• KZT/USD = 0.00226
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00226
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00226
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00226
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00226
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00226
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00226
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
  • KZT/USD = 0.00226
  • TJS/USD = 0.10830
  • UZS/USD = 0.00009
  • TMT/USD = 0.29760
27 September 2026

Viewing results 1 - 6 of 88

Uzbekistan and Turkey Set $5 Billion Trade Target at Strategic Council Meeting in Ankara

At the invitation of Turkish President Recep Tayyip Erdoğan, President of Uzbekistan Shavkat Mirziyoyev paid an official visit to Turkey on January 29, marking a new phase in the deepening partnership between the two nations. The visit was centered around the fourth meeting of the High-Level Strategic Cooperation Council, co-chaired by the two leaders in Ankara. Discussions focused on strengthening the comprehensive strategic partnership between Uzbekistan and Turkey, with an emphasis on political dialogue, trade and economic cooperation, transport connectivity, and cultural and humanitarian exchanges. The two presidents also exchanged views on regional and global developments, underscoring the growing coordination between Tashkent and Ankara on international platforms. Both sides highlighted the steady growth in bilateral trade, the rising number of joint ventures, and increased direct flights between the two countries. Regular cultural exchanges and growing people-to-people contacts were cited as further evidence of the strengthening relationship. Key areas for future cooperation include joint projects in industry, agriculture, and social protection, as well as enhanced collaboration in defense, security, and combating cybercrime. The timing of the Strategic Council meeting was described as symbolic, taking place on the eve of Ramadan and ahead of the 30th anniversary of the Treaty on Eternal Friendship and Cooperation between Uzbekistan and Turkey. The two sides expressed satisfaction with the growing political dialogue and the convergence of their positions on many international issues. The presidents reaffirmed their commitment to mutual support in international and regional organizations, including the United Nations, the Organization of Turkic States, the Organization of Islamic Cooperation, and the Economic Cooperation Organization. Inter-parliamentary cooperation has also intensified, particularly through parliamentary friendship groups. The leaders set an ambitious goal to increase bilateral trade turnover to $5 billion in the coming years. Expanding the list of goods covered under the Preferential Trade Agreement will be a key step toward achieving that target. Ahead of the visit, new priority areas for industrial cooperation were identified and will be implemented under a separate program. Significant potential was noted for interregional cooperation, with delegations from all regions of Uzbekistan expected to visit Türkiye by the end of the year to develop joint projects. Cooperation will also be deepened in agriculture, horticulture, healthcare, and medical tourism. The two countries agreed to intensify cultural and tourism ties through joint initiatives such as theater festivals, cultural weeks, historical film productions, and heritage restoration projects. In the education sector, the fourth Rectors’ Forum will be held in Bukhara this spring. Following the Strategic Council meeting, Mirziyoyev and Erdoğan signed a Joint Statement and adopted a framework for cooperation within the comprehensive strategic partnership. A wide-ranging package of bilateral agreements was also signed, covering healthcare, education, military medicine, economic and financial cooperation, mining, transport corridors, special economic zones, nuclear safety, migration, religious affairs, foreign ministry cooperation for 2026-2027, light industry, and cultural collaboration. At the conclusion of the visit, Mirziyoyev extended an official invitation to Erdoğan to visit Uzbekistan, reflecting the continued momentum and growing trust in bilateral relations.

Kazakhstan and Iran Discuss Trade on Pezeshkian’s Visit to Astana

Kazakhstan and Iran have announced plans to significantly deepen economic cooperation, aiming to triple bilateral trade turnover to $1 billion in the coming years. The announcement was made by Kazakh President Kassym-Jomart Tokayev during the Kazakh-Iranian business forum, held as part of the official visit of Iranian President Masoud Pezeshkian to Astana. According to Tokayev, mutual trade exceeded $340 million last year and is expected to “increase many times over” in 2024. The two countries have set an initial target of reaching $1 billion in trade, with an eventual goal of $2 billion, relying on expanded logistics and the establishment of sustainable supply chains. A key mechanism will be the opening of the Kazakhstan Trade House in Tehran, intended to facilitate systematic exports of Kazakhstani products. Over the past two decades, Iran has invested more than $226 million in Kazakhstan’s economy, and more than 350 Iranian companies currently operate in the country. Tokayev emphasized Kazakhstan’s readiness to initiate new joint projects across sectors ranging from industry to agribusiness. Strengthening corridors and access to the Persian Gulf Tokayev highlighted the development of transport and logistics infrastructure as a primary enabler of increased trade. Kazakhstan, he noted, is a vital transit hub in Eurasia, with 85% of cargo between China and Europe passing through its territory. Astana plans to construct a transport and logistics terminal at the port of Shahid Rajai, linking Kazakhstan’s ports of Aktau and Kuryk with the Iranian ports of Amirabad and Anzali. The Kazakh side also expressed readiness to integrate the ports of Bandar Abbas and Chabahar into the regional supply chain. The Kazakhstan-Turkmenistan-Iran railway plays a central role in these plans. Traffic volumes along this corridor are expected to double by 2030, delivering a substantial boost to regional trade and industrial development. Key market for Kazakh grain Iran remains a key buyer of Kazakh grain. In the first 10 months of 2024 alone, exports reached $280 million. Total agricultural trade between the two countries stood at $220 million in 2023, underscoring the sector’s growth potential. Iran’s Solico Group plans to build a dairy plant with an annual capacity of 200,000 tons and launch baby food production. Meanwhile, Kourosh Food Industry is exploring opportunities to establish vegetable oil plants and poultry farms. Kazakhstan, in turn, is inviting Iranian investors to participate in modern manufacturing projects and develop export-oriented supply chains. A shared challenge: the declining Caspian Sea The environmental situation in the Caspian region was another key topic of discussion. Falling sea levels are already affecting port operations, logistics, and fish stocks. Tokayev called for the creation of an intergovernmental program to preserve the Caspian Sea and urged greater involvement from international organizations. Kazakhstan intends to take part in the upcoming VII Caspian Summit in Tehran and has proposed hosting the IV Caspian Economic Forum within the next two years. Pezeshkian noted that the private sector has already identified promising areas for collaboration from the creation of a joint shipping consortium on the Caspian to the development of...

Central Asian Leaders Welcome Azerbaijan’s Accession at Tashkent Summit

The leaders of Central Asia convened in Tashkent on November 16 for a high-level Consultative Meeting, marking a significant step toward deeper regional integration. The summit welcomed Azerbaijan as a full participant and endorsed a roadmap to formalize cooperation in trade, infrastructure, security, and water management. Hosted by Uzbekistan’s President Shavkat Mirziyoyev, the summit brought together the presidents of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Azerbaijan, alongside a United Nations representative. Ahead of the meeting, Tashkent’s central streets were adorned with national flags and floral installations, underscoring the political and symbolic significance the Uzbek government placed on the event. Mirziyoyev hailed Azerbaijan’s accession as “a truly historic day,” as the country became a full member of the Consultative Meeting of the Heads of State of Central Asia. He proposed forming a “Community of Central Asia,” establishing a rotating Secretariat, appointing special presidential envoys for coordination, and creating a Council of Elders to promote cultural and humanitarian dialogue. [caption id="attachment_39410" align="aligncenter" width="1280"] Image: president.uz[/caption] Regional Economic and Connectivity Agenda Economic cooperation dominated the multilateral agenda. Leaders agreed to develop a Comprehensive Regional Program for Trade and Economic Cooperation through 2035 and to draft a Declaration on a Common Investment Space. “In essence, we will build a strong bridge between Central Asia and the South Caucasus and pave the way for the formation of a single space of cooperation, which will undoubtedly strengthen the strategic interconnectedness and stability of both regions,” said Mirziyoyev. Kazakhstan’s President Kassym-Jomart Tokayev also highlighted deepening bilateral ties with Uzbekistan. Trade between the two countries has reached $4 billion in 2025, with plans to increase it to $10 billion through expanded industrial cooperation and import substitution. Over 6,500 joint enterprises now operate between the two countries, with new projects worth more than $8 billion under development. Several initiatives, such as the Silkway Central Asia logistics center, new industrial facilities, and cultural programs, were launched in Tashkent during the visit. [caption id="attachment_39411" align="aligncenter" width="1280"] Image: president.uz[/caption] Tajikistan’s President Emomali Rahmon met with Mirziyoyev on the sidelines of the summit. The two leaders noted the steady growth in political dialogue and agreed to expand cooperation in energy, industry, agriculture, and innovation. Bilateral trade surpassed $440 million in the first nine months of 2025. They also discussed regional security, including collaboration against terrorism, extremism, cybercrime, and drug trafficking. Security, Water, and Cultural Cooperation To advance regional integration, Tashkent also hosted the first meeting of the Council of Ministers of Trade and Investment of Central Asian countries and Azerbaijan on November 13. Ministers discussed boosting trade, investment, and industrial cooperation, with the goal of increasing regional trade turnover to $20 billion. Plans were also made to develop joint production platforms under a “Made in Central Asia” label. Uzbekistan’s trade with Central Asian partners rose from $3.2 billion in 2017 to $6.9 billion in 2024, while trade with Azerbaijan has grown by 13% this year. Connectivity remained a focal point. Participants reaffirmed their commitment to the China-Kyrgyzstan-Uzbekistan railway and the Trans-Afghan corridor. Azerbaijan’s President...

Kazakhstan and Kyrgyzstan Aim to Boost Trade to $3 Billion by 2030

Kazakhstan and Kyrgyzstan have reaffirmed their commitment to increasing bilateral trade to $3 billion annually by 2030. This objective was emphasized during the 13th meeting of the Kazakh-Kyrgyz Intergovernmental Council, held on November 13 in Astana and co-chaired by Kazakhstan’s Prime Minister Olzhas Bektenov and Adylbek Kasymaliev, Chairman of the Cabinet of Ministers of Kyrgyzstan. The meeting covered a broad spectrum of cooperation, including trade, investment, water and energy management, as well as cultural and humanitarian initiatives. Kasymaliev highlighted recent progress, noting that bilateral trade reached $1.7 billion in the first nine months of 2025, a 15% increase compared to the same period in 2024. Direct investment from Kazakhstan to Kyrgyzstan totaled nearly $64 million in the first half of 2025. “This demonstrates the Kazakh business community’s trust in Kyrgyzstan and the broad opportunities for new projects,” said Kasymaliev. Key Infrastructure Projects and Trade Hubs The Council identified priority areas to strengthen cooperation. Chief among them is the construction of an industrial, trade, and logistics complex near the Karasu and Ak-Tilek road checkpoints at the border. This facility is expected to become a major regional hub for cargo consolidation, processing, and distribution, advancing industrial integration between the two economies. Another key project is the establishment of a wholesale storage and distribution center for fruits and vegetables in Kazakhstan’s Almaty region. This facility aims to secure uninterrupted agricultural trade between the two countries. Bilateral trade in agricultural products surged by 42% in the first eight months of 2025, reaching $326 million. Over 80% of that trade volume comprised exports from Kazakhstan. Energy Cooperation and Border Infrastructure The sides also discussed potential supplies of Kazakh oil and motor fuel to Kyrgyzstan. The latter consumes about 1.6 million tons of motor fuel annually, with 93% imported from Russia. Fuel prices in Kyrgyzstan have climbed since mid-2025, driven by higher wholesale costs in Russia, linked to reduced refining capacity, damage from Ukrainian drone attacks, and sanctions-related difficulties in acquiring technological equipment. Kazakhstan and Kyrgyzstan stressed the need to complete the ongoing reconstruction of three key border checkpoints, Kichi-Kapka-Besagash, Ak-Tilek-Karasuu and Karkyra-Kegen-which are expected to significantly facilitate cross-border trade. Tourism and Cultural Cooperation The two countries are also prioritizing mountain tourism. Plans include reviving tourist routes to Khan Tengri Peak, a destination located on the border and shared by both states, offering mutual opportunities to boost tourism-related revenues.

Kazakhstan Strengthens Role as U.S. Key Trade Partner in Central Asia

Kazakhstan has emerged as the United States’ primary economic partner in Central Asia, accounting for the vast majority of regional exports to the U.S. and serving as the leading destination for American imports, according to Finprom.kz. While Central Asia’s share of total U.S. trade remains small, Kazakhstan’s role within the region is increasingly dominant. Kazakhstan Accounts for Over 96% of Central Asia’s U.S. Exports In 2024, Kazakhstan was responsible for 96.7% of Central Asia’s exports to the United States, totaling approximately $2.4 billion out of a regional total of $2.5 billion. Uzbekistan, the next largest exporter, contributed just $44.4 million. The trend is similar for U.S. goods entering the region. Kazakhstan imported $1.1 billion worth of U.S. goods in 2024, or 62.3% of all American exports to Central Asia. Uzbekistan followed with $380.8 million, while Turkmenistan and Tajikistan imported $82.2 million and $56.8 million, respectively. Despite this strong bilateral exchange, Central Asia remains a small player in U.S. global trade. In 2024, the U.S. recorded $3.27 trillion in goods imports and $2.06 trillion in exports, according to U.S. Census Bureau data. Even so, U.S.–Kazakhstan trade has grown meaningfully in recent years. Between 2019 and 2024, the U.S. share of Kazakhstan’s total trade rose from 2.3%  to around 3%. Bilateral trade peaked in 2024 at $4.2 billion, the highest level in six years, with U.S. exports to Kazakhstan accounting for 53.2% of the total. Trade Growth and 2025 Downturn That growth slowed sharply in 2025. From January to August, total trade between the two countries fell to $2.1 billion, a 25.8% drop compared to the same period in 2024. Kazakhstan’s exports to the U.S. accounted for much of the decline, falling to $749.7 million in the first nine months of the year - about half the level recorded the previous year. Oil and oil products saw the steepest drop, falling 3.5 times to $269.1 million. Exports of uranium, silver, ferroalloys, tantalum, and titanium also declined, though these remain important categories. By contrast, U.S. exports to Kazakhstan remained relatively stable. Goods shipments fell just 4.8% year-on-year, totaling approximately $1.7 billion from January through September. U.S. exports to Kazakhstan continue to consist primarily of high-value manufactured goods, including vehicles, aircraft, agricultural machinery, computers, telecommunications equipment, and medical devices. Pharmaceuticals stood out in 2025, with American shipments of medicines and vaccines more than doubling to $249.3 million in the first nine months of the year. Investment and Business Cooperation Deepen Alongside trade, investment, and business cooperation between the two countries is also deepening. According to the Kazakh Prime Minister’s office, more than 600 companies with U.S. capital were operating in the country as of late 2025 – a large increase over the previous year. The number of Kazakh-American joint ventures rose by 5.6% over the same period. U.S. companies are active in a range of sectors, including IT, manufacturing, education, consulting, and trade. While the United States is not among Kazakhstan’s top trading partners by volume, the relationship is seen as strategically important. Amid...

Aliyev, Tokayev Pledge Deeper Cooperation as Azerbaijan Lifts Armenia Transit Ban

Azerbaijan’s President Ilham Aliyev began a state visit to Kazakhstan on Monday with a series of high-level meetings and a significant policy shift: Baku is lifting all restrictions on the transit of goods to Armenia. The move, announced during joint talks with Kazakh President Kassym-Jomart Tokayev in Astana, is one of the most concrete regional gestures since the end of the Second Karabakh War. The visit began with an official welcoming ceremony at Akorda Presidential Palace in Astana, where Presidents Kassym-Jomart Tokayev and Ilham Aliyev reviewed an honor guard before holding bilateral talks and chairing the second meeting of the Kazakhstan–Azerbaijan Supreme Intergovernmental Council. Speaking at a joint press briefing after the meeting, Aliyev confirmed that, “All restrictions on the transit of goods from Azerbaijan to Armenia and from third countries to Armenia through Azerbaijan have been lifted.” While no formal agreement was signed on Monday, the announcement is being viewed as a confidence-building measure at a moment of cautious diplomacy in the South Caucasus. Tokayev welcomed the development and stressed the importance of expanding cooperation between Kazakhstan and Azerbaijan in key sectors such as transport and energy. Ties on a Strategic Track Aliyev’s visit comes as Kazakhstan and Azerbaijan are expanding cooperation in multiple areas, including rail, ports, digital infrastructure, and energy. Monday’s talks produced several new accords and project announcements, including commitments to expand freight flows along the Trans-Caspian International Transport Route (Middle Corridor) - a logistics network connecting China to Europe via Central Asia, the Caspian Sea, and the South Caucasus. Since Russia’s 2022 invasion of Ukraine upended established overland trade routes, the corridor’s importance has surged, with Astana and Baku positioning themselves as key actors in a reconfigured Eurasian logistics network that bypasses Russian territory. In his welcoming address, Tokayev framed Aliyev’s state visit as of “critically important significance for the further development of our strategic partnership.” Tokayev described the relationship as “allied in nature,” calling Azerbaijan “a regional power that has strengthened its authority on the international stage.” He emphasized that developing multifaceted cooperation “remains a priority” and highlighted trade, economic, and political partnership as key goals. “Azerbaijan is a special country for Kazakhstan, a fraternal state,” Tokayev stated. “We are united by common historical roots, a rich spiritual and cultural heritage, and, ultimately, a shared mentality and outlook on developments. On this unshakable foundation, we are successfully developing our multifaceted cooperation.” Aliyev, in turn, praised Kazakhstan’s ongoing political and economic reforms, saying his country “fully supports [Tokayev’s] course of modernization” and is aiming to “strengthen cooperation in all areas” In a related development, Azerbaijan’s state energy firm SOCAR and Kazakhstan’s sovereign wealth fund Samruk-Kazyna are expected to deepen their collaboration in upstream energy projects and petrochemical exports, though no new energy deals were signed on Monday. Transit Opening to Armenia: Why Now? Aliyev’s announcement on transit restrictions - made in Astana, not Baku - was notable not just for its content, but its timing and setting. Since the end of the 2020 Second Karabakh...