• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%

Iraq in Negotiation with Iran to Transfer Gas from Turkmenistan

Iraq Minister of Electricity Ziad Ali Fadel has announced ongoing negotiations regarding the transit of gas from Turkmenistan through Iran to Iraq and according to a report by Iran Oil Gas, Iraq may receive Turkmen gas as early as this summer if agreed by the partners concerned.

In November 2023, representatives of Turkmenistan and Iraq signed a protocol outlining the principal commercial terms of the agreement to enable the shipment of 9 billion cubic meters of Turkmen gas to Iraq through Iran within five years.

In January 2024 it was reported that Iraq had completed all the steps necessary to begin importing gas from Turkmenistan. The main reason for postponement of delivery as scheduled lies with the need for a comprehensive agreement to be reached with the transit country Iran.

With reference to the country’s gas debt with Iran, the Iraq Ministry of Energy stated, “The Ministry of Electric Energy has paid all gas payments to the Iranian side and deposited them in a special account in [an] Iraqi commercial bank. But the payment process has not been completed due to international sanctions. Now, based on the agreement between the two sides, Iranian gas is being replaced by Iraqi crude oil.”

Kazakhstan to Satisfy Italy’s Appetite for Horsemeat

The Kazakh Minister of Trade and Integration Arman Shakkaliev has announced plans by Kazakhstan and Italy to create a joint product brand ‘Made in Kazakhstan’.

The venture aims to address Italy’s growing demand for horsemeat; a commodity currently imported from other countries and reportedly valued at over $140 million worth per year.

In addition to chilled horsemeat, the minister reported that ‘Made in Kazakhstan’ would also supply Italy with locally sourced caviar and honey.

The initiative will benefit both countries. For Italy, it represents a fresh source of high-quality meat for the country’s economically significant restaurant sector, and for Kazakhstan, open up a new market which by promoting agricultural development, will contribute to economical growth, especially in rural communities.

Kazakhstan is currently a major supplier of horsemeat to countries such as Mongolia, Argentina and Uruguay.

Turkey to Step up Investment in Uzbekistan’s Production of Footwear

Turkish footwear manufacturers are ready to invest $1 million in the manufacture of leather, footwear and fur goods in Tashkent’s Ahangaran district.

Discussions between the head of Layki, a leader in the Turkish footwear and textile market, and Fakhriddin Boboevoy, chairman of the Uzcharmsanoat Association, focused on the company’s bid for land, the schedule and format of subsequent conferences, technological issues and the exchange of best practices.

Previous plans announced by the Uzcharmsanoat Association included the establishment of a leather and footwear production complex in the small industrial zone of Ahangaran comprising 26 projects with a total value of $30 million. The Turkish company Warboots, which has already committed $50 million to an enterprise to produce military footwear, has declared an interest in production at Ahangaran. Through an initial investment of $15 million, the enterprise will create 4,000 jobs for local residents.

Other Turkish companies are likewise, keen to set up operations in the Ahangaran zone. The Gratto brand is conducting a feasibilty study for a tannery which will export products to Italy and other Commonwealth of Independent States (CIS) countries, and the Uzbek company Magna Sport is in talks with Turkey’s Bursa Eldiven Sanayi to produce industrial gloves. The Turkish brand Myfit is liaising with Uzbek enterprises for the production of its licensed goods under an outsourcing system and preliminary agreements have been reached on the creation of product samples and the supply of raw materials. Uzbek industrialists, together with the Turkish company El Taban are due to begin production of next-generation shoe soles, with the initial cost of the project set at $2.1 million.

Given the country’s wide availability of raw materials, inexpensive labour and easy access to global markets, players in South Korea, Italy, Russia, China and Germany are also actively interested in embarking on joint projects with Uzbekistan’s leather industry.

Uzbekistan’s Gold, Hard Currency Reserves Down by $2.4 Billion in 2024

As of March 1, 2024, the official reserve assets of Uzbekistan amounted to $32.19 billion, having decreased by $2.37 billion in January and February, according to data from the central bank.

The regulator indicated that foreign-currency reserves dropped by $381.5 million in February and by $1.44 billion in January, with the combined decline of $1.82 billion reducing the remaining total to $7.55 billion.

The price of gold dropped to $2,066 per ounce from $2,076 in January — and to $2,059 by the end of February. However, in March, the price has set new records and is closing in on $2,200 per ounce.

At the end of 2023, Uzbekistan’s so-called financial cushion was $34.56 billion, down $1.2 billion from the previous year. That was the first year-over-year decline in reserves since 2018. Over the course of the year, the physical volume of the country’s gold reserves dropped by nearly 25 tons.

Russia to Allocate Over $23 Million for Remediation of Uranium Tailings in Kyrgyzstan

Kyrgyz members of parliament have approved an agreement between Kyrgyzstan and Russia on funds for the remediation of sites contaminated with uranium tailings. The ratification corresponds to a previous deal by the Kyrgyz government and Russian state company Rosatom under the framework of a Commonwealth of Independent States (CIS) program to rehabilitate territories affected by uranium production.
Kyrgyz Deputy Emergency Situations Minister Azamat Mambetov, speaking at the session of the Kyrgyz parliament, described the details of the agreement with Russia regarding the uranium tailings ponds.

“At our request, the Russian Federation will allocate an additional 2.141 million rubles ($23.1 million). According to the draft agreement submitted for approval, these funds will be used for work and delivery of equipment, [and] they are exempt from taxes. Five facilities in Kyrgyzstan will be rehabilitated,” Mambetov said.

According to the deputy minister, these are three tailing dumps left over from uranium mining in western Kyrgyzstan, and two tailing dumps in the south of the country. According to some sources, the first Soviet atomic bomb was filled with uranium mined in the south of Kyrgyzstan in the Batken region.

It should be noted that the tailings dumps in Chatkal district (western Kyrgyzstan) currently threaten the ecology of not only Kyrgyzstan, but also of neighboring Uzbekistan. The Chatkal River, which flows near the tailings dams, is a transboundary river that flows into one of Uzbekistan’s reservoirs — and from which Tashkent and the Tashkent region draw their drinking water.
Mr. Mambetov said that today the reclamation of uranium tailings sites in southern Issyk-Kul region and in Naryn region is almost completed. When the interstate program for reclamation of territories was drawn up in 2013, these tailings were considered the most problematic. According to Rosatom, 450,000 cubic meters of radioactive waste were concentrated in the Naryn region when work began. The work there is complicated by the fact that there is the risk of landslides in the area of the tailing dump. However, Russian specialists promise to fully complete the reclamation process by August 2024.

The volume of accumulated radioactive waste in the Issyk-Kul region is 150 thousand cubic meters. Uranium mining there was conducted from 1952 to 1966. After the mining was completed, the surface of the site was covered with a special layer of soil. But over time, the ground has been eroded by surface waters and the site began to pose a threat to the local environment once again. The works there should also be completed this year. Recall that Lake Issyk-Kul, located just a few hundred meters from the facility, is Kyrgyzstan’s main tourist attraction.

According to the Kyrgyz Ministry of Emergency Situations, there are 92 burial sites of toxic and radioactive substances in the country. Of these, 23 tailings sites contain uranium elements, while the remaining ones contain radioactive rock residues, heavy metals and cyanide. The total volume of poisonous and hazardous substances is 2.9 million cubic meters.

As reported by Rosatom, there are currently more than 40 large legacy nuclear sites dating back to the Soviet era in the states that are parties to the reclamation agreement — which include Kyrgyzstan, Kazakhstan, Tajikistan and Russia.

Artificial Intelligence to Monitor Kyrgyzstan’s Glacial Lakes to Prevent Outburst Flooding

In Kyrgyzstan, an innovative IT module will monitor for glacial lake outburst floods (GLOFs) and provide early warnings about their outbursts to prevent natural disasters, according to the United Nations Development Program (UNDP).

The new IT module with artificial intelligence (AI) was shown to Kyrgyz officials as part of a program titled “Reducing Risks and Vulnerability From Glacial Lake Outburst Floods in Kyrgyzstan by Strengthening the National Disaster Monitoring System and Community Adaptive Capacity”. According to the UNDP, Kyrgyzstan faces the threat of more than 300 high-mountain lakes bursting — a threat fully attributed to climate change and permafrost degradation. International experts say the instability of natural dams and melting ice pose a risk to the population, infrastructure and the environment. The last serious flooding due to a breach of a high mountain glacial lake occurred in July 2022 in the mountains of the Issyk-Kul region.

“By harnessing the power of innovation and collaboration, we are paving the way for sustainable progress. Through proactive risk identification, assessment and vigilant monitoring, we are not only preventing crises, but also laying the foundation for economic prosperity and community resilience. The use of artificial intelligence in monitoring emergency forecasting not only marks an important milestone for Kyrgyzstan, but also sets a precedent for the entire Central Asian region,” said Alexandra Solovieva, the UNDP Resident Representative in Kyrgyzstan.

This innovative module, as the specialists emphasized, combines AI technology with the use of machine-learning processes to improve the accuracy of forecasts, and provides timely information to effectively reduce the risks of lake outbursts. The IT module calculates the surface area of the lake, assesses the state of the ice cover, makes an analysis, and assesses the risks of lake breakthrough — and in case of potential threats, warns the relevant government agencies.

“The unified system of integrated monitoring and forecasting of emergency situations is an invaluable tool to protect the life of the population and the environment. Expansion and addition of functionality on glacial lake monitoring with integration with satellite and meteorological data will ensure timely, accurate data collection, data analysis and disaster forecasting,” said Deputy Minister of Emergency Situations Edelbek Kulmatov.
At the presentation of the IT module in Bishkek, specialists also introduced the mobile application developed for it . With its help, Kyrgyz EMERCOM specialists will be able to monitor glacial lakes in real time and receive all the necessary data.

The IT module was purchased with the financial support of the Government of Japan through the UNDP.