• KGS/USD = 0.01190 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09438 0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01190 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09438 0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01190 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09438 0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01190 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09438 0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01190 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09438 0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01190 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09438 0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01190 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09438 0.21%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01190 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09438 0.21%
  • UZS/USD = 0.00008 0%

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Afghan and Emirati Companies Making Use of Turkmenistan Stock Exchange

Last week 38 deals were registered at Turkmenistan's State Commodity Exchange. Their combined value amounted to over $7 million, the Turkmen government is reporting. It is reported that businesses from the United Arab Emirates, Afghanistan, and Uzbekistan used foreign currency to purchase aviation kerosene and polypropylene produced by the national oil company Türkmennebit. In addition, bed linens, denim and cotton fabric products, cotton yarn, and Portland cement were sold for foreign currency to the UAE, Afghanistan, and Kyrgyzstan. For the domestic market, Turkmen businesses purchased polypropylene, blended paraffin, base oil, carbon black and iodine, bischofite, sodium sulfate, float sheet glass, and handmade carpets. The total value of the transactions amounted to over $150,000.

French Cargo Airline Plans to Use Uzbekistan’s Navoi Airport

CMA CGM Air Cargo, a French cargo airline, plans to deliver cargo from China to Europe via Uzbekistan. The carrier intends to use Navoi Airport as a transit point. Representatives of Uzbekistan Airports, Uzaviation, and Uzaeronavigatsia Center recently met with the French CMA CGM Air Cargo delegation, headed by General Director Damien Mazauder, in Tashkent. The airline will carry out five flights a week on Airbus A330 aircraft, and Navoi Airport will become a transit point for technical landings, refueling, and crew changes. CMA CGM Air Cargo is headquartered in Paris; it was established in 2021 as an air division of the CMA CGM transportation group.

Launch of Flights Between Almaty and Nukus

From 1 June, Uzbekistan Airways will begin operating regular flights between Almaty in Kazakhstan and Nukus, the main city of Uzbekistan’s north-western Karakalpak Autonomous Region. Flights on a 174-seat A320 aircraft, will operate twice a week, on Wednesdays and Saturdays. In welcoming the move, the Ministry of Transport of Kazakhstan said that the new air route would greatly enhance the development of trade, economic and business cooperation between Kazakhstan and Uzbekistan. The introduction of the flights will also benefit tourism, making it easier and quicker to visit the region’s renowned Savitsky Museum, home to one of the world’s best collections of Soviet art; the Muynak Ship Cemetery on the fast-disappearing Aral Sea, and the ancient city of Mizdakhan. The total number of international flights from Kazakhstan now stands at 567 per week on 121 air routes, including direct flights to 28 countries.  

Germany Increases Investment and Trade in Kazakhstan

In a report on the implementation of Kazakh-German projects at a meeting of the Investment Promotion Council on 24 April, Kazakh Invest stated that investment from Germany in Kazakhstan reached an all-time high of $770 million in 2023. To date, the pool of German initiatives planned for Kazakhstan includes 63 projects with a value of around $54.4 billion and the potential to create 14.7 thousand jobs. The 32 projects already in operation, have created some 6,000 permanent posts. Bilateral trade turnover between Kazakhstan and Germany is also very positive , having leapt by 24.7% in 2022 and 41.3% in 2023. Kazakhstan, as its key partner in Central Asia, currently ranks as one of Germany’s top 50 trading partners.

Kyrgyz Businesses Make Play to Raise Profile in America

Kyrgyzstan's ambassador to the United States and Canada, Baktybek Amanbaev, recently met with the U.S. Chamber of Commerce's chief representative for Central Asia, Jennifer Miel, to discuss stepping up the nations' trade and economic ties. Kyrgyzstan's foreign ministry reports that ambassador Amanbaev told Ms Miel about the country's resource potential, as well as opportunities for private business development in Kyrgyzstan. According to Amanbaev, Kyrgyzstan is particularly keen to work with American investors on hydropower, mineral development, agriculture and textile projects. American companies already working in Kyrgyzstan include General Electric, Visa, Coca-Cola, Valmont, Medtronic and Borusan. According to Kyrgyzstan's National Statistical Committee, in the first nine months of 2023 Kyrgyzstan imported from the U.S. goods worth more than $300,000, predominantly cars and car parts. Kyrgyzstan also buys spare parts for bulldozers, excavators and trucks from American suppliers. In turn, Kyrgyz businesses export textiles, antiques, wool and animal products to the U.S. Kyrgyz entrepreneurs sell most of their goods in the U.S. through Amazon, Walmart and Ebay. The Kyrgyz Chamber of Commerce has told The Times of Central Asia that local businesses aiming to do more business in America have approached the Chamber to expand their contacts and find potential partners. The Chamber has already begun work on opening Kyrgyz trade missions in major U.S. cities, and negotiations with local authorities are underway. Soon Kyrgyz business will be represented in Los Angeles, Chicago and Miami. A few weeks ago, Kyrgyzstan's North American ambassador Amanbaev met with an executive of the satellite internet provider Starlink, to discuss providing the Kyrgyz public with high-speed internet via American Starlink satellites.

Kazakhstan and China to Expand Trade and Economic Cooperation

Further steps to eliminate restrictions in mutual trade, remove administrative barriers, and simplify customs procedures were discussed by the Prime Minister of Kazakhstan Olzhas Bektenov and Chinese Ambassador to Kazakhstan Zhang Xiao on March 13th. Related issues included the expansion of Chinese cargo transit via Kazakhstan along the Trans-Caspian International Transport Route, and plans to increase the supply of Kazakh agricultural produce to the Chinese market. Trade turnover between Kazakhstan and China grew by 30% last year to $31.5 billion. Over 9 months in 2023, Chinese investments in Kazakhstan’s economy amounted to $1.4 billion and 45 joint Kazakh-Chinese projects worth over $14.5 billion are currently under implementation. In January-February 2024, the volume of Chinese container traffic through Kazakhstan increased 2.6-fold, demonstrating the potential for further expansion, joint investment, and diversification of trade. The Kazakh prime minister hailed the rise in trade and economic partnership between the two countries and the successful operation of some 3,000 joint companies in Kazakhstan, with the added recommendation that future joint Kazakh-Chinese projects focus on marketable high-tech products. The Chinese ambassador confirmed the potential for cooperation in the above alongside projects on agriculture and energy transfer.