• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00216 0%
  • TJS/USD = 0.10456 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%

Viewing results 1 - 6 of 130

Uzbek Afghan Business Forum

On July 3, an Uzbek-Afghan business forum was held in Tashkent to coincide with the visit  of an Afghan delegation headed by Minister of Industry and Trade Nuriddin Azizi. The major event, the forum was attended by heads of ministries and government agencies, industry, and over 1,000 business representatives from both countries. As reported by the Uzbek Ministry of Investment, Industry and Trade, Afghanistan is Uzbekistan's fifth-largest export market. In the last five years, trade between the two countries has increased almost 1.5-fold, reaching $866 million in 2023. Uzbekistan currently receives Afghan investment in 550 enterprises, 443 of which are wholly funded with Afghan capital. In his welcoming speech, Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, highlighted several promising areas of cooperation, including diversifying the range of goods traded, and bolstering cooperation between producers and exporters with support of both countries’ respective departments and industry associations. The forum focused on initiatives to further develop mutual trade, such as the transition to round-the-clock border crossing operations, the establishment of trading houses, and the execution of major transport and infrastructure projects. Attention was drawn to the significant impact of more proactive engagement at the International Trade Centre in Termez on the Uzbek-Afghan border, where the creation of business-friendly conditions include a 15-day visa-free regime and tax-free zone. Nuriddin Azizi, Minister of Industry and Trade of Afghanistan, commended Uzbekistan's efforts to foster an environment conducive to bilateral trade, economic and investment cooperation. He also encouraged more proactive engagement between Afghan and Uzbek entrepreneurs by offering assurance of both sides' readiness to support new ventures and initiatives. The forum was complemented by the  exhibition "Made in Afghanistan" which showcased the produce of 75 major Afghan companies from jewellery, textiles and food to electrical engineering, mining, transportation and logistics. The event concluded with the signing of several trade agreements in the chemical and agricultural sectors, as well as an agreement to establish a logistics centre. According to the Uzbek Ministry of Transport, Afghanistan is one of the key links in ensuring regional connectivity across Central and South Asia. In recent years, cargo transportation across Afghanistan has risen significantly and in 2023, the volume carried along the multimodal transport corridor Uzbekistan – Afghanistan – Pakistan increased 1.5-fold compared to 2021.  

Kazakhstan and China Cement Strategic Partnership

On July 3 , Kazakhstan President Kassym-Jomart Tokayev held a meeting in Astana with Chinese President Xi Jinping, during the latter's state visit to Kazakhstan. Tokayev opened the talks by hailing China a strategic partner and one of Kazakhstan’s main allies. In response, Xi Jinping announced that China considers Kazakhstan a priority in its foreign policy relations with neighbouring countries and an important partner in Central Asia, whilst confirming,  “I assure you that China will always be a reliable support for Kazakhstan.” Negotiations revolved around the development of cooperation in investment in various sectors, including e-commerce, the manufacture of automobiles and auto parts, transit and transport, logistics, energy, agriculture, finance, and tourism. Following the meeting, Tokayev told journalists that the development of strong political relations between Kazakhstan and China is based on mutual trust and support and emphasized, “There are no unresolved issues between us. We intend to unite our forces for intensifying trade, economic, scientific, technical, cultural and humanitarian ties. President Xi Jinping and I have just signed a Joint Statement -outlining- important achievements and long-term tasks for our countries. China is Kazakhstan's leading trading partner. Last year, bilateral trade turnover amounted to $41 billion. In the near future we intend to double this figure. Beijing is one of our main foreign investors. Over the past 15 years, about $25 billion has been invested in Kazakhstan [by China].” According to Tokayev, in 2023, Chinese investment in Kazakhstan’s economy increased by 16% and reached $1.8 billion. “Today, 45 projects are being implemented in Kazakhstan at a total cost of $14.5 billion -and we now have over 4,700 enterprises funded with Chinese capital. During negotiations, the importance of further implementation of mutually beneficial investment projects in the fields of energy, infrastructure, agriculture, manufacturing, finance, transport, aerospace, and IT was emphasized. We are ready to create favourable conditions for Chinese companies wishing to develop the Kazakh market.” Referencing the fact that in 2023, exports of agricultural products from Kazakhstan to China doubled to reach $1 billion, the president continued,  “We look forward to increasing supplies of high-quality natural meat products, oilseeds and grain crops to the Chinese market- and exploring - opportunities to increase the volume of grain exports to 2 million tons.” Via teleconference, the two leaders participated in the ceremonial launch of ferries transporting trucks and railway containers along the Trans-Caspian International Transport Route. Tokayev and Xi also opened a Kazakh cultural centre in Beijing and a Chinese cultural centre in Astana, both of which will host various cultural events, exhibitions, lectures, and masterclasses aimed at strengthening mutual understanding between the peoples of the two allied countries. In addition to the above, the two leaders opened a branch of the Beijing Language and Culture University at Astana International University.    

New Plant for Deep Processing of Grain in Kostanay, Kazakhstan

At the Kazakh-Chinese Business Council meeting in Astana on July 2, the administration of Kostanay, Baiterek Venture Fund, KazFoodProducts, and the Chinese company Myande Group signed a Memorandum of cooperation for the construction of the Qostanay Grain Industry plant in Kostanay. As reported by Kazakh Invest, the plant for the deep processing of wheat into amino acids, bioethanol, gluten, animal feed, and wheat bran, when launched in 2027, will manufacture 430 thousand tons of products per year and create about 600 jobs. Hailing the agreement as an important step in strengthening bilateral relations, Rong Zhen, CEO of Myande Group, stated, “We see huge potential in the agro-industrial sector of Kazakhstan, and this cooperation will increase its efficiency and manufacturability and open up new opportunities for Kazakh products to enter the Chinese market." Alikhan Kairatbek, CEO of KazFoodProducts, added: "Based on the quadripartite agreement, it is planned to increase the production of starch molasses to 33 thousand tons per year for further use by domestic confectionery companies. New jobs will be created. Together with the Akimat (administration) of Kostanay region and Baiterek Venture Fund, we are launching large–scale projects in the field of agriculture and are very pleased to have a strategic partnership with Myande Group." Myande Group will also upgrade the AsiaGrowFood plant for deep processing of corn in the Almaty region to increase its production from 200 to 300 tons per day. Deep processing of grain is one of the most promising areas in the manufacturing industry regarding products with high added value. Kazakhstan annually harvests 16-17 million tons of grain, a third of which are exported. Over 260 different types of products with added value can be produced from grain.    

First Container Train on South Korea – China – Kazakhstan – Uzbekistan Route

On June 26, on the initiative of South Korea, China, Kazakhstan, and Uzbekistan railway administrations, and in cooperation with SJ Logistics Group, a ceremony was held at the Kazakh-Chinese logistics terminal in the port of Lianyungang, to launch the first container train from South Korea to Uzbekistan through China and Kazakhstan. The national railways company Kazakhstan Temir Zholy (KTZ), the subsidiary of which, KTZ Express, operates the route through Kazakhstan, reported that covering 7 thousand kilometres, the railway opens new avenues for economic interaction between the associated countries. Speaking at the ceremony, Deputy General Director for Commerce of KTZ Express Ulugbek Orazov, noted: “The launch of the pilot train demonstrates our common desire to develop joint multimodal transportation, which will certainly open up new horizons for trade and interaction in the region.” He continued by adding that the event marked an important step in the development of new opportunities to increase the transit potential of Kazakhstan as well as its establishment as a key transport hub in the international supply chain.    

Kazakhstan to House One of Central Asia’s Largest E-Commerce Distribution Centres

On July 1, Minister of Trade and Integration of Kazakhstan Arman Shakkaliev met Chairman of the Board and founder of China’s YTO Express Co., Yu Weijia, to discuss the construction of one of the largest e-commerce distribution centres in Central Asia. As reported by the Ministry of Trade and Integration, the introduction of intelligent IT solutions to fully automate logistics processes and provide customs support for deliveries, will enable the prompt processing of goods destined for European Union, Eurasian Economic Union and Central Asian countries. During the meeting, Minister Shakkaliev noted the rapid development of  the e-commerce market in Kazakhstan, demonstrated by  an annual growth rate exceeding 20%, and stated: “China's e-commerce market is astonishing in terms of volume, where more than 70 percent of sales are made online. Kazakhstan, with its favorable geographical location, aims to become a key transit zone for international e-commerce. The joint project with Kazpost to establish a distribution centre in Kazakhstan will give a new impetus to the development of cross-border trade.” Emphasizing  the project's unique status in Central Asia, Yu Weijia remarked, “This is a long-term project that will strengthen mutually beneficial and productive cooperation between the two countries. As part of this cooperation, we opened 3 bonded warehouses in China: in Shanghai, Nanjing and Wuhan. This project is the only one in Central Asia that will cover the whole region.”  

Kazakhstan, UNDP, and Eurasian Development Bank Unite in Water Management

On 28 June, the Ministry of Water Resources and Irrigation of Kazakhstan, the United Nations Development Programme (UNDP) in Kazakhstan, and the Eurasian Development Bank (EDB) signed a letter of intent to cooperate on joint development projects in multi-purpose water resources management. As reported by the EDB Media Centre, as part of the agreement, the EDB plans to allocate approximately US $5.3 million in technical assistance to implement several initiatives including water sector digitalization, the development of regional training centres for state-of-the-art irrigation technologies, piloting modern water-saving technologies, and developing a legal and institutional framework for the water sector. Kazakhstan is experiencing an increase in water-related disasters, as evidenced by recent severe floods and escalating water shortages caused by new infrastructure projects in neighbouring regions, and to mitigate future risks, must instigate improved irrigation and water management strategies. Nurzhan Nurzhigitov, Kazakhstan’s Minister of Water Resources and Irrigation, commented: “Our Ministry faces many important tasks, one of which is the modernization and improvement of the country’s water management system. For this purpose, a concept and its comprehensive plan outlining specific measures for the development of water infrastructure in Kazakhstan and other large-scale projects were developed and approved. We intend to actively cooperate with international organizations and financial institutions, adopt the best practices of other countries, and jointly implement large projects that will bring benefits for decades to come. Today’s agreement is another step in this direction.” Nikolay Podguzov, Chairman of the EDB Management Board, added: “We are on the verge of a water shortage in Central Asia – this is a complex regional challenge, but we are tackling it. This is the call we want to convey to all interested parties. We must act very quickly and together. We have only five years to get the region ready and avoid severe water shortages. To timely inform all interested parties, we have done significant work and will keep working to expand the network of partnerships.” “Globally, the water sector suffers from insufficient funding and investment,” highlighted Sukhrob Khojimatov, UNDP Resident Representative a.i. in Kazakhstan. “Today, less than 10% of global investment goes into water infrastructure. In this context, we are encouraged by this partnership, which we believe will help address complex issues in water management, strengthen climate resilience, and develop regional cooperation in Central Asia under the water agenda.”