• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00207 0%
  • TJS/USD = 0.10429 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00207 0%
  • TJS/USD = 0.10429 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00207 0%
  • TJS/USD = 0.10429 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00207 0%
  • TJS/USD = 0.10429 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00207 0%
  • TJS/USD = 0.10429 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00207 0%
  • TJS/USD = 0.10429 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00207 0%
  • TJS/USD = 0.10429 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00207 0%
  • TJS/USD = 0.10429 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 0%

Viewing results 1 - 6 of 4

From Eurasia to Greater Central Asia: A Region Reclaims Its Voice

At its most basic, Eurasia refers to the combined landmass of Europe and Asia, stretching from the Atlantic Ocean in the west to the Pacific in the east, and from the Arctic in the north to South and Southeast Asia in the south. Yet when defined in political or economic terms, the concept becomes more complex. This vast region—covering over 36% of the world’s surface area—includes influential Western institutions in the west, such as the European Union and the Council of Europe. In contrast, the east is shaped by post-Soviet and Sino-Russian groupings, including the Commonwealth of Independent States (CIS), the Shanghai Cooperation Organization (SCO), and the Eurasian Economic Union (EAEU). In policy circles, the term "Eurasia" often refers more narrowly to the Caucasus (Armenia, Azerbaijan, Georgia) and Central Asia (Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan, Turkmenistan, Mongolia, and Afghanistan). Yet countries in these regions rarely lead the institutions that shape their future. Instead, most regional organizations are dominated by larger powers, primarily Russia and China. One partial exception is the Organization of Turkic States (OTS), though it excludes non-Turkic members such as Tajikistan, Georgia, and Armenia. Many external actors—beginning with Japan's "Central Asia plus Japan" initiative in 2001—have formed dialogue platforms with the five post-Soviet Central Asian republics, often referred to collectively as the "C5." More recently, Turkey, China, the EU, and others have created similar frameworks. While these engagements have value, they are usually shaped by external agendas. The fundamental issue remains: Central Asia lacks strong, self-directed institutions of its own. In response to this institutional vacuum, Professor S. Frederick Starr proposed in 2015 a broader regional framing: Greater Central Asia. He called for moving beyond the Soviet-era definition of Central Asia to include neighboring regions with shared historical, cultural, and strategic ties. He also noted a stark reality: Greater Central Asia is the only region of its kind without its own exclusive institutions—ones not directed by outsiders. That may be starting to change. A more distinct regional identity is emerging, with new frameworks for cooperation gradually taking shape. As countries in the region increasingly define their own development priorities and diversify partnerships beyond Moscow and Beijing, there is growing momentum for a more autonomous and inclusive model of regional integration. One of the clearest examples is CAMCA—an initiative that reflects the full geographic and political scope of Greater Central Asia. Over the past decade, the Central Asia-Caucasus Institute (CACI), founded by Professor Starr, has worked with the Rumsfeld Foundation to support a new generation of regional leaders through the CAMCA Fellowship Program. Originally conceived by alumni of a joint initiative between Starr and former U.S. Secretary of Defense Donald Rumsfeld more than fifteen years ago, the CAMCA Network has become one of the few institutions uniting the entire Greater Central Asia region. Each year, the fellowship culminates in a regional forum hosted by a different CAMCA country. The most recent—held last week in Ulaanbaatar—marked the 11th such gathering and the second time the event has been hosted by CAMCA...

Digitizing Central Asia: Interview with Ainura Umaeva, Thought Leader in Communications and Media

This week The Times of Central Asia will be attending the CAMCA Regional Forum, which this year is being held in Ulaanbaatar, Mongolia.  The CAMCA network is a collection of professionals and policymakers dedicated to developing Eurasia by sharing ideas, knowledge and inspiration; its name stands for Central Asia, Mongolia, the Caucasus and Afghanistan. Ahead of the Forum, The Times of Central Asia spoke with Ainura Umaeva, the Owner and CEO of TIDAM Communications Agency in Almaty -- and a leader in strategic communications and advisory -- about what the CAMCA program means for the Eurasian communications and digital industries, and what the future might hold for women doing business in Central Asia. TCA: What condition do you feel the digital and information spaces are currently in – in Kazakhstan, and elsewhere in the Eurasia region? AU: Kazakhstan has made remarkable progress in digitalizing public services and fintech. For many of us, it’s now second nature to access government or commercial services instantly through a smartphone. This level of convenience has become so embedded in our daily lives that we often take it for granted. However, when we look deeper, we notice a different reality. Despite this visible digital infrastructure, there’s a significant lack of digital literacy — especially in the private sector. Many businesses are still not leveraging the full potential of digital technologies, including AI, data analytics, or automation. While we appear digitally advanced on the surface, in practice the digital transformation often remains quite superficial. The real challenge now is to deepen that transformation — to build not only user-facing digital tools but also internal digital capacity and data culture. In what areas do you think CAMCA initiatives can help them improve? One of the greatest strengths of CAMCA is its ability to bridge regional fragmentation. Although the CAMCA region is often perceived by the outside world as a cohesive bloc, internally we remain deeply segmented — informationally, economically, and culturally. Many countries in the region lack awareness of one another’s realities, opportunities, and success stories. Several years ago, I worked with a client on a cross-regional study, and it became clear to me how little we actually know about our neighbors. This informational disconnect leads to missed opportunities for collaboration and shared growth. Initiatives like the CAMCA Forum are essential because they foster not just dialogue, but a sense of common regional identity. Paradoxically, it often takes an external initiative to help us better recognize how much we share. Being born and raised in Kazakhstan, with roots in the Caucasus, I constantly reflect on the contrast between the two regions. Despite its political and linguistic diversity, the Caucasus is often perceived — and perceives itself — as more cohesive than Central Asia. In our region, we are still discovering our collective identity. You’re speaking in a session dedicated to women’s networks. How will women’s authority in Eurasian business look in 10 years compared to now? In our work with the She Business Women Community — a...

The Next Steps for Central Asian Finance: Interview with Azerbaijani Fintech Leader Dr. Fuad Karimov

This week The Times of Central Asia will be attending the CAMCA Regional Forum, which this year is being held in Ulaanbaatar, Mongolia.  The CAMCA network is a collection of professionals and policymakers dedicated to sharing ideas, knowledge and inspiration to accelerate the development of the Eurasia region; its name stands for Central Asia, Mongolia, the Caucasus and Afghanistan. Ahead of the Forum, The Times of Central Asia spoke with Dr. Fuad Karimov, Regional Managing Director of the payment software company Xsolla, about what the CAMCA program means for the Eurasian finance industry, and how Azerbaijan can work more closely with Central Asia. TCA: What condition do you feel fintech spaces are currently in, particularly in the Eurasia region? FK: Fintech [financial technology] across the CAMCA region is accelerating. Countries like Kazakhstan and Uzbekistan have made significant progress in regulation and adoption.  In Azerbaijan, key drivers include state-led digitalization and innovative companies like PashaPay and Birbank, which are transforming consumer payment behavior.  Cross-border transfers, mobile banking, and contactless solutions are increasingly common across the region. In what areas do you think CAMCA initiatives can help them improve? CAMCA can create platforms to harmonize financial regulations, facilitate cross-border fintech testing, and promote knowledge exchange. It can also help reduce friction in currency conversion.  Regional collaboration can attract investors from the West and Asia. Priorities should include cybersecurity, financial literacy, AI in finance, and coordinated exploration of digital currency pilots like e-Manat, e-Tenge, and e-Soum. You're moderating a session on harnessing fintech in CAMCA markets. What topics do you expect to touch upon, and who are you looking forward to hearing from? We’ll cover the rise of digital national currencies (CBDCs), crypto regulation, exchange rate risk, and the impact of AI on lending, compliance, and fraud prevention.  I’m especially looking forward to hearing from fintech leaders in the CAMCA region — each representing diverse policy environments and innovation models. Where do you see opportunities for Central Asia to work more closely with Azerbaijan? There’s strong potential in co-developing cross-border payment systems, digital identity frameworks, and startup accelerators.  Azerbaijan can share experience in building public-private fintech partnerships, while Central Asia offers scale and growing demand. Aligning exchange rate mechanisms, regulatory approaches, and education systems will enhance regional integration.  The CAMCA platform is an ideal space to turn these synergies into actionable policy and investment opportunities.  

Eurasian Connectivity Comes One Step Closer at the 2024 CAMCA Forum in Bishkek

The wider Eurasia region took another step towards cooperation and connectivity last week, as the 10th annual CAMCA Regional Forum was held in Bishkek. CAMCA – standing for Central Asia, Mongolia, the Caucasus and Afghanistan – is an initiative to accelerate dialogue between governments, private enterprises and media figures from these ten nations. Organized by the Washington, D.C.-based Central Asia-Caucasus Institute and the Rumsfeld Foundation, this year’s Forum – the first such event to take place in Kyrgyzstan – featured over 300 delegates across its two days, and presented insights from over 70 speakers. Attendees came from 25 countries in total. Professor Frederick Starr, the Central Asia-Caucasus Institute’s chairman, used his opening address to call on the countries of the region to start preparing for a future within a cohesive international bloc. Dr Starr reasoned that Russia and China, imperial powers that have traditionally had a controlling presence in Central Asia, may see their global influence wane in the coming decade. This would give the countries of Central Asia, and their neighbors, more space to create projects that serve their economies directly. A leading CAMCA regional project is the ‘Middle Corridor’ trade route, which bypasses Russia to transport goods more efficiently between Europe and China. Discussions are also taking place concerning the creation of single business and tourist visas for the whole Central Asia region. The importance of collaboration between countries in the Caucasus and Central Asia to mitigate the impact of climate change has never been so great. Addresses by senior members of the Kyrgyz government highlighted the progress that Kyrgyzstan has made since the administration of president Sadyr Japarov began its work in 2021. The country’s deputy prime minister Edil Baisalov reported that Kyrgyzstan is on track to double its GDP to $30 billion by 2030, while the minister for digital development, Nuria Kutnaeva, spoke about the rapid digitalization of the country’s government services.  In a noticeably warm and collaborative atmosphere, the event nonetheless highlighted the barriers that prevent the ten countries from forming a tangible ‘CAMCA’ space in the present. A key goal is the harmonization of their legislation and policy directions; however, no delegates from Tajikistan could travel to Bishkek for the Forum, as otherwise solid relations between Tajikistan and Kyrgyzstan are still strained by a dispute over their common border. Likewise, Armenian voices were also absent this time, in light of several of the sessions featuring Azerbaijani speakers and talking points. The event featured only one guest from Turkmenistan.  Even in these conflicts, however, Central Asian diplomacy is at work. The conflict on the Kyrgyz-Tajik border, mainly in Tajikistan’s Vorukh district, is being resolved through negotiations between the two countries’ governments, which would have been unthinkable even five years ago. Meanwhile, Kazakhstan is acting as a mediator between Baku and Yerevan in the aftermath of the war in Nagorno-Karabakh. Other topics on the agenda included security priorities for Central Asia, digital innovation in business, cooperation with Afghanistan, transitions in global energy markets, and infrastructure projects...