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Afghanistan to Boost Oil Production in the Amu Darya Basin

Afghanistan plans to launch 25 new oil wells in the Amu Darya basin, increasing daily oil production to 3,000 tons. Hamdullah Fitrat, the deputy spokesman of the Islamic Emirate of Afghanistan, shared that there are currently 24 active wells in this field, from which 1,300 tons of oil are extracted daily. According to Fitrat: "The Ministry of Mines and Petroleum plans to activate 25 more wells by the end of this year, of which 18 will be newly drilled, two will be exploratory wells, and five will be rehabilitated.” Economic experts stress that officials should carefully plan new well drilling and attract investors to process the extracted oil. Economic expert Abdul Zahoor Madaber stated that Afghanistan has abundant natural resources but lacks modern machinery to process them, and cooperation with other countries is needed to import this equipment. Mohammad Asif Stanekzai, another economic expert, added: “The production and processing of natural resources can create job opportunities and have a positive impact on reducing inflation in Afghanistan.” According to the Ministry of Mines and Petroleum, only 10% of Afghanistan’s oil needs are currently met from domestic production. The Amu Darya is a vital river for Central Asian countries. While 72-73% of its water originates in Tajikistan, the majority is used by neighboring countries. In April of this year, the countries of Central Asia distributed Amu Darya and Syrdarya water for the summer of 2024. Under the agreed quota, the draw on water from the Amu Darya watershed will be 56 billion cubic meters for the year, with about 40 billion cubic meters used in the April-to-October growing season. As stated in the Interstate Commission for Water Coordination (ICWC) agreement, Uzbekistan will receive 16 billion cubic meters, Turkmenistan will receive 15.5 billion cubic meters, and Tajikistan will receive 6.9 billion cubic meters. The ICWC claims that the total number of irrigated lands in Central Asian countries is 4.3 million hectares in Uzbekistan, 2.5 million hectares in Kazakhstan, 1.9 million hectares in Turkmenistan, 1 million hectares in Kyrgyzstan, and 680,000 hectares in Tajikistan.

tourism industry international tourism travel Economy Tourism

Kazakhstan Listed as a Top Destination by Lonely Planet

Kazakhstan has been included in Lonely Planet's prestigious "Best in Travel 2025" ranking, earning it recognition as one of the year's best travel destinations. Lonely Planet, a leading international publisher, was established in 1973 and since then, has published comprehensive travel guides in 14 languages, covering 195 countries. Aimed to inspire people to explore the world, the organisation also publishes articles, lists, and rankings of the best places to visit, based on recommendations from experts and travelers and according to their unique cultures and natural diversity. Kazakhstan's high ranking in 'Best in Travel 2025', is largely attributed to its ancient traditions and modern achievements, and especially, its rich history and varied landscapes. Vice Minister of Tourism and Sports of the Republic of Kazakhstan Yerzhan Erkinbayev warmly welcomed the country's inclusion in the list as validation of the growing international interest in Kazakhstan and stated that it emphasised the importance of promoting sustainable tourism. Lonely Planet's executive editor, Nitya Chambers, said the publication is proud of its choice and confident that this list will inspire travelers to make new discoveries. In its description of Kazakhstan, Lonely Planet focuses on the intertwining of ancient traditions and modern culture, hailing the country a place where every visitor can discover something unique. The publication also mentions echoes of the ancient Silk Road, tangible in the vast steppes. Tourism in Kazakhstan has been actively developing in recent years, and the country is becoming increasingly popular among international travelers. Popular destinations include Almaty, Astana, and national parks. In the first six months of 2024 alone, 566,500 foreign tourists visited Kazakhstan, an increase of almost 10% compared to the same period in 2023. The demographics of foreign tourists is also on the rise. In the first quarter of this year, the average revenue of Kazakh companies working in the tourism sector - tour operators, travel agencies, and other organizations - increased five-fold. For January-March, it exceeded 160.3 billion tenge; the highest quarterly income indicator of tourism companies since the beginning of 2022. Kazakhstan's tourist potential has also been praised by other well-known travel publications. Earlier, “Conde Nast Traveler” and “Wanderlust” included Kazakhstan as one of the top world destinations for travel in 2024, and Almaty was included in a list of the 52 best tourist destinations issued by The New York Times.

Grain export Wheat export Agricultural Produce Agriculture Economy

Kazakhstan to Increase Grain and Wheat Exports

According to Kazakhstan's Ministry of Agriculture, Aidarbek Saparov, 16.7 million hectares of cereals were sown in Kazakhstan this year. Harvesting is 99.7% complete, and 26.5 million tons of grain have been threshed. Kazakhstan plans to export about 12 million tons of the new harvest to traditional markets—the countries of Central Asia and Afghanistan—and new ones, such as Pakistan, Indonesia, Brazil, and Malaysia. At a government meeting on October 23, Deputy Minister of Trade and Integration Kairat Torebayev reported that Kazakhstan's export potential for cereals is estimated at 12 million tons, including 7-7.5 million tons of wheat, 1.4 million tons of barley, and 300,000 tons of corn.Torebayev stated that in 2023, Kazakhstan exported 1.43 million tons of cereals to China, marking a 5.5-fold increase over the previous year. Wheat exports alone surged to 538,800 tons, representing nearly a 15-fold increase compared to 2022. Torebayev said Kazakhstan could increase its wheat exports to China and other Asian countries to 1.6 million tons, adding that its export potential to Turkey and Middle Eastern countries is almost 1 million tons. Preliminary agreements have been reached on the export of 600,000 tons of wheat to Armenia and 1 million tons to Italy. Negotiations on exporting 200,000 tons of grain to North African countries are underway. According to APK-Inform, in the 2022/23 grain season, Kazakhstan exported more than 7.3 million tons of wheat, a record-high volume for the last few seasons. Uzbekistan remained the primary importer of Kazakh grain, followed by Tajikistan, Afghanistan, Turkmenistan, and China. In 2022, Kazakhstan's wheat exports totaled $1.91 billion, making it the 11th largest wheat exporter globally.

Export/Import Economy Bilateral Cooperation Export of Natural Gas Natural gas

Turkmenistan and Iraq Sign Gas Deal for Seasonal Supply via Iran

On October 19, representatives from Turkmenistan and Iraq signed a significant gas agreement in Baghdad. Under the deal, Iraq will import up to 20 million cubic meters of gas daily, with deliveries routed through Iran via a swap arrangement. The Iraqi government has expressed its intention to begin implementing the contract soon. The contract shows that Turkmenistan delivers 10 million cubic meters of fuel to Iraq in winter and 20 million cubic meters in summer. Iraqi Electricity Minister Ali Fadel noted that the contract compensates for the same amount of gas in the event of supply problems. Iraq faces severe energy shortages and unstable supplies from Iran. Problems include its debt and difficulties making payments to Iran, which is under US sanctions. Supply from Turkmenistan is expected to moderate this dynamic. In parallel, Iraq plans to sign contracts with other suppliers and invest in its gas projects. Turkmenistan is also China's gas supplier and was the largest supplier to China in the first half of 2024, exporting gas worth $5.67 billion. During a recent visit to Iran, Gurbanguly Berdimuhamedov, the former president of Turkmenistan and current chairman of the People’s Council (Halk Maslahaty), announced plans to increase gas supplies to Iran to 40 billion cubic meters annually, further solidifying Turkmenistan’s role as a major energy provider in the region.

Russia Economy Bilateral Relations Economic Cooperation Foreign trade turnover

Kyrgyzstan and Russia Set to Expand Cooperation

On October 21, in Moscow, Akylbek Japarov, the Chairman of Kyrgyzstan's Cabinet of Ministers, and Mikhail Mishustin, the Chairman of the Russian Government, chaired a joint meeting of the governments of both countries. Japarov's visit was planned to coincide with the centenary of the formation of the Kara-Kyrgyz Autonomous Region, and also with the beginning of the Days of Culture of Kyrgyzstan in Russia. “The establishment of the Kara-Kyrgyz Autonomous Region in 1924 as part of the Russian Soviet Federative Socialist Republic, followed by the formation of the Kyrgyz Autonomous Soviet Socialist Republic in 1926 and later the Kyrgyz Soviet Socialist Republic in 1936, was of colossal importance for our people, becoming the foundation of the sovereign Kyrgyz Republic. The friendship between the Kyrgyz and Russian peoples has been forged over the centuries, has gone through difficult times, but has given many examples of devotion and loyalty,” Japarov said. Noting that Kyrgyz-Russian relations have elevated to the status of "deepened relations" of alliance and strategic partnership, Japarov stated: "We are very pleased that Russian private businesses and investors have paid attention to Kyrgyzstan's possibilities and have intensified their work. We are always open to Russian investments and are ready to provide maximum assistance in implementing investment proposals." Mishustin in turn expressed Russia’s interest in further developing bilateral cooperation in all areas. "During the first eight months of this year, [Kyrgyz-Russian] trade turnover has grown by 16 percent. The share of the ruble in mutual settlements has reached almost 90 percent. We want to maintain this trend to ensure stable and predictable conditions for doing business," Mishustin said.

Oligarchs International investment Investment Economy Finance

Warren Buffett’s Companies Expand Investment in Uzbekistan

Uz500, a wealth advisory and private sector development organization focused on Uzbekistan, Eurasia, and the wider Global South, is to analyse direct foreign investments in Uzbekistan, starting with billionaire Warren Buffett. Since 1965, Buffett has transformed Berkshire Hathaway into a trillion-dollar company, primarily investing in American businesses. Currently, Berkshire owns stakes in eight non-US companies, including five major Japanese firms and China's BYD. Notably, half of these companies have expanded their presence in Uzbekistan, launching major energy, infrastructure, and manufacturing projects. Last month, the Sumitomo Corporation announced its agreement to acquire a 49% stake in several renewable energy assets in Uzbekistan from ACWA Power, a company listed in Saudi Arabia. Through this ACWA-Sumitomo partnership, they aim to develop 2.5 GW of renewable energy (solar and wind) and 968 MW of battery storage capacity in Uzbekistan, with a total investment of $4.2 billion. In August 2024, an international consortium of TAQA Water Solutions, Marubeni, and SUEZ signed a $1 billion joint development agreement with the Government of Uzbekistan to build the CIS region’s largest wastewater treatment facility in Tashkent. Meanwhile, Mitsubishi’s advanced power equipment is responsible for 90% of Uzbekistan’s large-scale gas-fired generation, including Navoi 1, 2, and 3 and the $2.5 billion Sirdarya 1 and 2 combined-cycle gas turbine (CCGT) power projects. The first EVs were produced at the BYD Uzbekistan JV plant in June 2024. While the world’s largest EV maker announced or started building its plants in Thailand, Brazil, Turkey, and Hungary, BYD Uzbekistan became BYD’s first operational overseas plant. Uz500 predicts that Japanese companies Itochu and Mitsui, part of Berkshire Hathaway’s portfolio, will follow their peers and invest in Uzbekistan, the region's fastest-growing economy. Their investments could include acquiring renewable energy or infrastructure assets from ACWA Power or Masdar or forming joint ventures to develop uranium and mineral resources. Mitsubishi, Sumitomo, and Marubeni are also expected to increase their investments through more projects and acquisitions. As a result, Berkshire’s indirect investment in Uzbekistan (already worth several hundred million dollars) is likely to grow significantly in the coming years.