• KGS/USD = 0.01149 0%
  • KZT/USD = 0.00189 0%
  • TJS/USD = 0.09117 -0.65%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00189 0%
  • TJS/USD = 0.09117 -0.65%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00189 0%
  • TJS/USD = 0.09117 -0.65%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00189 0%
  • TJS/USD = 0.09117 -0.65%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00189 0%
  • TJS/USD = 0.09117 -0.65%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00189 0%
  • TJS/USD = 0.09117 -0.65%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00189 0%
  • TJS/USD = 0.09117 -0.65%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00189 0%
  • TJS/USD = 0.09117 -0.65%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
03 January 2025

Viewing results 247 - 252 of 398

First Container Train on South Korea – China – Kazakhstan – Uzbekistan Route

On June 26, on the initiative of South Korea, China, Kazakhstan, and Uzbekistan railway administrations, and in cooperation with SJ Logistics Group, a ceremony was held at the Kazakh-Chinese logistics terminal in the port of Lianyungang, to launch the first container train from South Korea to Uzbekistan through China and Kazakhstan. The national railways company Kazakhstan Temir Zholy (KTZ), the subsidiary of which, KTZ Express, operates the route through Kazakhstan, reported that covering 7 thousand kilometres, the railway opens new avenues for economic interaction between the associated countries. Speaking at the ceremony, Deputy General Director for Commerce of KTZ Express Ulugbek Orazov, noted: “The launch of the pilot train demonstrates our common desire to develop joint multimodal transportation, which will certainly open up new horizons for trade and interaction in the region.” He continued by adding that the event marked an important step in the development of new opportunities to increase the transit potential of Kazakhstan as well as its establishment as a key transport hub in the international supply chain.    

The National Bank of Uzbekistan Places Bonds on the London Stock Exchange

JSC National Bank for Foreign Economic Activity of the Republic of Uzbekistan (Uznatsbank) has successfully placed bonds on the London Stock Exchange  in two tranches totalling $411 million :  $300 million maturing in 5 years, and 1.4 trillion UZS ($111 million) maturing in 3 years. Uznatsbank's placement of the bonds follows Uzbekistan's successful placement of sovereign bonds, totalling $1.5 billion in three currencies, in international financial markets on May 21. Funds raised by bonds on the London Stock Exchange will primarily be used to carry out directives, issued by the President of Uzbekistan at a meeting on May 20, to attract foreign investment by commercial banks. Monies will also be invested in critical projects across various economic sectors to stimulate the country's economic growth. Uznatsbank is one of the Uzbekistan's first commercial banks to place bonds in the national currency in the international financial market and as such, the transaction will serve as a benchmark for other commercial banks and enterprises of the country. The London Stock Exchange, founded in 1801, is one of world's  leading stock exchanges.

SCO Summit in Astana: Correspondents from China Global Television Network, Times of Central Asia Discuss Upcoming Meeting

National leaders and other dignitaries from over 20 countries will be in the Kazakh capital of Astana this week for the annual summit of the Shanghai Cooperation Organization (SCO). The Times of Central Asia will be covering the SCO Summit live on 3 and 4 July from the city’s Palace of Peace and Reconciliation. The SCO is a political, security and economic alliance in the wider Eurasia region. This year’s Summit host Kazakhstan was a founding member of the Organization in 2001, alongside China and Russia, and its Central Asian neighbors Kyrgyzstan, Tajikistan and Uzbekistan. The last time the Summit was held in Astana, in 2017, India and Pakistan became full members. There are currently nine full member states, four observer states, and 14 dialogue partners, covering half of the world’s population, and almost a third of global GDP. This year's Summit will have significant implications for regional and global affairs. It is likely to produce initiatives aimed at reducing trade barriers, and promoting investments between SCO member states. High on the agenda will be the Belt and Road Initiative (BRI) – a crucial framework for enhancing connectivity and economic ties between China and its Central Asian partners. Other anticipated outcomes include new initiatives on climate change and sustainable development, as well as strengthened cultural and educational exchanges. Upon the initiative of Kazakhstan’s President Kassym-Jomart Tokayev, 2024 has been named the SCO “Year of Ecology”. Ahead of the Astana Summit, The Times of Central Asia’s senior editor Jonathan Campion spoke with an anchor from China Global Television Network, Mr Zhong Shi, about the role of the Shanghai Cooperation Organization plays in the Central Asia region. Their talk can be viewed in full in the videos below. In response to The Times of Central Asia’s question about what makes the SCO different from other alliances that the countries of Central Asia are aligned with, Mr Zhong explained that: “The SCO has been truly effective in combatting what we call the three enemies of all members, namely terrorism, extremism and separatism. There have been joint military drills conducted to enhance the coordination among armed forces”. Listen to Mr Zhong’s full response below: [video width="1920" height="1080" mp4="https://timesca.com/wp-content/uploads/2024/06/fullscreen-Zhong-Shi-answer-2-questions.mp4"][/video]   [video width="1920" height="1080" mp4="https://timesca.com/wp-content/uploads/2024/06/tw0-windows-Zhong-Shi-answer-2-questions.mp4"][/video] In turn, Mr Campion gave The Times of Central Asia’s perspective on the upcoming Summit. Asked about the impact that the Belt and Road Initiative has had on Central Asia, he replied: "Central Asia is evolving as a land bridge component to the Belt and Road Initiative linking China to the Caspian Sea. We’re seeing that investments in transport infrastructure are unlocking the region’s vast natural resources. With the world making a green transition, Kazakhstan stands out, as it has an abundance of critical materials – or green metals as they are known – that are used in the components of green technologies.” Listen to Mr Campion’s full response below: [video width="1920" height="1080" mp4="https://timesca.com/wp-content/uploads/2024/06/Jonathon-answer-Q2.mp4"][/video]   [video width="1920" height="1080" mp4="https://timesca.com/wp-content/uploads/2024/06/Jonathon-answer-Q3.mp4"][/video]  

Pakistan Can Become a Transport Hub for Central Asian Countries

The Prime Minister of Pakistan, Shahbaz Sharif has chosen Tajikistan for his first foreign visit after being re-elected as the head of government. On July 2, he will hold talks with Tajik President Emomali Rahmon in Dushanbe, before traveling with him to the SCO summit in Astana. The head of Tajikistan and Sharif are expected to discuss the implementation of agreements reached during Rahmon's visit to Pakistan two years ago. Pakistan's capital, Islamabad, is interested in speeding up the start of the CASA-1000 energy project and expanding cooperation in transport and security. In exchange, Tajikistan is seeking access to Pakistan’s ports of Karachi and Gwadar. In December 2022, Rahmon visited Islamabad, where eight documents were signed at the end of negotiations with Sharif. “The fact is that Tajikistan’s intelligence services have historically not had warm relations with Pakistan, whose intelligence services have supported various militant groups in Afghanistan. But times are changing. In addition, it should be noted that today, Pakistan is closely cooperating with China economically and politically in the same way that active cooperation between China and Dushanbe is taking place,” said Alexander Vorobyov, a researcher at the Institute of Oriental Studies of the Russian Academy of Sciences and head of the Center for Public Diplomacy and World Policy Analysis. According to Vorobyov, improving relations between Tajikistan and Uzbekistan, whose authorities are actively promoting a project to create the Trans-Afghan railway “Termez–Mazar-i–Sharif–Kabul—Peshawar,” will help improve Tajikistan’s transport connectivity with the outside world and offer the possibility of access to South Asia. The shortest route from Tajikistan to the sea passes through Afghanistan to Pakistan. It is approximately 2,720 kilometers from Dushanbe to Karachi or Gwadar, whilst it is 3,400 kilometers to the Iranian port of Bandar Abbas in the Strait of Hormuz. Tajikistan is separated from Pakistan by the Wakhan Corridor, a narrow strip of territory in the Badakhshan province of Afghanistan. This corridor is about 350 kilometers long. Experts believe that if Afghanistan's stability and security can be ensured, then Pakistan can become a transport hub for the countries of Central Asia. Pakistan's interest in Central Asian meanwhile, lies in energy resources, of which it is desperately short. To access them, the Pakistani government is promoting several major transit projects in the region that will open access to global markets and trade opportunities for the region's countries. However, as Hina Rabbani Khar, who served as Pakistan's deputy foreign minister in February 2023, said, the situation in Afghanistan is preventing Pakistan from realizing its potential in relations with Central Asia. In particular, the Central Asia-South Asia-1000 (CASA-1000) project to transmit electricity from Tajikistan and Kyrgyzstan to Afghanistan and Pakistan still needs to be completed. The World Bank stopped financing the project after the Taliban came to power. Following an appeal by the project's participants, implementation of CASA-1000 was resumed in May 2024 with the financial support of the World Bank. In recent years, Tajikistan and Kyrgyzstan have required additional kilowatts, so the completion date of the construction still...

Development of Uzbekistan–Afghanistan–Pakistan Transport Corridor

On June 29, representatives of Pakistan's and Uzbekistan’s leading transport and forwarding companies, and First Deputy Chairman of the Board of JSC Russian Railways, Alexey Pavlov, participated in a Logistics Forum in Tashkent. As reported by the Uzbek Ministry of Transport, the agenda focused on creating favourable conditions for bilateral and transit cargo transportation through the multimodal transport corridor Uzbekistan – Afghanistan – Pakistan, eliminating barriers and strengthening mutually beneficial strategic cooperation. Members of the Commonwealth of Independent States (former Soviet republics) have a keen interest in redirecting cargo flows to the multimodal transport corridor Uzbekistan - Afghanistan - Pakistan. According to statistics, in 2023 the volume of cargo transportation along this corridor increased 1.5-fold compared to 2021. Speaking at the forum, First Deputy Minister of Transport of Uzbekistan Mamanbiy Omarov emphasized the importance of the Uzbekistan-Afghanistan-Pakistan corridor and mooted proposals for its further development. Recommendations included reducing fees levied on freight transport and establishing fees on a parity basis in the territory of each state; developing mechanisms for insuring cargo along the route and ensuring the safety of goods during transportation; digitalizing the cargo transportation process; and developing proposals to increase the capacity of the Salang Pass in Afghanistan, which is the “heart” of this transport corridor.  

Uzbekistan and Turkey to Develop Military and Technical Cooperation

On June 26, the President of Uzbekistan, Shavkat Mirziyoyev, received a delegation headed by the Minister of National Defense of Turkey, Yashar Guler, who was in Tashkent on a business visit, the President of Uzbekistan's press service has reported. Considering the agreements reached during Mirziyoyev's high-level visit to Ankara on June 5-6, urgent issues of deepening the comprehensive strategic partnership between Uzbekistan and Turkey were discussed. Prospects for developing military and military-technical cooperation, including strengthening close interdepartmental relations, organizing joint events, training military specialists, and other issues, were discussed. Special attention was paid to strengthening and coordinating cooperation in security and fighting terrorism, extremism, and radicalism. The delegations exchanged views on ensuring peace and stability in the region, including Afghanistan.