• KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%

Viewing results 7 - 12 of 39

Turkmenistan and Italy Expand Transport Cooperation

A Turkmen delegation led by the Deputy Chairman of the Cabinet of Ministers, Minister of Foreign Affairs of Turkmenistan, Rashid Meredov visited Italy on March 20th for negotiations with the Deputy Prime Minister and Minister of Foreign Affairs of Italy Antonio Tajani. The foreign ministers discussed bilateral relations in political, diplomatic, trade, economic, cultural and humanitarian sectors. The Turkmen Foreign Minister also held talks with the Deputy Prime Minister, Minister of Infrastructure and Transport of Italy, Matteo Salvini and top representatives of the Italian transport sector. The parties discussed expanding cooperation in the field of railway and maritime transport, and signed a Memorandum of Cooperation between the ports of Turkmenbashy (Turkmenistan) and Naples (Italy).

Turkmenistan and EU Discuss New Projects

A roundtable discussion called Turkmenistan and the European Union: Towards a New Economic Partnership took place in Brussels, Belgium on Monday. The event featured business meetings between Turkmen representatives and members of EU business circles. Turkmenistan’s minister of foreign affairs, Rashid Meredov, held meetings with the leaders of the Walloon Export and Investment Agency, the Organization for Economic Cooperation and Development (OECD), and the vice-presidents of Picanol and Philips. The director of the country's Transport and Communications Agency Mammetkhan Chakiyev met with the management of Cargolux, Exagon Global BV, Royal IHC, and the Dredging, Environmental and Marine Engineering NV (DEME Group), in addition to executives from the Port of Antwerp. The parties talked about Turkmenistan's production of equipment logistics, digitalization, industrial technologies, and service centers. Discussions touched upon prospective projects and investment activities.

Turkmenistan Bans Iranian Colas and Face Creams

Authorities in Turkmenistan have introduced a number of new import restrictions, according to a report by correspondents from the Chronicles of Turkmenistan. At the request of Iran, the Bajgiran border crossing with Turkmenistan was closed from February 25 to March 11. The crossing is now operational, but imports of bottles of cola and hand and face cream from Iran are forbidden. Customs officials cited the discovery in February of multiple individuals smuggling drugs in cola and face cream bottles as justification for the import ban on those specific goods. Permits for commercial border crossings are granted for six months at a time, and certificates and other paperwork have to be compiled by those who wish to extend their permits. These are now only accepted on one working day per month, as opposed to previously being accepted on any working day. The one working day per month is also subject to change. On that one day, authorities will accept documents from up to 100 people. The prohibition on import of goods that are in high demand has already dealt a serious blow to cross-border merchants and traders -- even though many of them have valid permits to enter the neighboring country, and the prospects for getting new ones include a long, arduous process.

Optimism Meets Reality at the B5+1 Forum in Almaty

The inaugural B5+1 Forum, a conference dedicated to strengthening business between the five Central Asian republics and the United States, came to a close today in Almaty after a second well received day of panel discussions. The B5+1 Forum was created by the Center for International Private Enterprise (CIPE), which aims to use public-private partnerships to create a better environment for business and trade. The B5+1 platform brings international and local companies together with high-ranking government officials from all six countries, to learn about the difficulties that each side faces, and suggest new ways to attract partners and investment. Following an opening day focused on “Looking within Central Asia”, today’s speakers brought attention to “Central Asia’s place in the world economy”. The morning began with a keynote speech by Eurasian affairs expert S. Frederick Starr, who argued that because the five countries are now members of different trade blocs, the revival of the Central Asian Economic Union could break down their existing barriers to business and trade with the United States. During a morning session on international partnerships, foreign experts brainstormed ways to speed up the Central Asia region’s economic integration with the rest of the world. To an audience of business leaders whose overall mood was optimistic, the EU’s ambassador to Kazakhstan Kestutis Jankauskas and World Bank economist David Knight brought a dose of realism, by explaining that business in Central Asia is not performing as well as in other emerging regions. This, they both said, is because the governments – and business owners – have mostly still not let go of self-defeating ways of approaching markets and investment. The middle session went into more detail about the investment landscape, particularly in terms of IT and fintech. Jennifer Miel, executive director for Kazakhstan for the US Chamber of Commerce, mentioned that all five Central Asian countries have seen healthy increases in foreign direct investment since 2021. This was soon tempered by Anatoly Motkin of the agency StrategEast, who said that to achieve further sustainable growth, the region must unify its legislation and best practices, so that foreign investors can treat it as a single market as much as possible. The Forum’s closing session explored the role of business associations in public-private dialogue. The panel was moderated by Eric Hontz, CIPE’s director for accountable investments, and featured the executive directors of the US Chambers of Commerce in Kyrgyzstan, Tajikistan and Uzbekistan – Aisuluu Sydygalieva, Nilufar Bulbulshoeva and Tatyana Bystrushkina. Discussion centered on best practices and solutions for effective member representation. 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. Early indications are that the B5+1 Forum in 2025 will be held in Bishkek, Kyrgyzstan.

Turkmenistan May Supply Gas, Electricity to Kazakhstan, Azerbaijan and Turkey

Former President of Turkmenistan, Gurbanguly Berdimuhamedov said in his speech at the 15th meeting of the Council of Elders of the Organization of Turkic States (OTS) in Ashgabat that the country may start exporting gas to Kazakhstan, further stating that Turkmenistan has all the necessary resources to also supply Turkmen natural gas and electricity to Azerbaijan and Turkey. "We are ready to continue to assist the brotherly countries in ensuring energy security. Turkmenistan, which is one of the largest producers of energy resources, is ready to supply them to brotherly countries and increase the volume of such supplies," Berdimuhamedov said. Turkmenistan currently exports electricity to Uzbekistan and Kyrgyzstan, and has ambitious plans to send natural gas to the east with the cooperation of these two countries. Berdimuhamedov said that Turkmenistan considers it necessary to create an effective, reliable and self-sufficient model of partnership in the unstable world energy markets in order to meet the growing demand for electricity in neighboring countries. Currently, Turkmen gas is exported through three branches of the Turkmenistan-China gas pipeline, via Uzbekistan and Kazakhstan. The Republic sends 40 billion cubic meters of the fuel annually, and the capacity of the gas pipeline is 55 billion cubic meters. The spare capacity could be used to send Turkmen gas to China, Uzbekistan and Kazakhstan. In order to provide southern Kazakhstan with gas, the national company QazaqGaz, which is owned by the national welfare fund Samruk-Kazyna, has signed an agreement with Uzbekistan. Under the terms of the deal, Uzbek gas from western fields crosses Karakalpakstan to the southern region of Kazakhstan. Also, Kazakhstan pumps Uzbek gas to supply Tashkent with fuel. This agreement was extended until the end of 2025, following President Tokayev's recent visit to Uzbekistan. However, over this time period, Kazakhstan must find time to build the second branch of the Beineu-Bozoi-Shymkent gas pipeline, the capacity of which will be 15 billion cubic meters per year. QazaqGaz is the largest supplier of natural gas in Kazakhstan. The national company often notes an increase in domestic consumption of natural gas and a decrease in exports. By supplying gas at higher export prices to China, QazaqGaz subsidizes cheap fuel for the domestic market. Last year, the company's losses amounted to $391 million.

High-Profile Speakers Open B5+1 Forum in Almaty

The ‘B5+1’ platform – a group of countries comprising the five Central Asian republics and the United States – took an important step forward today, with the launch of the inaugural B5+1 Forum in Almaty.  Instrumental in the formation of the B5+1 group has been the Center for International Private Enterprise (CIPE), which aims to develop public-private partnerships in the Central Asia region. This new business platform has been created to help international and local companies to capitalize on opportunities in global business and trade – while assisting the six governments in attracting more direct foreign investment.  The theme of the opening day was “Looking within Central Asia”. It began with a panel discussion on boosting economic integration in the Central Asia region, drawing from the area's distinctive context, and successful examples like ASEAN and the EU. Recommendations, from panelists including Richard E. Hoagland of the Caspian Policy Center and Alisher Shaykhov from Uzbekistan’s National Venture Capital Fund, included integrating the region's value chain into the global economy, and promoting collaborative investment initiatives. The second panel offered perspectives from Central Asia’s business leaders. Panelists including B5+1 representatives Aziza Shuzheyeva (Kazakhstan, e-commerce) and Manusurjon Rasulev (Uzbekistan, agribusiness) gave insights into the region’s high-profile industries. Speakers advocated for policy synchronization in these sectors, as well as in tourism and trade, as a means to boost regional growth.  For the third panel, government officials voiced their support for enhancing public-private dialogue. Tajikistan was represented by its deputy minister for economy Ahliddin Nuriddinzoda; his counterpart Ainura Usenbekova spoke on behalf of Kyrgyzstan, and Turkmenistan’s minister of finance Serdar Jorayev also spoke at length. Their focus was on national reforms and regional integration. 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 B5+1 Forum continues tomorrow, Friday 15 March, with a thematic day dedicated to “Central Asia’s place in the world economy”.

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