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A new domestic online marketplace, Teez, has commenced operations in Karaganda, the central city of Kazakhstan’s Karaganda region. The platform, offering next-day delivery, has opened pick-up points in 24 cities nationwide. On November 29, Kazakhstan’s Minister of Trade and Integration, Arman Shakkaliyev, visited the marketplace's main warehouse. Teez co-founder Linar Khusnullin informed the minister that the platform currently operates 40 pick-up points and plans to expand this network to 127. The marketplace offers 50,000 product types, and its customer application has already been downloaded by 170,000 users. The company’s warehouse spans 25,000 square meters, but by 2030, it aims to expand to a 120,000-square-meter facility. Teez aspires to become Kazakhstan’s leading e-commerce platform. Shakkaliyev highlighted the rapid growth of e-commerce in Kazakhstan, noting a 20% increase in electronic trade volume from January to October 2024 compared to the same period in 2023. He emphasized that Karaganda, with its central location and developed infrastructure, has the potential to become a vital trade and logistics hub not just for Kazakhstan but for the entire Central Asian region. The Times of Central Asia reported that in 2023, the volume of e-commerce in Kazakhstan exceeded 2.2 trillion KZT ($4.8 billion), accounting for 13% of all retail trade, a 0.5% increase from the previous year. The country aims to raise its share of e-commerce to 20% by 2030.
Market data from the Uzbek Republican Currency Exchange (UZCE) is now accessible on the Bloomberg Terminal, marking a significant step toward integrating Uzbekistan’s financial market into the global economy. Bloomberg users can now analyze real-time pricing and indicators for Uzbekistan’s currency, money markets, state securities, and derivatives. Expanding Accessibility The UZCE, which includes 35 local commercial banks, six brokerage firms, and one foreign custodian bank, serves as Uzbekistan’s primary platform for liquidity. It offers trading in approximately 20 instruments across various market segments. In 2023, the UZCE reported a total trading volume of $81 billion. By making this data available on Bloomberg, Uzbekistan aims to attract foreign investors by providing them with the tools to understand its financial market and assess trends more effectively. This transparency simplifies risk assessment and enhances decision-making for global market participants. Strengthening Market Confidence Rashid Usmanov, Director General of the Central Bank of Uzbekistan, highlighted the impact of this partnership, stating: “This partnership with Bloomberg will help participants in global markets to get up-to-date and accurate information from the UZCE in different segments of the exchange, thereby more effectively managing their assets. Increasing transparency and openness of data will strengthen market confidence and ensure an increase in liquidity.” The Central Bank of Uzbekistan’s market data is available via Bloomberg’s data license and the “B-PIPE” channel, providing real-time market information. This collaboration enhances the global visibility of Uzbekistan’s financial sector, positioning the country as a more attractive destination for international investment.
