• KGS/USD = 0.01149 0%
  • KZT/USD = 0.00193 0%
  • TJS/USD = 0.09146 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00193 0%
  • TJS/USD = 0.09146 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00193 0%
  • TJS/USD = 0.09146 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00193 0%
  • TJS/USD = 0.09146 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00193 0%
  • TJS/USD = 0.09146 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00193 0%
  • TJS/USD = 0.09146 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00193 0%
  • TJS/USD = 0.09146 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00193 0%
  • TJS/USD = 0.09146 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
24 December 2024

Viewing results 1 - 6 of 85

Turkmenistan and Tatarstan Discuss Trade and Debt Issues

On August 27, at a meeting of the Turkmenistan-Tatarstan joint working group on trade-economic, scientific-technical, and cultural cooperation in Kazan (Republic of Tatarstan, Russian Federation), it was announced that Turkmenistan and Tatarstan's 's trade turnover has increased by 13.4%, amounting to $52.3 million, largely due to the import of products to Turkmenistan. However, the Turkmen Minister of Finance and Economy, Serdar Joraev, stated that this is still two times lower than 2019's numbers. Deputy Prime Minister and Minister of Industry and Trade of Tatarstan, Oleg Korobchenko confirmed the overall decline in trade turnover, with both parties calling for a joint solution. During the meeting, the participants discussed Turkmenistan's debt, which arose due to problems with inter-bank settlements. Whilst both parties stated that this issue is under control and being resolved with the participation of the Central Banks of Turkmenistan and Russia, the total amount of debt remains unreported. Tatarstan companies in the fields of mechanical engineering and oil refining supply equipment and goods in Turkmenistan. In 2020, 852 Kamaz trucks, the second high-speed A145E marine motor ship, and more than $8 million worth of medicines and medical supplies were delivered to Turkmenistan from Tatarstan.

Uzbekistan and Afghanistan To Work Together on Mining Projects

Afghanistan and Uzbekistan have signed five agreements related to mining projects in Afghanistan. The agreements are for the exploration of hydrocarbon fields in the Afghan-Tajik oil and gas basin, the development of copper and gold deposits in the Qandaran district of Zabul province, iron extraction in the Hesh district of Bamyan province, and hydrocarbon resources in the Tuti-Maidan district of Faryab province. There are also plans to build a 120-megawatt gas-fired power plant in Faryab province. These agreements, totaling $1.15 billion, were part of a more comprehensive package of 35 agreements and memorandums of understanding signed between the two countries. These agreements amount to an Uzbek investment in Afghanistan of over $2.5 billion. The latest round of cooperation points to the strengthening of economic ties between Tashkent and Kabul, which is especially important given the region's current geopolitical challenges and financial instability. These agreements can also significantly impact Afghanistan's economic development by providing needed resources and creating jobs in crucial regions of the country.

Kazakhstan and Germany to Cooperate in Water and Agriculture

During a visit to Germany last week, Kazakhstan Deputy Prime Minister Kanat Bozumbayev met with the German Federal Ministry of Food and Agriculture to discuss the possibility of Kazakh agricultural and organic products entering the German market. The parties agreed to draft a concept for the Regional Center for Sustainable Agriculture in Central Asia, an initiative announced by the President of Kazakhstan during his official visit to Germany back in September 2023. Following Kazakh Deputy Prime Minister's meeting with Boris Greifeneder, Managing Director of the German Water Partnership (GWP), a decision was made to draft an Agreement on a Water Partnership between Kazakhstan and Germany. Cooperation  with GWP, a network of more than 300 companies in the water sector with a strong international focus, marks an essential step towards sustainable and efficient water management in Kazakhstan and will allow the use of proven new technologies. Speaking at the roundtable "Water for Sustainable Development," Bozumbayev noted that the consequences of the unprecedented floods experienced by Kazakhstan in spring, illustrate the need for innovative approaches to combat and prevent similar disasters in the future. To this end, he added that Kazakhstan is currently testing Talsim, a German digital flood forecasting solution, and is ready to study German cases in solving flood problems. The Kazakh Deputy Prime Minister discussed training specialists for Kazakhstan’s water management industry and in turn, the German side expressed its readiness to identify a university to collaborate with the newly- established Kazakh National University of Water Management and Irrigation in Taraz.

Kazakhstan to Construct Seven New Offshore Vessels

Kazakhstan plans to expand its maritime fleet by building seven new vessels on the Caspian Sea. These vessels will be three tankers, two ferries, and two container ships. The construction of the vessels is part of a broader strategy to develop Kazakhstan's transportation and logistics infrastructure, which will strengthen its position on the Caspian Sea. Today, Kazakhstan's merchant fleet consists of 17 vessels: 10 tankers, four dry bulk carriers, and three container ships. In December 2023, KazMunayGas and Abu Dhabi Ports Group signed an agreement to establish a ship repair and shipbuilding yard in Kazakhstan. This project will provide the necessary base for the repair and construction of new vessels, which will increase the competitiveness of Kazakhstan's fleet on a global level. In addition, Kazakhstan continues to strengthen its ties with Azerbaijan. Tankers have already been purchased to transport oil from Kazakhstan to Azerbaijan for subsequent shipment via the Baku-Tbilisi-Ceyhan oil pipeline. This cooperation will diversify export routes and ensure the stability of supplies. Turkey has become another significant partner of Kazakhstan in shipbuilding. Under an agreement with Turkish companies, new vessels will be built, providing the country with additional opportunities to develop trade relations in the region. This project will also reduce Kazakhstan's dependence on Russia in shipbuilding, and strengthen its position in the Caspian Sea.

Thai Company to Build Fish-Processing Plant in Kazakhstan

The Thai company Sea Value Plc. plans to build a plant in Kazakhstan to produce canned, processed fish, and frozen semi-finished products. The project was discussed during a meeting on August 14 in Astana between the Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, Gabidulla Ospankulov, and the President of Sea Value, Dr. Poj Aramwattananont. As reported by the company Kazakh Invest, Sea Value is currently searching for a plot of land to start the project. Local fisheries are planned to supply fish for the new production, and the finished products will be exported to Thailand and other countries. The Thai company plans to invest $6 million in the construction of the plant, which will produce 3-5 tons of fish products per day. Sea Value is Thailand's second-largest producer of canned tuna, exporting products to 150 countries. In 2023, trade turnover between Kazakhstan and Thailand increased by almost 36%, reaching $367 million.

Uzbekistan and Kazakhstan Aim for $10 Billion Trade Volume

Following on from our previous report on the President of the Republic of Uzbekistan's current visit to Kazakhstan, on August 8, a meeting was held between Shavkat Mirziyoyev and the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, at the residence in Аkorda. Meetings of the Intergovernmental Commission, the business forum, and several cultural events were also held on the eve of the visit. A strategic partnership and alliance program until 2034 has been prepared, and a council chaired by the heads of foreign policy agencies is being established. In recent years, the volume of trade has doubled, the number of joint ventures has increased five-fold, the volume of cargo transportation is increasing, and large cooperation projects are being implemented. At the meeting, the presidents supported a further comprehensive cooperation program and the establishment of an inter-parliamentary forum with the participation of the chambers of the two countries' parliaments. Before the current summit, a portfolio of new deals and contracts with a total value of $7 billion was initiated to develop industrial cooperation which includes projects in energy, transport and logistics, metallurgy, textiles, agriculture, and construction, as well as inter-regional projects. The highest priority was given to implementing strategic regional projects as soon as possible, such as the Kambarata HPP-1. It was also agreed that the first meeting of the two countries' regional leaders in Samarkand will be held this fall. In unison, the first session of the Supreme Interstate Council was held under the president's chairmanship. The two countries' leaders noted the adoption of the strategic partnership and alliance program for 2024-2034, stating that the volume of trade should increase to $10 billion in the coming years, and for this purpose, a separate program will be adopted by the end of the month. Special attention was paid to the mutual formation of markets and eliminating existing restrictions. At the end of the Supreme Interstate Council's first meeting, a ceremony was held, wherein the presidents signed the decisions of the Supreme Interstate Council on approving the strategic partnership and alliance program for 2024-2034 and establishing the Council of Foreign Ministers. In addition, agreements were reached on mutual cooperation in agriculture, health, and the economy. A memorandum on establishing the Uzbekistan-Kazakhstan Council of Experts, protocols on cooperation in the regulation of natural monopolies and competition policy, and a plan for several other activities were also signed. At the end of the bilateral negotiations, branches of the Tashkent Institute of Irrigation and Agricultural Mechanization Engineers in Almaty (Kazakhstan) and the South Kazakhstan State University named after Mukhtar Avezov in Chirchik (Uzbekistan) were ceremonially opened. The leaders of Uzbekistan and Kazakhstan also took part in a ceremony dedicated to the arrival of the first freight train on the route Xi’an–Khorgos–Almaty–Saryogoch–Tashkent. Presidents Mirziyoyev and Tokayev unveiled a statue in Astana of the founder of the Uzbek literary language, poet and great thinker, Alisher Navoi. In 2020, the late Kazakh poet Nesipbek Aytuli translated and published Navoi's most important work, Khamsa, into Kazakh, and President Tokayev...