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Uzbekistan is launching a slate of promising projects focused on mining rare earth elements (REEs) worth $500 million. The country has a large stock of REEs that are needed for industrial uses, and with the involvement of foreign partners, it plans to ramp up production. Among the critical raw materials (CRMs) targeted for production are molybdenum, tellurium, selenium and graphite. Uzbekistan recently signed a memorandum of understanding with the European Union in the field of CRM development. The memorandum seeks to ensure a diversified and sustainable supply of CRMs for the world's economic transition to green energy and a more heavily digitalized existence for humankind, including 5G connectivity, the Internet of Things (IoT) and artificial intelligence (AI). "This agreement with resource-rich Uzbekistan will help the EU secure much-needed access to critical raw materials. It is part of our wider global work with partners to secure the supply of materials for the future. It will be a major boost for Uzbekistan to realize its ambitions to diversify its economy and sustainably develop its extractive industry," said European Commission Executive Vice-President Valdis Dombrovskis. Experts note that Uzbekistan has the second largest reserves of critical raw materials in the region, including deposits of various minerals such as copper, molybdenum and gold. Investing in CRM development will help spur economic growth in Central Asia and increase competition with China. "China is creating very closed mining and supply chains for rare earth elements. Today, rare earth metals and their production are almost completely monopolized by the People's Republic of China (PRC). 80-90 percent of rare earth element processing is controlled and carried out directly inside the Middle Kingdom. Beijing hopes that it will be able to use this advantage in international relations, that it will be able to play a dominant role in the emerging new energy and economic architecture of the world economy, which will determine in the future everything from energy to geopolitics," said Wesley Hill, manager of the international program called "Energy, Growth and Security" at the International Tax and Investment Center.
Uzbekistan has agreed to sign export contracts worth $44 million with Afghanistan, according to a report by the Chamber of Commerce and Industry of Uzbekistan. The contracts were signed during a three-day visit to Tashkent by a delegation of Afghan businessmen. The two nations are also planning to form an Uzbekistan-Afghanistan Business Council, which will have 18 Afghan companies among its members. Afghanistan's import market is worth $7 billion. The goods that are most in demand with Afghan importers are agricultural products, processed food, textiles, leather, electrical components and construction materials.
According to Uzbekistan's national statistics agency, from January to March this year the country's foreign trade value amounted to $15.8 billion, which is $927.9 million (+6.2%) more than the same period last year. Since the beginning of the year exports have reached $6.38 billion dollars (+10%), while imports have reached $9.43 billion (+3.8%). The foreign trade deficit amounted to $3.05 billion. The largest share of the export mix is held by goods (82.2%), of which 16% were industrial goods worth $1.02 billion. Half of the export volume was accounted for by heavy metals ($538 million), and another $344 million by non-ferrous metals. Also in 1Q 2024, Uzbek vegetables and fruits worth $224.7 million, oil and oil products worth $129.9 million, and inorganic chemical products worth $218.7 million were exported. From exports of machinery and transport equipment, Uzbek companies received $248.5 million dollars (-4.5%). Exports of metalworking machines (+203%) and power generation machines (+80.5%) increased significantly. Clothing brought in $228 million, which is 5.6% less than last year, while footwear supplies to foreign buyers also decreased by $3.5 million (-67.2%). At the same time, the volume of furniture exports increased by a healthy $4.3 million dollars (+20.3%).
From the end of May the U.S. will restrict exports of all firearms to non-government entities in high-risk countries, including Kyrgyzstan, Kazakhstan and Tajikistan, according to a statement from the U.S. Department of Commerce. According to the statement, the Department’s Bureau of Industry and Security (BIS) has issued a regulation “amending the Department’s licensing policy for exports of firearms, ammunition, and related components under its jurisdiction.” The decision concerns export to non-governmental organizations. Kyrgyzstan, Kazakhstan and Tajikistan are among 36 countries included on the list of high-risk nations. As part of the new changes to the regulations, the administration is also shortening the validity period of arms export licenses to one year from four years. The changes are aimed at reducing the risk of increasing instability in the regions of the world through the illicit use of American weapons.
The Kyrgyz Ministry of Agriculture, Forestry and Water Resources has urged more domestic businesses to establish and expand trade in agricultural produce with the People's Republic of China (PRC). Kyrgyz farmers and processors currently export wheat flour, cherries, melons, grapes and soybeans to China and to increase food exports, the ministry has issued a series of guidelines. Entrepreneurs and small-business owners must first be registered on the website of the General Customs Administration of the PRC, and to satisfy Chinese demand, ensure that their produce is devoid of genetically modified organisms (GMOs) and harmful additives. "It should be noted that requirements on the Chinese side differ according to risks posed by individual plant products," warned the Kyrgyz Ministry of Agriculture, "and conducts a comprehensive inspection of produce provided by first-time exporters." In his address at an earlier conference in Bishkek, Chinese Ambassador to Kyrgyzstan Du Dewen confirmed China's need for imports from organic agriculture vendors and plans to improve trade relations with Kyrgyzstan. According to the General Customs Administration, Kyrgyzstan increased its annual export to China by over two-fold in the first quarter of 2024, and total bilateral trade turnover stands at $4.5 billion per year. In a recent list provided by Chinese authorities, Beijing requires beef, poultry, fish, as well as cowhides, sheep, goats, and washed wool and cashmere.
Members of Kazakhstan's government and representatives of the Taliban have discussed expanding transportation links between Astana and Kabul, according to the Kazakh government's press service. The Kazakh side has said it's ready to participate in projects to develop the Trans-Afghan corridor: the construction of the railroad routes Termez - Mazar-e-Sharif - Kabul - Peshawar and Herat - Kandahar - Spin - Buldak. The projects, say Kazakh officials, will make it possible to reduce the cargo-transit time between the countries of the region almost 90%, as well as reducing the costs. Kazakhstan is ready to participate in the construction of a Trans-Afghan highway by supplying sleepers and fasteners to Afghanistan. Representatives of the national rail carrier Kazakhstan Temir Zholy, or KTZ, spoke about the new cargo delivery route. "Today we launched a pilot project to organize a new multimodal export route from Kazakhstan through Uzbekistan, Afghanistan, Pakistan and further by sea to the port of Jebel Ali in the UAE. The new route is organized with the participation of KTZ Express. The exporter is Kazakhstan's Bio Synergy, and the shipping partner is Pakistan's National Logistics Cell (NLC). The loading of cargo has already started in Pavlodar region. That cargo is aluminosilicate hollow microsphere. In Almaty, the cargo will be reloaded into containers and transferred to the cars of the Pakistani partner. From there by motor transport it will pass through Uzbekistan and Afghanistan to the port of Karachi in Pakistan. From there, two containers will be sent by sea to the port of Jebel Ali in the UAE," commented KTZ's managing director Bauyrzhan Urynbasarov. The parties also discussed the possibility of arranging more flights between the countries. Under earlier agreements, air carriers from Kazakhstan and Afghanistan have the right to perform three regular passenger/cargo flights per week. Kazakhstan is ready to consider accepting more flights from Afghan airlines. Over the past three years the volume of exports from Kazakhstan to Afghanistan has been steadily growing. In 2023, the volume of transportation by rail amounted to 2.7 million tons, of which 1.5 million tons was flour and grain. In December 2023 Kazakhstan removed the Taliban from its list of banned organizations. According to the Kazakh Ministry of Foreign Affairs, the Taliban was no longer classed as a banned organization "in accordance with the practice of the UN [United Nations]."
