• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00200 0%
  • TJS/USD = 0.09156 -0.11%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28530 -0.14%
19 February 2025

Viewing results 1 - 6 of 52

Turkmenistan, Azerbaijan, Georgia, and Romania Advance Caspian Sea-Black Sea Transport Corridor

On February 10, representatives from the foreign ministries and transport authorities of Turkmenistan, Azerbaijan, Georgia, and Romania held a video conference to discuss a draft intergovernmental agreement on the establishment and operation of the Caspian Sea-Black Sea International Transport Route, the Turkmen Foreign Ministry reported. Participants expressed confidence that the quadrilateral agreement, expected to be signed this year, will significantly boost international freight transportation between Central Asia and Europe. They also highlighted the anticipated positive impact on trade relations among the participating countries and emphasized the importance of involving international cargo transportation organizations to enhance connectivity between European and Asian markets. The initiative builds on a joint declaration signed by the foreign ministers of Turkmenistan, Azerbaijan, Georgia, and Romania in Bucharest in March 2019, which set the foundation for the corridor’s development. The new transport route will link Turkmenistan’s Caspian Sea port of Turkmenbashi with Romania’s Black Sea port of Constanța, passing through the ports of Baku in Azerbaijan and Poti and Batumi in Georgia.

Kazakhstan and China Set to Expand Trade and E-Commerce

Trade between Kazakhstan and China continues to grow, reaching $43.8 billion in 2024, according to China’s General Administration of Customs. Kazakhstan’s exports to China amounted to $15.8 billion, marking a 9% increase from the previous year. These figures were announced by Han Chunlin, China’s newly appointed ambassador to Kazakhstan, during a meeting with Kazakh Minister of Trade and Integration Arman Shakkaliyev on February 8. “This trend confirms our steady progress toward the ambitious goal of doubling bilateral trade turnover in the near future,” the ambassador stated. Strengthening Trade and E-Commerce Cooperation The meeting focused on expanding Kazakh-Chinese trade and economic cooperation, with particular emphasis on e-commerce platforms. Shakkaliyev highlighted that bilateral trade reached a historic high in 2024 and reaffirmed Kazakhstan’s commitment to diversifying its exports while expanding the range of products supplied to China. He also announced plans for trade and economic missions in 2025, alongside Kazakhstan’s participation in major exhibitions in China. A key discussion point was the development of online trade through leading Chinese e-commerce platforms, including JD.com, Alibaba, and Douyin. Kazakhstan’s Growing Presence in Chinese E-Commerce Alibaba: Launched in 2022, Kazakhstan’s dedicated section on Alibaba now includes 290 domestic companies offering over 7,500 products. Total sales on the platform have already surpassed $260 million. JD.com: In 2023, JD.com opened a Kazakhstan section, featuring over 60 products. Revenue from Kazakhstani goods sold on the platform grew from RMB 1 million in 2023 to RMB 1.3 million in 2024. Kazakhstan’s e-commerce industry has seen rapid growth in recent years. According to the Ministry of Trade and Integration, online transactions from January to November 2024 totaled approximately 3.2 trillion KZT (over $6 billion), accounting for 14.5% of total retail trade. As Kazakhstan strengthens its trade ties with China, digital commerce is expected to play an increasingly important role in bilateral economic relations.

Uzbekistan’s Foreign Trade Turnover Grows by 3.8% in 2024

Uzbekistan’s foreign trade turnover (FTT) reached $65.9 billion in 2024, reflecting an increase of $2.4 billion, or 3.8%, compared to the previous year, according to the Statistics Agency under the President of the Republic of Uzbekistan. Exports totaled $26.95 billion, an 8.4% increase year-on-year, while imports amounted to $38.99 billion, representing a modest rise of 0.8%. China and Russia remain Uzbekistan’s top trading partners, with Kazakhstan emerging as a key partner in third place. Uzbekistan conducts trade with 198 countries, with China accounting for 18.9% of its FTT, followed by Russia (17.6%), Kazakhstan (6.5%), Turkey (4.5%), and South Korea (3.0%). Trade with state members of the Eurasian Economic Union (EAEU) reached $17.5 billion in 2024. Of this, $5.83 billion came from exports, while imports amounted to $11.66 billion. In 2024, natural gas trade played a significant role in Uzbekistan’s foreign trade activities. The country exported $628 million worth of gas but imported $1.68 billion worth, more than 2.5 times the value of its exports. Gas imports rose sharply, increasing 2.4 times compared to 2023. Purchases of natural gas from Turkmenistan and Russia surged from $694.9 million in 2023 to $1.68 billion in 2024.

Kyrgyzstan to Build Major Customs and Logistics Center

Construction has commenced on a state-of-the-art customs and logistics center, Global Hub, in the Alamudun district of Kyrgyzstan’s northern Chui region, near the capital, Bishkek. The center will cover more than 136,000 square meters, including 120,000 square meters of modern warehouses. These facilities will feature temperature-controlled environments, refrigeration systems for perishable goods, and dedicated storage for medicines. Additionally, the complex will include dry and bonded warehouses to support various logistical needs. The $21 million project is being implemented by Alkanov Group LLC, a local company. On December 26 the new Chairman of Kyrgyzstan’s Cabinet of Ministers, Adylbek Kasymaliyev, highlighted the strategic importance of the project. He noted that Kyrgyzstan’s warehousing sector is still in its infancy and lacks facilities that meet international standards. “This strategic project addresses current challenges and holds great importance for the state. If the construction of the China-Kyrgyzstan-Uzbekistan railway is completed by 2030 and the Bedel checkpoint on the Kyrgyz-Chinese border begins operating at full capacity, Kyrgyzstan’s warehousing market will expand significantly,” Kasymaliyev said. He emphasized the necessity of preparing for growing import and export demands, adding, “Millions of tons of cargo are processed and transported globally every day. The construction of large warehouses, logistics centers, and hubs will drive economic development in Kyrgyzstan.”

Uzbekistan’s Foreign Trade Turnover Reaches $59.4 Billion in 2024

From January to November 2024, Uzbekistan’s foreign trade turnover (FTT) reached $59.4 billion, marking an increase of $2.1 billion or 3.6% compared to the same period in 2023, according to the Uzbek Statistical Agency. The volume of exports rose to $24.2 billion, a 4.4% increase compared to January-November 2023. Imports totaled $35.1 billion, growing by 3.0% over the same period. Kazakhstan emerged as one of Uzbekistan’s largest economic partners, following China and Russia. Factors contributing to this include a shared border, trade liberalization, and economic collaboration within the CIS free trade zone. Uzbekistan currently conducts trade with 195 countries, with significant FTT shares attributed to: China: 19.0% Russia: 18.0% Kazakhstan: 6.5% Turkey: 4.4% South Korea: 3.0% The Commonwealth of Independent States (CIS) countries accounted for 35.4% of Uzbekistan’s FTT during this period, reflecting a 3.0% increase from 2023. The growing economies of Uzbekistan’s trading partners in the CIS suggest a potential for increased demand for Uzbek exports. However, trade with non-CIS countries saw a decline. Uzbekistan’s trade share with other foreign nations dropped by 3.0% compared to the same period in 2023, comprising 64.6% of the total FTT.

Kazakhstan Opens Pavilion in Uzbek-Afghan Border Trade Center

Kazakhstan’s Ministry of Trade and Integration has announced the opening of a trade pavilion showcasing Kazakh products at the Termez International Trade Center, located in the town of Termez, Uzbekistan, near the Afghan border. The pavilion is expected to serve as a strategic platform for promoting Kazakh goods in the markets of Uzbekistan and Afghanistan. The Termez International Trade Center is a crucial hub at the crossroads of Central Asian trade routes, facilitating significant trade flows between Uzbekistan and Afghanistan. Opened on August 29, the center was inaugurated by Uzbek Prime Minister Abdulla Aripov and acting Afghan Deputy Prime Minister Abdul Ghani Baradar. The facility includes retail spaces, hotels, a medical center, and other amenities. Notably, it supports transactions in multiple currencies, such as U.S. dollars, euros, rubles, and yuan. Afghan citizens can visit and conduct trade at the Termez center for up to 15 days without requiring an Uzbek visa. Kyrgyzstan has also secured a presence at the Termez International Trade Center. As The Times of Central Asia previously reported, on November 11, the Kyrgyz Ministry of Economy and Commerce acquired a trade pavilion, providing a strategic foothold to expand Kyrgyzstan’s influence in the markets of Uzbekistan and Afghanistan. Kazakhstan and Kyrgyzstan have both removed the Taliban from their lists of terrorist organizations, aligning with broader efforts by Central Asian nations to deepen trade and economic ties with Afghanistan.