• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09694 0.62%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09694 0.62%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09694 0.62%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09694 0.62%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09694 0.62%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09694 0.62%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09694 0.62%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00194 -0%
  • TJS/USD = 0.09694 0.62%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28575 -0.14%
08 May 2025

Viewing results 367 - 372 of 552

Favorable Water Volumes Forecast for Uzbekistan’s Amu Darya and Syr Darya Rivers

 According to the news agency UzA, Uzbekistan's Minister of Water Management Shavkat Hamroyev told a parliamentary hearing that watersheds from the Amu Darya and Syr Darya rivers are forecast as favorable this year. The announcement was made in response to Muqaddas Tirkasheva, a member of the lower house of parliament, who inquired, "water limits are agreed with Central Asian countries every year. Today, when we meet with voters, they often refer to the water shortage. There are concerns about whether the construction of the Qosh Tepa canal will affect the water of Amu Darya. How does this year's forecast volume of water in the Amu Darya, Syr Darya, Zarafshan rivers  compare to previous years? What measures are being taken to ensure guaranteed water supply to economic sectors?” Minister Hamroyev continued, "there are agreements among five countries regarding water allocations. Our recent meeting in Shymkent addressed reservoir water levels. Due to this year's precipitation, it's anticipated that water levels in the Amu Darya and Syr Darya rivers will match last year's levels. Projections suggest 85–90% water in the Syr Darya and 90–95% in the Amu Darya compared to historical averages. Our reservoirs currently hold 1.5 billion cubic meters more water than last year."

Kazakhstan, Kyrgyzstan, and Uzbekistan Favor EEU Economic Integration

On May 8, Russian President Vladimir Putin, President of Belarus Alexander Lukashenko, President of Kazakhstan Kassym-Jomart Tokayev, President of Kyrgyzstan Sadyr Japarov, and Prime Minister of Armenia Nikol Pashinyan convened in Moscow for a meeting of the Supreme Eurasian Economic Council - the governing body of the Eurasian Economic Union (EEU). The event, which marked the tenth anniversary of the establishment of the Russian-led economic integration bloc, was also attended by heads of the EEU observer states, President of Cuba Miguel Diaz-Canel Bermudez and President of Uzbekistan Shavkat Mirziyoyev. In his address, Kazakhstan President Tokayev remarked that in the relatively short period since the Treaty on the Eurasian Economic Union was signed in Astana ten years ago, cooperation between the parties has contributed greatly to the development of Kazakhstan’s economy, and stated: “The correctness of the chosen vector of development of our association has been confirmed by the macroeconomic results of the past decade. Thus, Kazakhstan’s trade turnover with the EEU member countries has increased 1.7-fold and reached $28.5 billion.” Referencing the positive potential for EEU cooperation with rapidly developing countries in Asia, Africa, and the Middle East, he urged EEU member states to join the Ashgabat Agreement on the creation of an International Transport Corridor to engage with markets in the Persian Gulf. The Kazakh president also emphasized the need for improvements to trade links between Europe and Asia, North and South, and warned that unless renewed, the existing infrastructure in the Eurasian region will continue to deteriorate. Citing the modernization and expansion of transport and logistics infrastructure as a key priority, he stated, “In Kazakhstan, we plan to repair 11,000  and build over 5,000  kilometers of new railways by 2030. As part of the Belt and Road initiative, a Kazakh terminal, built in the Chinese city of Xi’an, accounts for up to 40% of all container traffic on the China-Europe route. There are also plans to launch 5 cross-border transport and logistics hubs on Kazakhstan’s borders with Russia, China, Uzbekistan, and Kyrgyzstan, and on the Caspian Sea.” Kyrgyz President Japarov announced that further development of Eurasian economic integration, including the creation of a single market for goods and services without barriers, a common energy market, and freedom of movement of labor resources, remains a priority for Kyrgyzstan. Regarding benefits afforded by Kyrgyzstan’s membership of the EEU, Japarov said that the country’s trade with EEU member states has grown by 76%, from $2.5 billion to $4.4 billion, its exports to EEU countries have tripled from $410 million to $1.23 billion, and its imports  increased by more than 50%, from $2 billion to $3 billion. Apart from gold, 80% of Kyrgyzstan’s exports go to the EEU countries. The Kyrgyz president also emphasized the importance of linking the EEU and the Chinese Belt and Road initiative. Despite the current observer status of his country and the EEU, Uzbek President Mirziyoyev reported that over the past three years, trade between Uzbekistan and the EEU has grown by 60 percent. Looking ahead, he announced, “Uzbekistan is interested in expanding practical partnership and...

Uzbekistan and Hungary Expand Economic Cooperation

On May 7, President of Uzbekistan Shavkat Mirziyoyev received the Minister of Foreign Affairs and Trade of Hungary, Peter Szijjártó at the 9th meeting of the Uzbek-Hungarian Intergovernmental Commission on Economic Cooperation in Taskent. Focus was placed on cooperation on projects in industry, pharmaceuticals, agriculture, fish farming, logistics, and real estate construction, with added emphasis on the importance of accelerating the launch of a special economic zone for projects conducted by Hungarian and European companies in the Tashkent region. Co-chaired by Peter Szijjártó and the Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov, the meeting also addressed the further development of cooperation in investment, industrial, trade and economic, banking, cultural and humanitarian sectors. It was stated that over the past 5 years, Uzbek-Hungarian trade turnover has doubled and in the first quarter of 2024 alone, bilateral trade grew six-fold compared to the same period in 2023. Measures to increase bilateral trade include the launch of “Meet Uzbekistan” programs to promote Uzbek products in Budapest’s large retail chains, as well as the organization of roadshows for Uzbek manufacturers in Hungary’s largest cities. Both sides stressed the importance of diversifying transport routes, liberalizing permits for bilateral and transit transportation, resuming direct flights between Tashkent and Budapest, and organizing a logistics hub for Uzbek products in Hungary. Note was made of Hungarian companies’ implementation of projects worth almost $500 million in Uzbekistan, and thanks expressed for Hungary’s provision of a state scholarship ‘Stipendium Hungaricum’ which enables some 300 Uzbek students to study at its universities.    

Saudi and Emirati Companies to Build Two Wind Farms in Uzbekistan

Saudi and Emirati companies are to invest $7 billion in the construction of two windfarms in the Kungrad district of Uzbekistan's autonomous Karakalpakstan republic. The announcement followed the signing of two contracts  during the third Tashkent Investment Forum. The commission of the facilities will save almost 7 billion cubic meters of natural gas and prevent the emission of more than 2 billion tons of harmful gases into the atmosphere. Welcoming the initiative, the Uzbek Energy Ministry said, "Saudi company ACWA Power is implementing a megaproject to build a wind farm with a total capacity of 5 gigawatts in the Kungrad district of Karakalpakstan. The project is estimated at $6.2 billion. The station will generate 17.5 billion kilowatt-hours of electricity per year. A wind power plant with a total capacity of 1 gigawatt and a cost of $1.1 billion will be built in the same area by Amea Power from the UAE. It will generate 3.5 billion kilowatt-hours of electricity a year," . During the third Tashkent International Investment Forum, agreements signed by several government and private-sector counterparties, totalled $26.6 billion .

Joint Portfolio of Uzbekistan and Saudi Arabia Projects Exceeds $30 Billion

On May 2, Uzbek President Shavkat Mirziyoyev welcomed representatives of several countries to the Tashkent International Investment Forum. In discussion with the Speaker of the Parliament of Singapore, Sia Kian Peng, the two sides focused on cooperation in personnel training, investment, tourism and public safety, and emphasized the importance of joint, effective parliamentary control over their bilateral high-level agreements. During negotiations between Mirziyoyev  and the Chairman of the Cabinet of Ministers of Kyrgyzstan Aqilbek Japarov, the two leaders  concentrated on deepening strategic partnership between Uzbekistan and Kyrgyzstan, expansion of cooperation in various trade sectors such as industrial, energy, transport and logistics, and  marshalling interregional relations and cultural-humanitarian exchange. Special attention was paid to practical issues relating to the Kambarata HPP-1 (hydropower plant) and China-Kyrgyzstan-Uzbekistan railway projects. A delegation led by Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia, used the opportunity to discuss the further expansion of practical cooperation, and the implementation of priority investment projects in Uzbekistan. The high level of bilateral trade and investment partnerships already achieved was noted. The portfolio of joint projects currently exceeds $30 billion, with Saudi Arabia's ACWA serving as a keen investor in Uzbek wind power generation. According to data provided by the Uzbek Government, agreements to implement projects worth $18 billion in the fields of green energy, infrastructure, healthcare and pharmaceuticals are set to be signed within the framework of the Tashkent International Investment Forum.

Turkmenistan Ousts Uzbekistan from Tajikistan’s Market for Greenhouse Tomatoes

Turkmenistan has completely overtaken Uzbekistan in the market for greenhouse tomatoes in Tajikistan, according to a report by the EastFruit agricultural news portal. Analysis revealed that Turkmen tomatoes are winning due to competitive pricing and also, their attractive appearance and modern packaging. Despite problems related to the cultivation of tomatoes grown  in Tajikistan's greenhouses  this season, the price has remained at a record low for this time of the year. The average wholesale price for one kg is  currently just $1.46 -- and further price reductions are expected in the near future, notes EastFruit. In Tajikistan, which currently imports the majority of greenhouse tomatoes it consumes, the wholesale price is significantly lower ($1.9 per kg) than in Uzbekistan, which is still the main regional exporter. The EastFruit portal notes that today, greenhouse tomato prices in Central Asian countries are not much lower than  in Eastern European countries. It also reports that further development of energy-efficient greenhouse technologies will allow countries with colder climates to remain relatively highly competitive  and moreover,  local consumers are generally willing to pay more for the fresh taste of greenhouse-grown vegetables.