dispatch center in Tashkent, and allows the balancing of seasonal fluctuations in demand for electricity and water needs during the irrigation period. It currently includes Uzbekistan, Kyrgyzstan, Kazakhstan and Turkmenistan. In May it became official that Tajikistan would join the system.