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Representatives of the railway administrations of Uzbekistan, Kyrgyzstan, Turkmenistan, Azerbaijan, Georgia, and Turkey convened in Tashkent on May 28 and 29 to discuss the development of freight transportation along the CASCA+ transport corridor. CASCA+ is a joint initiative of the state railways of Azerbaijan, Georgia, Kyrgyzstan, Turkmenistan, Turkey, and Uzbekistan. The “+” sign indicates a willingness to accept new potential participants in achieving the goal to connect transport routes to Southeast Asia, particularly China, with Europe. As reported by Uzbekistan’s Ministry of Transport, the agenda focused on projects to develop the CASCA+ transport corridor, with representatives of all railway administrations supporting the Uzbekistan Railways’ initiative to create a consortium to coordinate related activities. Proposals were also forwarded to establish the safe transportation of perishable goods such as fruit and vegetables in refrigerated containers along the CASCA+ corridor and to create an online monitoring system for the location of wagons and containers travelling along the route. The emphasis on refrigerated transportation aligns with recommendations made in March by President Shavkat Mirziyoyev at a government meeting on increasing Uzbek agricultural exports.
The Central Asia – GCC Investment Forum met for the first time in Saudi Arabia’s capital Riyadh on 29 May. The Gulf Cooperation Council (GCC) is a political and economic alliance of six Middle Eastern countries: Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman. The forum provided opportunities for representatives of Central Asian governments and business sectors and GCC countries to present economic and investment proposals, exchange views on issues concerning bilateral and multilateral cooperation, and discuss the implementation of strategically important projects in various fields. Delegates also participated in thematic panel sessions focusing on agriculture and food security, mining and metals industry, development and infrastructure, renewable and green energy. Kazakhstan’s Foreign Ministry, the Governor of the Astana International Financial Centre (AIFC) Renat Bekturov, noted the strategic importance of intensifying cooperation between the public and private sectors of the two regions. In his remarks, he emphasized the enormous potential of the Gulf market for strengthening trade and economic relations with Kazakhstan, as well as the unlimited prospects for expanding investment partnerships. With regard to other sectors, Bekturov spoke of the significant opportunities for Central Asian and GCC countries to expand collaboration in green energy, food security, transport and logistics, mining, petrochemicals, agriculture, finance, and tourism.
The Nomadiq Innovation Hub has now officially opened in Singapore. A private initiative, the aim of the hub is to promote Central Asia as a single region in Singapore and advance cooperation in IT entrepreneurship. At the opening ceremony, Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, Zhaslan Madiev remarked that the new hub was designed to attract new start-up projects and unite Turkic countries’ efforts to expand digital solutions. “We have high hopes for the Nomadiq Innovation Hub in achieving goals that represent the interests of Kazakhstan and in particular, increasing the export of Kazakh IT products and attracting investment to our country,” the minister said. “Kazakhstan already has significant experience in developing and supporting start-ups and innovative projects. For example, the Astana Hub International Technology Park for IT Start-ups, launched five years ago, has now become one of the leading technology parks in Central Asia with 1,403 participants, including 388 foreign companies.” Outlining the project’s objectives, Olzhas Zhienkul, Chairman of the Board of Nomadiq Innovation Hub, announced, “Our main goals include the provision of in-depth and personalized support to selected projects, helping build sustainable business models and developing customized growth strategies. We are also focused on overcoming barriers to entry into international markets and will strive to position our region as a promising platform for venture investors.” Nomadiq is Kazakhstan’s third overseas innovation hub, joining the Silkroad Innovation Hub in the USA, and that in Riyadh, Saudi Arabia, named after the great philosopher al-Farabi.
The inaugural meeting of the Board of Governors of the Turkic Investment Fund (TIF) was hosted by Istanbul on 21 May. The Turkic Investment Fund, the first financial institution for economic integration of the countries of the Turkic world was officially established by Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan, and Turkey on 16 March 2023 at the summit of the Organization of Turkic States in Ankara. With an initial capital of $500 million, TIF’s main objective is the development of economic and commercial relations between the Turkic countries. According to estimates by the Turkish Ministry of Finance, by the end of 2024, the Turkic states will occupy an important place in the global economy, reaching an economic volume of $1.9 trillion to the benefit of a population of 178 million. Commenting on the importance of Turkic integration for his country, Deputy Prime Minister - Minister of National Economy Nurlan Baybazarov and Kazakhstan’s representative on the TIF Board of Governors, said: “The Government of Kazakhstan fully supports the start of the Fund’s operation. I am confident that it will become a catalyst for economic growth and development of the participating countries, contribute to the deepening of investment cooperation and effective interaction in the implementation of joint projects.” The key sectors to receive funding include infrastructure, renewable energy, agriculture, tourism, and IT.
Kazakhstan aims to increase non-resource exports to $37.7 billion in 2024 and by 2025, to $41 billion. Announcing the government’s plans on 21 May, Prime Minister Olzhas Bektenov, Bektenov emphasized the importance of strengthening support for export-oriented enterprises through the provision of consulting services, information support and assistance in entering new markets and explained: "We need to increase the production and export of high value-added goods. We must actively support domestic producers and exporters." At the meeting, Minister of Trade and Integration Arman Shakkaliyev also reported on measures taken to increase non-resource exports. In 2023, the country’s non-resource exports increased by 3%, with 278 new products added to the list. The expansion of non-resource exports encompassed 135 countries. Exports to China rose by 8%, South Korea by 26%, and Vietnam by 46%. Kazakhstan also increased its export of processed agricultural products: flour by 1.1%, sunflower oil by over 55.5%, and beverages by 42.8%. The Ministry of Trade plans to expand the exports of finished products to China 2.5-fold, to $12.5 billion, and increase supplies of high-margin goods - chilled lamb, poultry meat and by-products - to Middle Eastern countries. Priority will also be given to expanding exports of Kazakh food and organic products to highly competitive EU markets.
On May 16, Malaysian Prime Minister Anwar Ibrahim made an official visit to Kazakhstan to engage in talks with President Kassym-Jomart Tokayev. The meeting focused on expanding cooperation in political, trade, economic, investment, and humanitarian spheres. In his opening speech, Tokayev hailed Malaysia one of Kazakhstan's most important and reliable partners in Southeast Asia, and continued: “Kazakhstan and Malaysia have a history of long-standing ties of friendship and cooperation - so I believe your visit will provide a very strong impetus to the further development of ties between our countries. We are ready to make additional efforts to advance our interaction and cooperation in many important areas.” The Kazakh president welcomed the participation of Malaysian companies in the implementation of new projects and promised necessary support from the Government of Kazakhstan. In addition, he commended the 30-day visa-free regime which benefits citizens and in particular, business men and women, travelling and working between the two countries, and noted the convenience of direct flights. Regarding cooperation in education, attention was drawn to the fact that more than 500 Kazakh students are currently studying at Malaysian universities. In turn, Anwar Ibrahim stressed the importance of strengthening Malaysia’s trade and economic cooperation with Kazakhstan, and stated: “We can make the most of growing economic relations. We have created a huge commodity market in Malaysia. Our country has now become a regional hub for the production of computer chips with significant investments from the USA, Europe, especially Germany, and China. I think we can share this experience and at the same time, learn from your successful transformations of various fields.”
