• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00190 -0%
  • TJS/USD = 0.10837 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00190 -0%
  • TJS/USD = 0.10837 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00190 -0%
  • TJS/USD = 0.10837 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00190 -0%
  • TJS/USD = 0.10837 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00190 -0%
  • TJS/USD = 0.10837 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00190 -0%
  • TJS/USD = 0.10837 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00190 -0%
  • TJS/USD = 0.10837 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00190 -0%
  • TJS/USD = 0.10837 0.37%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
06 November 2025

Viewing results 1 - 6 of 10

Mirziyoyev Bets on the SCO to Boost Uzbekistan’s Security and Economy

Tianjin, China - The recent Shanghai Cooperation Organization (SCO) summit drew wide attention as leaders from across Eurasia convened to emphasize the Organization’s growing importance. For smaller members, the meeting was a chance to show commitment to regional cooperation and alignment with the bloc’s major powers. Uzbekistan, under President Shavkat Mirziyoyev, stood out by using the platform to outline his intention to strengthen engagement within the SCO to advance both economic development and security. Mirziyoyev’s speech stressed solidarity in the face of global uncertainty, institutional renewal to improve effectiveness, and deeper cooperation in areas such as security and nuclear policy. He also endorsed expanding membership, particularly from the Global South, while presenting proposals to boost trade, logistics, and investment. These priorities are consistent with Uzbekistan’s ongoing strategy of aligning its national agenda with the SCO’s broader evolution into a forum with Eurasian and global relevance. Reinforcing Multilateral Solidarity Uzbekistan’s solidarity with the SCO has been in the making for years, as Tashkent aligns parts of its security and economic strategy with the Organization’s framework. In his latest address, Mirziyoyev emphasized the role of solidarity amid rising instability: “A systemic crisis of trust, the escalation of conflicts, the weakening of multilateral institutions, and the fragmentation of the global trading system are undermining the foundations of the international architecture of security and stability. In these circumstances, mutual understanding and solidarity among the SCO member-states are not only a valuable asset, but also the key to preserving peace in our vast region.” While Russia emphasizes the SCO’s role in fostering multipolarity and China focuses on resilient supply chains, Uzbekistan is leveraging the principle of solidarity to safeguard its national interests - reducing dependence on any single power. Uzbekistan is positioning itself within the SCO to align its domestic priorities with broader SCO agendas shaped by Russia’s focus on security and China’s emphasis on economic initiatives. Expanding Membership and External Engagement Mirziyoyev underscored the SCO’s “openness,” identifying expansion as central to its continued development. He welcomed greater engagement with new members and partners, though he did not specify particular regions. Uzbekistan’s growing cooperation with countries such as Iran and Saudi Arabia demonstrates how this vision of openness is taking shape in practice. Tashkent has actively supported Iran’s accession to the SCO and recently signed agreements on transport corridors that connect Central Asia to Iranian ports on the Persian Gulf, facilitating greater trade with Iran. In parallel, deepening ties with Saudi Arabia - particularly through ACWA Power’s renewable energy projects, now among Uzbekistan’s largest foreign-funded ventures - illustrate Uzbekistan’s broader engagement with the Global South in the areas of connectivity and investment. These moves parallel Russia’s and China’s efforts to expand the SCO’s influence beyond its founding region. For Uzbekistan, expansion offers new avenues for trade, energy cooperation, and investment partnerships, while reinforcing its image as a bridge-builder. By publicly supporting this process, Mirziyoyev signaled that Uzbekistan expects wider membership to enhance both the Organization’s and its own standing. Institutional Alignment with the SCO A...

Tokayev Calls for Global Action at UN LLDC3 Summit in Turkmenistan

At the Third United Nations Conference on the Landlocked Developing Countries (LLDC3), held from August 5-8 in the Turkmen resort town of Awaza, Kazakhstan’s President Kassym-Jomart Tokayev urged the international community to deepen cooperation, enhance regional connectivity, and take decisive collective action in support of the 32 countries that lack direct access to the sea and remain on the periphery of global trade. A Global Call for Equality and Interconnectedness Speaking at the plenary session, Tokayev highlighted Kazakhstan’s leadership in advancing the LLDC agenda. In 2003, Almaty hosted the first UN conference on landlocked countries, which culminated in the Almaty Programme of Action (APoA). Two decades later, the president noted, structural barriers, such as limited market access, underdeveloped infrastructure, and high exposure to geopolitical shocks, remain largely unchanged. “Landlocked countries should be seen as equal and promising partners in global development,” Tokayev said. “Our voice must be louder and our cooperation deeper.” [caption id="attachment_34680" align="alignnone" width="300"] @akorda[/caption] The Awaza Action Programme: A Roadmap for 2024-2034 The centerpiece of LLDC3 was the adoption of the Awaza Action Programme for the coming decade, structured around five strategic priorities: structural transformation of economies, development of sustainable infrastructure, trade facilitation, regional integration, and resilience. Kazakhstan endorsed the plan and called for stronger political and financial support from transit countries, international institutions, and private investors. Tokayev emphasized the need for innovative financing tools to mobilize investment in transport, energy, and digital infrastructure. Addressing the Climate Challenge The president also highlighted the disproportionate climate-related vulnerabilities faced by LLDCs, including water scarcity, glacial melt, and desertification. He called for a balanced and inclusive approach to climate policy and invited participants to the Regional Environmental Summit, scheduled for April 2026 in Astana, to be co-hosted with the United Nations. Tokayev also pointed to Kazakhstan’s recent achievements in digital innovation and sustainability, citing the launch of the Alem.AI Artificial Intelligence Center and the commissioning of a new national supercomputer. “We are open to international scientific cooperation,” he said. [caption id="attachment_34681" align="alignnone" width="300"] @akorda[/caption] Central Asia as a Model of Regional Resilience Despite geographic constraints, Tokayev presented Central Asia as a case study in overcoming isolation through cooperation. “Geography does not determine destiny,” he said. “With political will, strategic investment, and international partnership, lack of access to the sea can become not a barrier but a source of growth.” Kazakhstan is investing heavily in transport corridors such as the Middle Corridor (Trans-Caspian International Route) and the North-South Corridor, strengthening its role in the Eurasian logistics network. Energy Diplomacy and Regional Projects On the sidelines of the conference, Central Asian leaders convened for informal talks, where they discussed priority areas of cooperation, including energy. Topics included development of Turkmenistan’s Galkynysh Gas Field, one of the world’s largest, and ongoing transport projects such as the Kazakhstan-Turkmenistan-Iran railway and the Turkmenbashi-Garabogaz-Kazakhstan border highway. According to the UN, trade costs in LLDCs are 74% higher than in coastal states, and cross-border shipping takes twice as long. Collectively, these countries account for only 1.2% of...

Halyk Bank Buys 49% Stake in Uzbekistan’s Click in Landmark Fintech Deal

Almaty - Kazakhstan’s Halyk Bank has announced it will acquire a 49% stake in Uzbek digital payments company Click for $176.4 million, marking one of the largest cross-border banking investments in Central Asia to date. The deal values Click at approximately $360 million, highlighting the growing importance of digital finance in the region’s rapidly evolving financial landscape. With over 20 million customers, Click is one of Uzbekistan’s most widely used payment providers. As part of the agreement, Click will also take a 49% stake in Tenge Bank, Halyk’s Uzbek subsidiary, for $60.76 million. The reciprocal structure of the deal is designed to foster tighter operational integration and shared technological infrastructure between the two institutions – a significant step toward regional financial harmonization. “This is a historic moment for Click. Partnering with Halyk Bank and expanding our capabilities through Tenge Bank represents a major step forward in delivering world-class digital financial services to millions of users,” said Ulugbek Rustamov, CEO of Click. “At the same time, the structure of the deal ensures Click retains its independence, continues to shape its strategic vision, and remains a proud national brand.” Strategic Push Toward Integration The announcement comes as both Kazakhstan and Uzbekistan continue efforts to modernize their financial systems and ease cross-border payments. Regional trade between the two nations has grown steadily in recent years, with bilateral trade turnover reaching $4.22 billion in 2024, up from $2.9 billion in 2020. Halyk Bank, already Kazakhstan’s dominant financial institution with a 29% market share and more than 10.9 million active retail clients, views the investment as a strategic step towards capturing Uzbekistan’s booming digital economy. Click, meanwhile, gains regulatory grounding via Tenge Bank and access to Halyk’s technology and ability to raise capital from its public listing on the London Stock Exchange. Uzbekistan, whose GDP grew by 7.2% in the first half of 2025, continues to open its financial sector to foreign capital – a key pillar of President Shavkat Mirziyoyev’s economic reform program. Competing Power Structures? This fintech alliance also throws an intriguing light on Central Asia’s most influential business families. Halyk Bank is majority-owned by Timur Kulibayev and his wife Dinara, the daughter of former Kazakh president Nursultan Nazarbayev, widely viewed as Kazakhstan’s most powerful couple. Their expanding presence in Uzbekistan via Click and Tenge Bank may once have had the potential to ruffle feathers amongst Uzbekistan’s elite. The fact that the deal has been allowed to proceed this far is in itself an acknowledgement of the shared interests of regional powerbrokers. A Shift in Regional Strategy The deal represents a strategic reversal for Halyk Bank. In recent years, the bank has divested from its Kyrgyz and Tajik operations, selling 100% of its Kyrgyz subsidiary to oligarch Aidan Karibzhanov in 2024 and liquidating its Tajik entity in 2022. The Click acquisition signals a renewed focus on Uzbekistan, with the potential to make the country Halyk’s primary external growth market. This renewed push comes as Halyk cements its dominance in Kazakhstan, where it controls...

Turkic States Push Digital Integration and Organic Farming in Agriculture Sector

The fourth meeting of agriculture ministers from the Organization of Turkic States (OTS) took place on June 25 in Cholpon-Ata, in Kyrgyzstan’s Issyk-Kul region, with a strong focus on organic agriculture and digital transformation in the sector. Strengthening Regional Agricultural Cooperation Agriculture ministers from Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, Uzbekistan, and Hungary convened to reaffirm their shared commitment to sustainable agriculture and explore strategies for deepening regional cooperation. Central to the discussions was the promotion of organic farming as a tool for ensuring food security, preserving natural resources, and adapting to climate change. The ministers unanimously supported Kyrgyzstan’s proposal to designate Cholpon-Ata as the “Agricultural Capital of the OTS” for one year, beginning in September 2025. A major outcome of the meeting was the decision to establish a Digital Agro-Platform for OTS member states. This digital initiative is designed to simplify market access for farmers and agribusinesses, reduce trade and customs barriers, and increase transparency in agricultural supply chains. The platform aims to streamline trade within the region and bolster exports. The ministers also endorsed the promotion of a unified regional label, “OTS-Made”, for agricultural and food products originating from member countries, with the goal of strengthening brand identity and consumer trust. Kyrgyzstan’s Organic Agriculture Ambitions During the forum, Kyrgyzstan’s Deputy Chairman of the Cabinet of Ministers and Minister of Water Resources, Agriculture and Processing Industry, Bakyt Torobayev, announced a national organic agriculture development program for 2025-2029. The program sets ambitious targets: expanding certified organic farmland from the current 63,000 hectares (5.25% of arable land) to 200,000 hectares by 2029 and transitioning the Issyk-Kul and Naryn regions entirely to organic farming methods. In addition to increasing the land under organic cultivation, the government aims to raise the share of organic products to 25% of total agricultural output and increase the proportion of organic goods in agricultural exports to 25%. “Kyrgyz agricultural products are environmentally friendly, as they are produced in favorable agro-climatic conditions, on mountain pastures irrigated with clean glacial waters, and on fertile lands,” said Torobayev. By positioning organic agriculture as a regional priority and embracing digital tools, the OTS member countries are taking coordinated steps to modernize their agricultural sectors and ensure long-term food and environmental sustainability.

XI Jinping’s Five Points: How China Is Looking To Reshape Central Asia

The second China-Central Asia summit on June 17, held in Astana, Kazakhstan, underscored the strengthening ties between China and the region. This event marked a significant milestone in solidifying the China-Central Asia cooperation framework with the signing of the Treaty on Eternal Good-Neighborliness, Friendship, and Cooperation. Experts note that Central Asian countries, once unable to adopt an intra-regional treaty, collectively reached this broader agreement with China. The summit also featured a range of side events, including the Energy Forum “Energy of Central Asia - China,” the Forum on Humanitarian Exchange, the Second Forum on Industrial and Investment Cooperation, and the Central Asia-China Business Council meeting, among others. These gatherings highlighted cooperation in energy, trade, and cultural exchange, reflecting China’s deepening influence in the region. Kazakh President Kassym-Jomart Tokayev praised China’s approach to equal partnership, stating that relations between the two nations are “stable and free from the negative impacts of geopolitical challenges and shocks as well as the international circumstances. China has never imposed any political conditions regarding cooperation with Kazakhstan.” “This is a very important point, Kazakhstani Sinologist Adil Kaukenov explained, “as the head of state, being at the forefront of Kazakhstan's foreign and domestic policies, faces political games, manipulation, and pressure at various levels, which require considerable restraint, experience as a statesman, and popular support to overcome.” During the summit, the heads of the Central Asian states articulated their priorities for cooperation with China. Kazakhstan emphasized projects like the creation of a joint cargo terminal in the port of Kuryk on the Caspian Sea, cooperation in the fields of nuclear energy and artificial intelligence, and counteracting international cybercrime. Kyrgyzstan focused on security, transport, e-commerce, energy, and tourism. Tajikistan prioritized industrial development, trade, food security, and green economy initiatives. Uzbekistan, meanwhile, sought the further integration of Afghanistan into the region, and proposed an “Electronic Silk Road” trade platform, and the development of a long-term strategy called the “Central Asia-China Industrial and Infrastructure Belt.” Chinese President Xi Jinping used his address to outline five key points that shape China’s vision for the future of its relationship with Central Asia. “Our cooperation is rooted in more than two thousand years of friendly relations, consolidated by the solidarity and mutual trust that has been established for 30 years since the establishment of diplomatic relations, and has made great progress thanks to mutually beneficial cooperation in the new era,” Xi stated in his keynote speech. According to Xi, China considers Central Asia one of the priorities of its foreign policy, and this building of peaceful, inclusive partnerships was marked by the historical milestone of the signing of the treaty at the summit. “We will improve the architecture of cooperation, which is characterized by pragmatism, efficiency, and deep integration,” the Chinese president said, adding that 2025–2026 have been declared the Years of High-Quality Development of China-Central Asia Cooperation. This initiative will focus on trade, transport connectivity, green energy, agriculture, and technology. Notably, China pledged 1.5 billion yuan ($208 million) in grants for projects aimed...

Central Asia Prioritizes Food Security Amid Shared Challenges

Food security remains a top priority for Central Asian nations, yet they face shared challenges that threaten regional stability. Deteriorating water resources, climate change, reliance on external food markets, and geopolitical pressures have intensified the need for regional cooperation in addressing these issues. Bilateral and Regional Efforts Talks between the presidents of Uzbekistan and Kazakhstan, Shavkat Mirziyoyev and Kassym-Jomart Tokayev, on August 8 underscored the importance of collaboration. The two leaders witnessed the signing of an agricultural cooperation agreement between their respective ministries. This followed Tokayev’s November 2022 visit to Tashkent, which was particularly productive in advancing food security. Agreements included joint production of mineral fertilizers and a bilateral cooperation program worth $1.3 billion aimed at boosting mutual trade and developing agricultural projects. Trade within Central Asia has grown significantly, with Uzbekistan’s trade volume with its neighbors nearly doubling between 2017 and 2019. Kazakhstan, the region’s leading grain supplier, plays a central role: • Uzbekistan accounts for 60% of Kazakhstan’s grain exports. • Tajikistan consumes 18%. • Kyrgyzstan takes 14%. • Turkmenistan absorbs 6%. Despite this growth, experts highlight the untapped potential for expanding trade and cooperation in agriculture. Common Challenges Food security challenges are compounded by shared threats, including demographic growth and dwindling water resources. The region’s population has reached 75.5 million, while irrigated land per capita has decreased by more than 25% over the past 15 years. Water availability in the Syr Darya and Amu Darya river basins—crucial for irrigating 10 million hectares - faces a projected 15% decline. This is exacerbated by the alarming retreat of glaciers that feed these rivers, jeopardizing long-term agricultural sustainability. The Need for Regional Solutions While each Central Asian country primarily relies on its resources to address food security, the interconnected nature of these challenges calls for a collective approach. Enhanced regional cooperation is essential to develop resilient agricultural systems, manage water resources effectively, and ensure sustainable growth in food production.