Regional integration - The Times Of Central Asia

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Empowering Trade and Women Entrepreneurs: Kazakhstan’s Digital Leap for the Turkic States

The head of the Presidium of the National Association of Women Entrepreneurs of Kazakhstan (ASMAR), Lazzat Ramazanova, who currently chairs the Council of Women Entrepreneurs of Turkic States, has reported on the development of a single digital ecosystem for business in the five countries which form the Organization of Turkic States (OTS). This platform is expected to expand international trade with countries outside of the Organization. This year, Kazakhstan chairs the Council of Women Entrepreneurs of Turkic States, which operates under the OTS and includes five member countries: Kazakhstan, Kyrgyzstan, Azerbaijan, Turkey, and Uzbekistan. Three more countries - Hungary, Northern Cyprus, and Turkmenistan - are represented in the Organization with the status of observer states. One of the goals of Kazakhstan's chairing of the OTS was to strengthen business ties between Turkic states. To this end, the Turkic Business Hub initiative was implemented, an online platform that will become an important element of integration and cooperation in the region. Speaking at the close of the meeting in Astana, Lazzat Ramazanova told those in attendance: “Today, within the framework of the General Assembly of Women Entrepreneurs of the Turkic World, an ambitious initiative was put forward to create a unified digital platform for business. Kazakhstan was the initiator and implementer of this idea, as our country is now among the top 25 most digitized countries. The platform has already been developed, and in Kazakhstan, we are already working with our ministries on the integration of info-systems. Now, we will work with the governments of Turkic states so that the same integration takes place with their info-systems. In other words, the software has been created, and we are working to bring other countries into it.” The main advantage of a Turkic Business Hub is it ensures business security when choosing a partner in a given country. This is because when a user of the platform registers as a potential participant in trade relations, all information about them as a business entity is collected. Artificial intelligence automatically scans the fiscal (tax and customs) authorities and runs the business' credit history through the hub's integration with the databases of banks. The banks have their own interest in this system, since using it they can find clients and borrowers who have passed strict compliance checks. AI can also monitor the presence or absence of lawsuits from former partners of the entity that is attempting to register. “In the case of detection of negative information, the entity is denied registration, i.e., from there start, there will be no 'scam' companies or unscrupulous counter-parties on the platform," Ramazanova explained. "They will immediately be 'canceled' by the artificial intelligence based on the data from tax, customs, and other state services. But the most important thing is that in case of rejection, AI will send such the rejectee a complete summary of the reasons why they were denied registration, so the business will know what they need to correct to join the system. Once business entities that have no...

Geopolitics Economic Growth Regional integration Economic Cooperation Government Organization of Turkic States

OTS Countries Take Steps Towards Turkic Integration

On October 18, Bishkek hosted the 13th meeting of the Organization of Turkic States (OTS), wherein Ministers of Economy and Trade aimed to strengthen economic cooperation between the OTS member states. The OTS, currently comprising Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, Uzbekistan, and Turkmenistan, with Hungary and the Turkish Republic of Northern Cyprus as observers, was founded in 2009 to foster comprehensive cooperation among Turkic-speaking nations. During the meeting, Chairman of the Cabinet of Ministers of Kyrgyzstan, Akylbek Japarov, stated that in recent years, Kyrgyzstan's trade turnover with the OTS member states has grown by almost 62%, with Kyrgyz exports increasing by 54.6%, and imports by 66%. The Deputy Prime Minister - Minister of National Economy of Kazakhstan, Nurlan Baibazarov, emphasized Kazakhstan’s adherence to the development of Turkic integration and announced that the "Turkic Investment Fund created within the OTS demonstrates a common desire to expand economic and investment cooperation, implement joint investment projects, and attract capital, technology, and talent for our countries' dynamic growth and prosperity." OTS ministers supported Kazakhstan's initiatives to create a Green Finance Council, a Council of Central (National) Banks of the OTS member states, and the inauguration of the Turan Special Economic Zone in the Kazakh city of Turkestan, where the next meeting will be held. In January-August 2024, trade between Kazakhstan and the OTS countries amounted to $7.2 billion, and according to the Turkish Ministry of Finance, by the end of 2024, the Turkic states are poised to play an important role in the world economy, reaching an economic volume of $1.9 trillion and a population of 178 million. As previously reported by The Times of Central Asia, the Turkic Investment Fund, with an authorized capital of $1 billion, will begin financing major joint projects of the OTS member countries from January 2025.

C5 Regional integration

Balancing Regional Integration Amid Global Rivalries

Central Asia has become a focal point for world and regional powers such as China, Russia, the European Union, the United States, and Turkey. Amid geopolitical uncertainty and a shifting global order, regional cooperation seems to be a top priority for Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, and Tajikistan in their foreign policy. The problem, however, is that the absence of a unified regional identity among Central Asian nations poses a major obstacle to their ambitions to strengthen regional integrations. They have different views on their regional identity due to their unique cultures, histories, politics, and economies. But in spite of that, on June 9, in the Kazakh capital of Astana, leaders of the five Central Asian countries gathered to discuss closer economic cooperation, stability and security in the region. They sought to expand ties in trade, industry, transport and logistics, energy, agriculture, as well as in the water management. As a result of the summit, regional leaders signed several key agreements, including the Roadmap for development of regional cooperation for 2025-2027, as well as the Conceptual framework of development of regional cooperation Central Asia 2040. These documents indicate that the regional integration will be a long-term process that will last for decades. In the meantime, Central Asian states will almost certainly continue strengthening bilateral ties. The Consultative Meetings of the leaders of Central Asian countries gave Kazakhstan and Uzbekistan another opportunity to deepen cooperation in various fields. The two nations, who signed an agreement on allied relations in 2022, announced their plans to adopt a strategic partnership program until 2034, and also to jointly launch several big economic and energy project. Prior to the meeting in Astana, presidents of Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, and Tajikistan held talks with Azerbaijani leader Ilham Aliyev. They were also scheduled to meet with Japanese Prime Minister Kishida Fumio, but he canceled his visit to Astana after the Japan Meteorological Agency issued a warning of a potential earthquake in the Nankai Trough. Unlike him, Josep Borrell, Vice-President of the European Commission and High Representative of the European Union for Foreign Affairs and Security Policy, visited Central Asia in early August. He traveled to Kazakhstan and neighboring Kyrgyzstan– a country that signed the Enhanced Partnership and Cooperation Agreement with the European Union on June 25. Although both nations are members of the Russian-led Eurasian Economic Union (EAEU), and the Collective Security Treaty Organization (CSTO) Moscow’s preoccupation with the war in Ukraine has allowed other actors, including the European Union, to strengthen its presence in the strategically important region. While the EU’s goals in Central Asia are mainly related to energy, Japan’s plans to expand cooperation with the five regional countries serve as Tokyo’s strategic tool to counterbalance China's growing influence in the region. Azerbaijan, on the other hand, seeks to create a strategic energy bridge linking Central Asia and Europe via the South Caucasus. That is why Baku’s collaboration with Central Asian countries in the energy sector has become more crucial than ever. It is no surprise...

Regional integration

High-Profile Speakers Open B5+1 Forum in Almaty

The ‘B5+1’ platform – a group of countries comprising the five Central Asian republics and the United States – took an important step forward today, with the launch of the inaugural B5+1 Forum in Almaty. Instrumental in the formation of the B5+1 group has been the Center for International Private Enterprise (CIPE), which aims to develop public-private partnerships in the Central Asia region. This new business platform has been created to help international and local companies to capitalize on opportunities in global business and trade – while assisting the six governments in attracting more direct foreign investment. The theme of the opening day was “Looking within Central Asia”. It began with a panel discussion on boosting economic integration in the Central Asia region, drawing from the area's distinctive context, and successful examples like ASEAN and the EU. Recommendations, from panelists including Richard E. Hoagland of the Caspian Policy Center and Alisher Shaykhov from Uzbekistan’s National Venture Capital Fund, included integrating the region's value chain into the global economy, and promoting collaborative investment initiatives. The second panel offered perspectives from Central Asia’s business leaders. Panelists including B5+1 representatives Aziza Shuzheyeva (Kazakhstan, e-commerce) and Manusurjon Rasulev (Uzbekistan, agribusiness) gave insights into the region’s high-profile industries. Speakers advocated for policy synchronization in these sectors, as well as in tourism and trade, as a means to boost regional growth. For the third panel, government officials voiced their support for enhancing public-private dialogue. Tajikistan was represented by its deputy minister for economy Ahliddin Nuriddinzoda; his counterpart Ainura Usenbekova spoke on behalf of Kyrgyzstan, and Turkmenistan’s minister of finance Serdar Jorayev also spoke at length. Their focus was on national reforms and regional integration. The B5+1 Forum forms part of CIPE’s program called “Improving the Business Environment in Central Asia” (IBECA). CIPE themselves are affiliated to the US Chamber of Commerce – the catalyst behind the B7 and B20 platforms – and receive funding from the US Department of State. The B5+1 Forum continues tomorrow, Friday 15 March, with a thematic day dedicated to “Central Asia’s place in the world economy”.