• KGS/USD = 0.01143 0%
  • KZT/USD = 0.00195 -0%
  • TJS/USD = 0.09926 0.71%
  • UZS/USD = 0.00008 -0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00195 -0%
  • TJS/USD = 0.09926 0.71%
  • UZS/USD = 0.00008 -0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00195 -0%
  • TJS/USD = 0.09926 0.71%
  • UZS/USD = 0.00008 -0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00195 -0%
  • TJS/USD = 0.09926 0.71%
  • UZS/USD = 0.00008 -0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00195 -0%
  • TJS/USD = 0.09926 0.71%
  • UZS/USD = 0.00008 -0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00195 -0%
  • TJS/USD = 0.09926 0.71%
  • UZS/USD = 0.00008 -0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00195 -0%
  • TJS/USD = 0.09926 0.71%
  • UZS/USD = 0.00008 -0%
  • TMT/USD = 0.28575 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00195 -0%
  • TJS/USD = 0.09926 0.71%
  • UZS/USD = 0.00008 -0%
  • TMT/USD = 0.28575 0%

Viewing results 1 - 6 of 121

Opinion: The Engine of Turkic Integration – Why TURKPA Is No Longer “Just Talk”

On June 12, in Astana, the 14th Plenary Session of the Parliamentary Assembly of Turkic States (TURKPA) was held under the theme: TURKTIME: The Role of Parliamentary Diplomacy. TURKPA has existed since 2008, but it is only now that the multifaceted activities of Turkic states are drawing close attention from external observers, first and foremost, from Russia. This is unsurprising since the driving forces behind Turkic initiatives are often Ankara and Astana. While Turkey promotes its national interests, Kazakhstan appears to play both of its powerful neighbors, Russia and China, against each other. Moscow, at times, does not hide its ire, hinting that its influence over Astana is diminishing in favor of Beijing. Kazakhstan’s President Kassym-Jomart Tokayev skillfully engages with China, securing benefits such as investments and a visa-free regime, which gives Kazakhstani carriers an advantage over their Russian and regional competitors. TURKPA was officially founded a year before its 'sister' organization, the Organization of Turkic States, was established. The first proposal to create TURKPA was made by Kazakhstan’s President Nursultan Nazarbayev at the 8th Summit of Turkic Heads of States in November 2006. Interestingly, TURKPA is also listed on the website of the Commonwealth of Independent States (CIS), although it includes Turkey, a country outside the CIS and a geopolitical rival to Russia, which dominates the organization. Equally interesting is the composition of TURKPA and its governance structure. Its full members comprise Turkey, Kazakhstan, Azerbaijan, and Kyrgyzstan, whilst Hungary and Turkmenistan are observers. The day-to-day operations of the organization are managed by a Secretariat headquartered in Baku, and the Secretary General of TURKPA is always an Azerbaijani citizen. Strategic direction is provided through annual plenary sessions, which are presided over by the Speaker of Parliament of the country currently holding the Chair. “The chairmanship rotates annually in alphabetical order according to the Latin alphabet,” explained Kazakh MP Aigul Kuspan. This brings us to a curious contradiction that nobody focuses much upon. It is believed that Azerbaijan is Turkey’s proxy state in the South Caucasus and Central Asia. At the same time, Kazakhstan and Kyrgyzstan, to a lesser or greater degree, pursue a Russian policy in the region. As explained, in recent years Kazakhstan has also gravitated toward promoting Chinese interests. Thus, in practice, Turkey leads TURKPA through its own presidency and via Azerbaijan for two out of every four years, while Russia/China exert influence through Kazakh and Kyrgyz speakers in the other two. In theory, this tug-of-war could have rendered both TURKPA and the OTS, where geopolitical tensions are similar, meaningless forums for routine summits. That was true until recently; however, now we observe a growing geopolitical subjectivity in Central Asia and a reorientation toward its own interests. Therefore, OTS summits and TURKPA plenaries have become more purposeful. This is demonstrated by the words of President Kassym-Jomart Tokayev, who met with delegates of the 14th Plenary Session of the Parliamentary Assembly of Turkic States. “Last year, Kazakhstan chaired the Organization of Turkic States. Under the motto 'TURKTIME', we implemented...

Opinion: China–Central Asia Partnership – Seeking Opportunity in a World of Uncertainty

Leaders from China and the five Central Asian countries will gather in Astana on Monday, two years after their inaugural summit in the Chinese city of Xi’an. However, as Chinese President Xi Jinping has often noted, “Our world is undergoing profound changes unseen in a century." The geopolitical landscape is markedly different from that of their first meeting, with both China and the Central Asian nations now facing a world of increasing uncertainty. In April, foreign ministers from China and the Central Asian countries convened in Almaty, Kazakhstan, where Chinese Foreign Minister Wang Yi expressed concern over the rising tide of protectionism and unilateralism. He criticized the United States for launching a tariff war against more than 180 countries, saying it undermines international trade and destabilizes the global economy. Wang reaffirmed China’s commitment to openness. “China will consistently promote a high degree of openness, share opportunities with the world, and take responsibility for upholding international norms,” he said. Wang’s remarks were echoed by the Central Asian representatives, who voiced strong support for China’s vision of building a “community with a shared future” and pledged to deepen cooperation under the Belt and Road Initiative (BRI). Kazakhstan’s Foreign Minister Murat Nurtleu, said that China and Central Asian nations have set clear guidelines for collaboration in trade, energy, transport and logistics, education, and science. The ties between China and Central Asia stretch back to the ancient Silk Road camel caravans that carried not only goods but also cultures. At the first China-Central Asia summit in Xi’an, Chinese President Xi said: “Back in 2013, I put forward the initiative of jointly building a Silk Road Economic Belt during my first visit to Central Asia as Chinese president.” Like an echo of millennia past, the ancient Silk Road now finds its modern expression through connectivity and cooperation. In May, the first tourist train linking the Chinese city of Xi’an and Almaty, the largest city in Kazakhstan, made its inaugural journey. Also in May, Kyrgyzstan’s State Civil Aviation Agency reached an agreement with Chinese aviation authorities to open a new air route to the Chinese city of Kashgar. As part of the Air Silk Road initiative, this will become the second direct air link between Central Asia and Western China. [caption id="attachment_32911" align="aligncenter" width="1179"] The first tourist train between Xi'an and Almaty; image: CGTN[/caption] This is in addition to a key milestone in the China–Kyrgyzstan–Uzbekistan railway project. In April, construction began on a 12-kilometer tunnel in Kyrgyzstan’s Jalal-Abad region. At the groundbreaking ceremony, Kyrgyz Deputy Chairman of the Cabinet of Ministers, Bakyt Torobayev, stated: “This project is not only of infrastructural importance. It paves the way for improved quality of life, economic growth, and stronger ties between regions and peoples.” [caption id="attachment_32913" align="aligncenter" width="1179"] China–Kyrgyzstan–Uzbekistan railway; image: CGTN[/caption] Beyond infrastructure, Kyrgyzstan is working to integrate with China’s banking payment system. A significant step was taken during a recent meeting in Beijing, where the finance ministers of both countries agreed to establish financial infrastructure for cross-border settlements...

Single Securities Market to Be Launched in the EAEU

Last week, the Eurasian Intergovernmental Council convened in Almaty, where the heads of government from the Eurasian Economic Union (EAEU) member states agreed to standardize securities trading across their stock exchanges. The agreement is expected to further integrate the financial markets of the five member countries, according to Myktybek Abirov, vice president of the Kyrgyz Stock Exchange. “The main purpose of the agreement is to harmonize the rules and standards of securities circulation within the common economic space, which will facilitate financial market integration, improve investor access, and enhance liquidity,” the Kyrgyz Ministry of Economy and Commerce stated. “The adoption of such rules will create new opportunities for businesses and investors, expanding their reach and strengthening economic ties between EAEU countries.” Abirov told The Times of Central Asia that the agreement will allow both private and state-owned companies to list their securities on stock exchanges across EAEU member states. “This is a welcome development, as it gives our issuers access to other stock markets,” Abirov said. “They will be able to place their securities in Russia, Kazakhstan, Belarus, and Armenia, while investors will gain broader access to financial instruments, enabling them to diversify risks.” According to Abirov, efforts to establish a unified securities market within the EAEU have been ongoing for a decade. The newly reached agreement includes the mutual recognition of financial brokers across member states’ stock exchanges. “Each EAEU country currently has slightly different listing requirements. Now, the Eurasian Economic Commission has set unified standards that companies must meet,” he explained. “Securities that comply with these standards will be tradable on financial markets without additional procedures.” Private financial sector representatives have expressed unanimous support for the initiative, emphasizing that greater integration will be beneficial - provided that administrative and regulatory procedures are sufficiently streamlined. The key challenge now is ensuring effective implementation, they noted. Officials at the Kyrgyz Stock Exchange hope that the first such trades will take place this year. Meanwhile, the Kazakhstan Stock Exchange (KASE) has confirmed its readiness to list foreign securities under the new framework.

International University of Turkic States Established in Tashkent

Uzbekistan is to establish the International University of Turkic States in Tashkent. The university aims to strengthen political, economic, cultural, and humanitarian ties among Turkic states. The institution will offer specialized training in engineering, construction, logistics, information technology, healthcare, agriculture, and the food industry, as well as economic and social sciences. Educational programs will be developed in collaboration with leading universities in Turkey, ensuring international academic standards. The university is a non-governmental higher education institution, jointly founded by the Councils of Higher Education of Uzbekistan and Turkey. Starting in the 2025/2026 academic year, its curricula will be based on those of Turkish universities ranked in the top 1,000 globally. A Step Toward Deeper Turkic Cooperation The university’s establishment represents another milestone in strengthening cooperation among the Organization of Turkic States (OTS). Founded in 2009, the OTS includes Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, Uzbekistan, and Turkmenistan, with Hungary and the Turkish Republic of Northern Cyprus holding observer status. Over the past decade, economic ties among OTS members have significantly expanded, with trade volume surpassing $45 billion in 2024. According to the Turkish Ministry of Finance, by the end of 2024, the combined economies of the Turkic states reached an estimated $1.9 trillion, with a population of 178 million. In a related development, The Times of Central Asia reported that in September 2024, the Astana-based Turkic Academy finalized the Common Turkic Alphabet, a Latin-based script consisting of 34 letters. Originally proposed by linguists in 1991, the alphabet aims to enhance mutual understanding and cooperation among Turkic-speaking nations while preserving their linguistic heritage.

Kyrgyzstan Explores Hungarian Agricultural Technologies

The 3rd Kyrgyz-Hungarian Agricultural Forum was held on January 17 in Budapest, Hungary, with the goal of strengthening ties between agricultural companies from Kyrgyzstan and Hungary. According to the Kyrgyz government’s official website, the forum showcased Hungary’s innovative agricultural technologies and solutions to address challenges in the sector. Focus on Innovation and Sustainability At the forum, leading Hungarian agricultural companies presented modern technologies aimed at increasing crop yields, improving irrigation systems, processing agricultural products, and promoting environmentally sustainable farming practices. These innovations align with Kyrgyzstan’s growing need to modernize its agricultural sector and improve productivity. Kyrgyzstan Seeks Hungarian Expertise Speaking at the forum, Kyrgyzstan’s Deputy Chairman of the Cabinet of Ministers and Minister of Water Resources, Agriculture, and Processing Industry, Bakyt Torobayev, emphasized Kyrgyzstan’s interest in Hungary’s expertise. "Hungary is a reliable partner with extensive experience in agricultural technologies, including processing agricultural products, improving plant varieties, and supporting the development of small and medium-sized farms," Torobayev said. He invited Hungarian entrepreneurs to expand their operations in Kyrgyzstan, noting that the country’s new economic policy focuses on three key sectors: agriculture, energy, and transport and transit. Torobayev highlighted Kyrgyzstan’s strategic location at the crossroads of the ancient Silk Road, which offers unique advantages for international trade. He pointed to the ongoing construction of the China-Kyrgyzstan-Uzbekistan railway as a critical infrastructure project to connect Central Asia with China, South Asia, Europe, and beyond. Meeting Between Kyrgyz and Hungarian Officials On the same day, Torobayev held discussions with Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó. The meeting centered on implementing the Declaration of Enhanced Strategic Partnership, signed in November 2023 during Hungarian Prime Minister Viktor Orbán’s visit to Bishkek. One key topic of discussion was the preparation of a comprehensive long-term development plan for Lake Issyk-Kul, Kyrgyzstan’s largest lake and a vital tourist destination. The plan aims to address environmentalconcerns such as climate change, ecosystem degradation, and overuse of natural resources. Hungarian specialists, drawing on their experience with Lake Balaton, will collaborate with Kyrgyz counterparts to develop and regulate the Issyk-Kul region. Enhancing Bilateral Cooperation Another significant outcome of the meeting was the agreement to increase the authorized capital of the Kyrgyz-Hungarian Development Fund by an additional $34 million. This fund plays a crucial role in fostering economic collaboration between the two countries. The ministers also discussed: Increasing exports of Kyrgyz agricultural products to Europe, focusing on environmentally friendly produce. Establishing logistics centers that adhere to European quality and safety standards. Hungary’s Growing Interest in Central Asia Hungary has consistently sought to deepen its engagement with Turkic-speaking countries in Central Asia. As an observer state of the Organization of Turkic States (OTS), which includes Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, and Uzbekistan, Hungary has prioritized economic and cultural ties with the region. Turkmenistan also holds observer status within the OTS.

Uzbekistan to Launch VIP Air Taxi Service in Partnership with UAE’s JETEX

During President Shavkat Mirziyoyev’s official visit to the United Arab Emirates on January 13, Uzbekistan’s Ministry of Transport signed a memorandum of cooperation with JETEX, a leading UAE-based aviation services company. The agreement, signed by Uzbekistan’s Minister of Transport Ilkhom Makhkamov and JETEX founder Adel Mardini, sets the stage for ambitious projects in Uzbekistan’s civil aviation sector. One of the cornerstone initiatives involves JETEX providing Fixed Base Operator (FBO) services for VIP and CIP (Commercially Important Passenger) customers at Tashkent-East Airport through a public-private partnership. This project will also include the repair, sale, and maintenance of small aircraft, along with the launch of VIP air taxi services. These efforts aim to strengthen Uzbekistan’s tourism industry and elevate the travel experience for high-end customers. According to officials, the project is expected to improve the quality of passenger services and enhance Tashkent’s reputation as an attractive and prestigious destination. Moreover, it is anticipated to generate over 200 jobs in Uzbekistan’s business aviation sector, contributing to the nation’s economic growth. Founded in 2005, JETEX has become a global leader in business aviation services, with operations in over 50 locations across the Middle East, Europe, Asia-Pacific, Africa, and the Americas. The company’s expertise in Fixed Base Operator services ensures reliable and sustainable growth in the business aviation sector. Fixed Base Operators (FBOs) provide essential airport services such as aircraft refueling, parking, hangar maintenance, repair, charter sales, and other aviation-related services. These facilities cater to private and business aviation, ensuring high-quality services for operators and passengers. The partnership with JETEX marks a significant step forward in modernizing Uzbekistan’s aviation infrastructure and expanding its footprint in the global business aviation market.