• KGS/USD = 0.01149 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00190 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0%
12 January 2025

Viewing results 1 - 6 of 8

Amid Sanctions, China’s Xinjiang Strengthens Ties with Central Asia

China’s Xinjiang region is deepening its engagement with Pakistan and Central Asia as part of efforts to counter Western sanctions and bolster its role in the Belt and Road Initiative (BRI). On November 26, officials from Xinjiang met with their counterparts from Kazakhstan’s Zhetysu region for the first meeting under a new cross-border coordination mechanism. The discussions focused on cross-border tourism, infrastructure, market regulation, quarantine measures, and joint crime prevention. The meeting culminated in the signing of a memorandum on cross-border tourism. The discussions took place near the port of Khorgos, a critical hub for the China Railway Express, which connects China with Europe. Khorgos is home to China’s first cross-border cooperation center, where residents of neighboring countries can engage in business and shop visa-free. The center allows duty-free purchases of up to 8,000 yuan ($1,104) per day. Xinjiang Governor Erkin Tunyoz stressed the importance of strengthening ties with Zhetysu in areas such as trade, tourism, security, and agriculture. This cooperation is becoming increasingly crucial for Beijing as Xinjiang grapples with sanctions from the United States and other Western countries over alleged human rights abuses—a claim that China denies. Sanctions include the U.S. Uyghur Forced Labor Prevention Act, which prohibits imports from Xinjiang suspected of being produced using forced labor. Similar measures have been implemented by Canada, the United Kingdom, and the European Union. In addition to its collaboration with Kazakhstan, China has established a dialogue mechanism with the five Central Asian countries—Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. Since 2020, foreign ministers from these nations have met annually to discuss logistics, trade, investment, agriculture, mining, and security. Li Lifan, a Central Asia scholar at the Shanghai Academy of Social Sciences, described Xinjiang as a “bridgehead” for the BRI. He highlighted the region’s rich natural resources and its role as a base for major industries, including automobile manufacturing. In 2023, trade between Xinjiang and Central Asian countries surged by 50%, reaching 283 billion yuan ($39 billion). Despite these successes, Li cautioned about future challenges. He noted uncertainties surrounding potential Western secondary sanctions, geopolitical tensions, and Russia's ongoing war in Ukraine. Additionally, U.S.-China relations remain fraught, with further unpredictability anticipated under the leadership of Donald Trump. “Full economic development may only be achievable once global tensions ease,” he said.

Kazakhstan to Plant Forests to Reduce Carbon Dioxide Emissions

On November 18, the British company SEFE Marketing & Trading Ltd. and Kazakhstan’s SAFC LLP signed an emission removal purchase agreement, marking the launch of the country’s first forest climate project. The project aims to plant 3.3 million trees across 1,500 hectares in the Almaty region. According to forecasts, the initiative will achieve an average annual reduction of 26 tons of CO₂ per hectare. Over the 30-year project period, this is expected to remove 1.2 million tons of carbon dioxide from the atmosphere. Additionally, the project is designed to promote agroforestry, ecotourism, and job creation in the region. During a meeting with one of SEFE's Vice-Presidents, Alexander Demidov, and SAFC's CEO Yuri Kim, Kazakhstan’s Prime Minister Olzhas Bektenov emphasized the government’s commitment to supporting environmental initiatives. “We strive to create favorable conditions for attracting foreign investment in environmental projects. The government supports projects aimed at restoring ecosystems, reducing carbon footprint, and developing a green economy,” he stated. Kim added: “This project was supported by the President of Kazakhstan and the Atameken National Chamber of Entrepreneurs, and now we are starting its practical implementation. By combining the competencies of SEFE and SAFC, we will demonstrate Kazakhstan's broad capabilities for attracting foreign investment.” According to Atameken, the project not only lays the groundwork for others to follow suit but also leads the way for new investment opportunities in carbon farming. This approach marks a new stage in diversifying Kazakhstan’s economy, creating potential revenue streams from agricultural production and greenhouse gas emission trading. Kazakhstan’s forest climate initiative demonstrates the country’s commitment to sustainability while attracting foreign investment to bolster its green economy.

First Kazakh Satellite for Mongolia

During Kazakh President Kassym-Jomart Tokayev’s visit to Mongolia on October 29, Kazakhstan and Mongolia signed a landmark agreement to jointly develop an Earth remote sensing satellite. This collaboration will allow each country to independently control the satellite, providing both with real-time data to monitor natural resources and advance agricultural development. At the signing ceremony, Zhaslan Madiyev, Kazakhstan's Minister of Digital Development, Innovation, and Aerospace Industry, commented: "This is the first export of a Kazakh satellite in the country's history. Fully developed by Kazakh engineers, the satellite will be adapted to Mongolia's needs, strengthening the regional satellite infrastructure and highlighting Kazakhstan's growing potential in space technology." Remote sensing technologies will allow both countries to monitor land conditions, manage water resources, and analyze environmental changes more effectively. The National Space Center of Kazakhstan will lead the project, working closely with Mongolian engineers. Throughout the initiative, Kazakh specialists will provide training to their Mongolian counterparts.

Iranian Cooperation with Kazakhstan on New Terminal at Bandar Abbas Port

On June 29, Deputy Prime Minister of Kazakhstan Serik Zhumangarin held a meeting with founder and president of the Iranian shipping company Golden Line, Ali Akbar Ehsani. Golden Line provides services for handling shipping containers and logistics in the port of Caspian on Iran’s Caspian coast. As reported by the Kazakh government’s press service, the Iranian company is interested in expanding its services for the export and transit of various cargoes from Kazakhstan, other Central Asian countries, Russia and Azerbaijan, to ports in the Persian Gulf, Indian Ocean, Asia and Africa. The Iranian port of Caspian, where the company’s main loading and unloading facilities and ships are located, was recently connected to the Iranian railway network, providing direct connections between ports in the Caspian Sea and the Persian Gulf. Regarding the above, the head of the shipping company proposed cooperating with Kazakhstan on the construction of a Kazakh terminal in the port of Bandar Abbas. “We have 25 hectares of container area at our disposal in the port of Bandar Abbas. We are also ready to allocate another 30 hectares in a convenient location for the Kazakh terminal in the port and invest in its construction,” said Ali Akbar Ehsani. In response, Deputy Prime Minister Zhumangarin invited the Iranian company to participate in the first international transport and logistics forum “North - South”, scheduled for the end of July in Aktau (Kazakhstan), to discuss the project with potential Kazakh partners.  

Kyrgyz-German Business Forum

On June 20, First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic Adylbek Kasymaliev presided over a Kyrgyz-German business forum hosted by Frankfurt am Main. Kasymaliev noted that during 32 years of bilateral cooperation, his country’s German partners have implemented several socially significant projects in Kyrgyzstan, including the establishment of an Anti-TB Clinic and a Perinatal Center in Bishkek. Referencing the facts from 2019-2023, bilateral trade turnover had increased 5.5-fold and over 180 joint Kyrgyz-German enterprises currently operate in Kyrgyzstan, first deputy prime minister emphasized that “the potential of cooperation between the two countries has not been fully realized.” Calling on German businesses to further their investment in projects in Kyrgyzstan, Kasymaliev stated, “The undertaken fiscal reforms have made it possible for Kyrgyzstan to instigate the most liberal tax regime in Central Asia”, to the great advantage of German companies and entrepreneurs investing in joint ventures.  

Uzbekistan and Korea Forge New, High-Tech Agenda for Strategic Partnership

On 14 June, South Korean President Yoon Suk Yeol held talks with Uzbekistan President Shavkat Mirziyoyev. During their meeting in Tashkent, it was noted that the Republic of Korea is among Uzbekistan’s leading trade and investment partners. Last year, bilateral trade turnover reached $2.5 billion, and Korean investments in Uzbekistan now exceed $7.5 billion. Negotiations focused on the formation of a new, high-tech agenda for Uzbek-Korean strategic partnership over the next three years. As a result, the two leaders tasked their governments to prepare a Strategic Program for the creation of a regional high-tech hub in Uzbekistan, with priority given to the following “anchor” areas of the Strategy: Partnership on critical mineral resources with deep processing and creation of a complete added value chain. Strategic cooperation in the field of semiconductors, in which the Republic of Korea is recognized as a global leader, and the implementation of plans to create in Uzbekistan’s first fully-fledged research and production cluster of semiconductor products. Full-scale partnership in the chemical industry, including new projects to produce green hydrogen and ammonia, as well as finished rubber products. Deepening cooperation in mechanical engineering. This spring, an assembly line for KIA cars was launched in Uzbekistan’s Jizzakh region, to be followed next year, by a plant with the capacity to manufacture over 60 thousand vehicles per year. Transfer of technologies to develop “smart” agriculture, including via the digitalization of the agricultural sector,  the introduction of “smart” and “green” technologies. Agreements have already been reached on the creation of modern greenhouses and garden complexes in Uzbekistan’s regions based on renewable energy sources. Infrastructure modernization and a program for urban development, based on the high interest of Korean banks and companies in the modernization of transport infrastructure,  and the design and construction of residential and commercial real estate in Uzbekistan on the principles of public-private partnership. With regard to developing potential projects in  green energy and increase energy efficiency, strategic dialogue is to be resumed between energy ministers and a meeting organized in Uzbekistan in the near future.