BRICS - The Times Of Central Asia

Viewing results 1 - 6 of 12

BRICS

Tokayev Meets U.S. Envoy Sergio Gor on Sidelines of BRICS Summit

India hosted the 18th BRICS summit in New Delhi on September 12–13. Kazakhstan and Uzbekistan are among the partner countries of this international grouping, which began meeting in 2006 and held its first summit in 2009. Uzbekistan was represented by a delegation headed by Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov. Kazakhstan’s delegation was led by President Kassym-Jomart Tokayev. On Saturday, September 12, the Kazakh president met on the sidelines of the summit with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Sergio Gor, the U.S. president’s special envoy for South and Central Asia. During his meeting with the crown prince, they discussed economic and investment cooperation. In 2025, the United Arab Emirates ranked among Kazakhstan’s four largest foreign investors. Foreign direct investment from the Emirates totaled $1.6 billion. In January–March 2026, bilateral trade between Kazakhstan and the UAE amounted to $45.8 million. Over the past 20 years, Emirati investment in Kazakhstan has exceeded $7 billion, including around $3 billion over the past two and a half years. That same day, President Tokayev met with Sergio Gor, the U.S. president’s special envoy for South and Central Asia. Gor delivered a personal message from President Donald Trump congratulating Tokayev ahead of the 35th anniversary of Kazakhstan’s independence. They discussed the development of the Kazakhstan-U.S. enhanced strategic partnership, including cooperation in artificial intelligence and digitalization. According to the official readout, they also discussed the Kazakh president’s planned participation in the G20 summit, scheduled to take place in Miami in December 2026. Tokayev said: “I am currently preparing to take part in the G20 Summit in Miami. I believe this will also be a good opportunity to discuss the issues on the bilateral agenda. We prefer not fine words, but tangible results and practical steps to advance our mutual cooperation.” Tokayev also reaffirmed his invitation for President Trump to visit Kazakhstan. Contacts between senior Central Asian and U.S. officials have intensified. The U.S. Embassy in Bishkek reported on September 2 that Gor had met with Tokayev and other regional leaders in Kyrgyzstan. In June, Gor met with Kazakhstan’s foreign minister. Also in June, Tokayev met with Ben Black, chief executive officer of the U.S. International Development Finance Corporation (DFC), as part of Astana’s efforts to expand economic cooperation with Washington and attract more strategic investment. On July 10, Tokayev spoke by phone with President Trump. Another meeting of the secretariat of the C5+1 framework for U.S.-Central Asia cooperation took place in Ashgabat on September 9. Gor serves as both the U.S. ambassador to India and the U.S. president’s special envoy for South and Central Asia. Also on Saturday, Tokayev had an informal meeting with Russian President Vladimir Putin in New Delhi, at the Russian leader’s residence during his visit to India. Reports suggested the meeting was unplanned. No details of their discussion were released. On Sunday, September 13, President Kassym-Jomart Tokayev delivered a speech at the plenary session of the BRICS Outreach Summit in New Delhi, focusing on the theme of "Strengthening Resilience, Innovation, Cooperation, and Stability." In his speech, Tokayev noted: “Last year, the volume of transit cargo transportation...

New Development Bank

Uzbekistan and BRICS New Development Bank Agree on $4.5 Billion Joint Project Portfolio

Uzbekistan’s President Shavkat Mirziyoyev has held talks with Dilma Rousseff, president of the New Development Bank (NDB), who arrived in Tashkent to take part in the Tashkent International Investment Forum. According to Uzbekistan’s presidential press service, Mirziyoyev and Rousseff discussed prospects for expanding cooperation with the NDB, including the implementation of agreements reached during previous negotiations. Rousseff praised Uzbekistan’s economic reforms and said the bank was ready to support the country’s priority socioeconomic development goals. The meeting also covered Uzbekistan’s recent accession to the NDB. Uzbekistan officially became the bank’s 10th shareholder in June 2026 and the first Central Asian country to join the institution. Mirziyoyev and Rousseff agreed to form a medium-term portfolio of joint projects in energy, water management, transport and engineering infrastructure, and support for the private and social sectors. NDB expert missions will help implement the initiatives. In May, Uzbekistan’s Ministry of Investment, Industry and Trade said a project portfolio worth $4.5 billion had been prepared for financing through the NDB. It includes projects in transport, energy, construction, and industry. In particular, the possibility of attracting funds for the construction of a nuclear power plant is under consideration. The meeting also covered the NDB’s participation in major regional transport and logistics projects, as well as Uzbekistan’s environmental transformation programs. The NDB was created by BRICS countries in 2014. It is one of the main financial institutions of the Global South. The bank holds an AA+ credit rating and is developing alternative financial mechanisms, including settlements in national currencies. According to the presidential press service, Uzbekistan’s accession to the NDB will help diversify sources of external financing and attract concessional investment for economic modernization.

BRICS

Uzbekistan Joins BRICS Bank, Strengthening Global Ties

Uzbekistan’s bid to join the New Development Bank (NDB), commonly known as the BRICS Bank, has been officially approved, marking a notable step for the country as it seeks to enhance its engagement within the global financial and economic framework. Established by Brazil, Russia, India, China, and South Africa, the NDB aims to finance sustainable development projects and offer alternatives to traditional Western-led financial institutions such as the IMF and the World Bank. Membership was also approved for Colombia, with applications from Ethiopia and Indonesia currently under review. A New Opportunity for Uzbekistan Uzbekistan's membership in the BRICS Bank provides a potential avenue to strengthening economic ties with major emerging markets. The country's strategic position in Central Asia and its natural resources present opportunities for investments in infrastructure, renewable energy, and agriculture, aligning with the bank’s priorities on sustainable development. Uzbekistan’s recent economic reforms aimed at liberalization and improved governance make the BRICS Bank a practical partner for securing diversified funding sources for large-scale initiatives. Role of the BRICS Bank and Implications The NDB focuses on funding projects in emerging economies to promote growth while reducing dependence on traditional Western lenders. Since its inception in 2014, the bank has supported initiatives in renewable energy, infrastructure, and technology. The inclusion of Uzbekistan indicates the NDB’s interest in expanding its reach beyond its founding members. Uzbekistan's entry into the BRICS Bank takes place in the context of shifts in the global economic landscape, as countries seek new financial partnerships. For Uzbekistan, this step aligns with its foreign policy approach of maintaining balanced ties with global powers while engaging with the West, the Middle East, and neighboring countries. China, a driving force within the NDB and the Belt and Road Initiative (BRI), sees Uzbekistan’s strategic location as beneficial for advancing regional trade and connectivity, while Russia could view the membership as a positive development for maintaining close regional ties while navigating geopolitical challenges. Shared Priorities For the NDB, Uzbekistan offers a gateway to further investments in Central Asia, aligning with its mission to support emerging markets. For Uzbekistan, meanwhile, membership represents a significant development in its integration into international financial networks, potentially opening up opportunities for sustainable development projects that could contribute to the country’s economic growth and strengthen its global standing. The BRICS summit in 2025 will be held in Rio de Janeiro on July 6 and 7.

BRICS

Kazakhstan to Become a BRICS Partner on January 1, 2025

Kazakhstan will officially join BRICS as a partner state on January 1, 2025, according to Yuri Ushakov, an assistant to Russian President Vladimir Putin. Ushakov stated that Russia has received confirmation from several countries expressing readiness to become BRICS partners. “One of the important results of the BRICS summit in Kazan was the establishment of the category of BRICS partner countries and agreement on a list of 13 states. Appropriate invitations were sent to these states. Confirmations of readiness to become a BRICS partner state have been received from Belarus, Bolivia, Indonesia, Kazakhstan, Cuba, Malaysia, Thailand, Uganda, and Uzbekistan,” Ushakov announced. Kazakhstan’s Position on BRICS Partnership Kazakhstan’s Ministry of Foreign Affairs has confirmed the country’s status as a BRICS partner state, effective from January 1, 2025. However, the press secretary to Kazakh President Kassym-Jomart Tokayev, Berik Uali, previously stated that the country does not plan to seek full BRICS membership in the foreseeable future. Uali cited the multi-stage application process and considerations regarding the association's development prospects as reasons for this decision. BRICS, comprising Brazil, Russia, India, China, and South Africa, aims to promote economic, political, and cultural cooperation among member states. As a partner, Kazakhstan will engage with BRICS without taking on the obligations or privileges of full membership. This development marks a significant step in Kazakhstan’s international engagement strategy while reflecting its cautious approach to deeper involvement in the bloc.

BRICS

Kazakhstan’s Strategic Stand: Navigating BRICS Amidst Geopolitical Tensions

In recent days, BRICS - an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the UAE - has become one of the most critical topics on the Eurasian region's information agenda. Russian propaganda has presented the BRICS summit, which is taking place in Kazan, as a global event. However, the press secretary of Kazakhstan's president, Kassym-Jomart Tokayev, has stated that the republic has no plans to apply for BRICS membership in the foreseeable future, which has caused an adverse reaction in the Russian media, and led to a seemingly retaliatory Russian ban on Kazakhstan's agro-products. The Kazakhstani side, represented by the expert community, has tried to explain that its reasoning is based not only on Astana's national interest, but also on its obligations to its partners in Central Asia. Perhaps the most convincing argument is that the C5+1 mechanism is effective as a format for the region's interactions with the outside world. Therefore, it is not worth breaking this mechanism. No Central Asian country besides Kazakhstan has been invited to join BRICS, but Astana cannot afford to damage the established alliance by creating the conditions for distrust from its neighbors; Central Asia has already gone through a period of distrust. At the same time, rejecting the idea of joining BRICS, where India, Russia, Brazil and China are the founding members, does not unduly affect Kazakhstan's interactions with these powers. Kazakhstan works with China and Russia within the framework of the SCO (Shanghai Cooperation Organisation) and EAEU (Eurasian Economic Union), and has signed multiple partnership and alliance agreements with Beijing and Moscow. In other words, the information hysteria that Kazakhstan will exit Russia's sphere tomorrow and join the "Global West" (a term used in the Russian media) has no basis in reality. At the same time, however, it is evident that most Central Asian countries are trying to distance themselves from Russia as much as possible, maintaining cooperation only along certain economic lines. Even banks in Kyrgyzstan, a republic maximally dependent on Moscow on several essential issues, have stopped working with Russian banks. The Kazakhstan Stock Exchange, meanwhile, recently announced the end of cooperation with the sanctioned Moscow Stock Exchange. Moreover, Rosselkhoznadzor's ban on imports of a wide range of agro-industrial products from Kazakhstan, if not a response to the refusal to join the BRICS, clearly hints that behind the scenes, economic relations between Astana and Moscow are not all that smooth. Another argument against joining BRICS was voiced not just within Kazakhstan, but also by Russian experts. Despite the organization's purportedly representative nature, which includes countries with a combined population of 3.5 billion people (45% of the Earth's population), the association has no structure. Russian analysts opposed to the Kremlin believe that BRICS is a club where one can come, sabre-rattle at the West, conclude bilateral agreements, and forget about everything until the next summit. No coordinating center monitors the implementation of any agreements reached. BRICS was conceived as an intercontinental organization, uniting similar economies in volume and GDP. Thus, it initially included Brazil, representing...

BRICS

Kazakhstan Decides to Abstain from Applying for BRICS Membership

Kazakhstan's presidential spokesman, Berik Uali, announced that Kazakhstan plans to refrain from applying for membership in the international association BRICS. According to him, despite Kazakhstan's proposals, the decision to join BRICS remains under consideration. Specialists are analyzing prospects with a focus on the country's national interests. Uali also noted that President Tokayev will participate as a guest in the BRICS Summit, scheduled to take place October 23-24 in Kazan. He will speak at the organization's extended outreach meeting on October 24. At the same time, Kazakhstan will refrain from applying for BRICS membership. This is due to the multi-stage process of accepting new members and other aspects of the association's development. When asked about the priorities of Kazakhstan's diplomacy, Berik Uali noted that Tokayev emphasized the importance of the UN as a universal and irreplaceable international institution. Despite its shortcomings, he emphasized that the UN remains the sole platform for addressing crucial global issues. Tokayev also expressed the view that the UN Security Council should be reformed to consider the interests of the middle powers and to hold broad consultations among the organization's members. Established in June 2006, BRICS (Brazil, Russia, India, China, South Africa, UAE, Iran, Egypt, Ethiopia) aims to promote a multipolar world order. Azerbaijan and Belarus have already applied to join.