Trade - The Times Of Central Asia

Viewing results 1 - 6 of 583

Kazakh and Kyrgyz Prime Ministers Discuss Trade, Transport, and Water Cooperation

On February 24, Kazakhstan’s Prime Minister Olzhas Bektenov held talks in Astana with Adylbek Kasymaliyev, Chairman of the Cabinet of Ministers of Kyrgyzstan. The visit marked Kasymaliyev’s first official foreign trip since his appointment as Kyrgyzstan’s prime minister in December last year. Expanding Trade and Economic Cooperation The discussions covered trade, transit, water and energy cooperation, investment, and cultural ties, according to the Kazakh government’s press service. Bektenov noted that bilateral trade reached $1.7 billion last year, underscoring Kazakhstan’s role as one of Kyrgyzstan’s key trading partners. Kasymaliyev reaffirmed both governments' commitment to raising trade volume to $3 billion by 2030, a goal set by the presidents of both countries. He also revealed that Kazakhstani companies invested nearly $49 million in Kyrgyzstan’s economy in the first nine months of 2024. New Industrial Trade and Logistics Complex Kasymaliyev emphasized the importance of the Industrial Trade and Logistics Complex at the Kyrgyz-Kazakh border, which aims to streamline cargo transportation and enhance trade efficiency. The complex, located near the Karasu and Ak-Tilek road checkpoints, will be one of the largest cargo hubs in Central Asia, facilitating consolidation, processing, and distribution of goods. Land plots have already been allocated, and the Alatau industrial zone has been established in Kazakhstan’s Zhambyl region to support the project. Energy Cooperation and Food Security Kasymaliyev highlighted the potential duty-free supply of Kazakh oil to Kyrgyzstan, which would bolster Kyrgyzstan’s energy security and lower fuel costs for consumers. Additionally, both sides discussed building a trade and logistics warehouse in Kazakhstan’s Almaty region to store and distribute fruits and vegetables, ensuring stable fresh produce supplies and improving food security. Kasymaliyev stressed that these initiatives would create jobs, attract investment, and strengthen economic cooperation. Improving Transport and Border Infrastructure In the transit and transport sector, both governments focused on modernizing automobile checkpoints to boost cargo capacity at the Kazakh-Kyrgyz border. Water Cooperation Water resource management was another key topic, particularly irrigation water supplies from Kyrgyzstan to Kazakhstan for the upcoming growing season. Discussions centered on the Shu (Chu) and Talas rivers, which are crucial for agriculture in both countries. Tourism and Education The talks also explored expanding cross-border tourism, including: Developing eco-routes Improving active tourism infrastructure Attracting investment in the hotel industry Additionally, the two leaders discussed preparations for opening branches of Kazakh universities in Kyrgyzstan to enhance educational cooperation. The meeting underscored Kazakhstan and Kyrgyzstan’s commitment to deepening economic, energy, and infrastructure ties, while also addressing key water and environmental concerns. The successful implementation of these initiatives will boost regional integration and economic growth for both nations.

China Trade Regional Cooperation e-Commerce International trade

Kazakhstan and China Set to Expand Trade and E-Commerce

Trade between Kazakhstan and China continues to grow, reaching $43.8 billion in 2024, according to China’s General Administration of Customs. Kazakhstan’s exports to China amounted to $15.8 billion, marking a 9% increase from the previous year. These figures were announced by Han Chunlin, China’s newly appointed ambassador to Kazakhstan, during a meeting with Kazakh Minister of Trade and Integration Arman Shakkaliyev on February 8. “This trend confirms our steady progress toward the ambitious goal of doubling bilateral trade turnover in the near future,” the ambassador stated. Strengthening Trade and E-Commerce Cooperation The meeting focused on expanding Kazakh-Chinese trade and economic cooperation, with particular emphasis on e-commerce platforms. Shakkaliyev highlighted that bilateral trade reached a historic high in 2024 and reaffirmed Kazakhstan’s commitment to diversifying its exports while expanding the range of products supplied to China. He also announced plans for trade and economic missions in 2025, alongside Kazakhstan’s participation in major exhibitions in China. A key discussion point was the development of online trade through leading Chinese e-commerce platforms, including JD.com, Alibaba, and Douyin. Kazakhstan’s Growing Presence in Chinese E-Commerce Alibaba: Launched in 2022, Kazakhstan’s dedicated section on Alibaba now includes 290 domestic companies offering over 7,500 products. Total sales on the platform have already surpassed $260 million. JD.com: In 2023, JD.com opened a Kazakhstan section, featuring over 60 products. Revenue from Kazakhstani goods sold on the platform grew from RMB 1 million in 2023 to RMB 1.3 million in 2024. Kazakhstan’s e-commerce industry has seen rapid growth in recent years. According to the Ministry of Trade and Integration, online transactions from January to November 2024 totaled approximately 3.2 trillion KZT (over $6 billion), accounting for 14.5% of total retail trade. As Kazakhstan strengthens its trade ties with China, digital commerce is expected to play an increasingly important role in bilateral economic relations.

Afghanistan Trade Bilateral Trade Economic Cooperation Investment Projects

Uzbekistan and Afghanistan Sign $4.5M Trade Deal as Economic Ties Grow

Business representatives from Uzbekistan and Afghanistan have signed a $4.5 million trade agreement, Tasnim News reported on February 3. Afghanistan’s Ministry of Industry and Trade announced the deal, stating that it was signed by private sector representatives from both countries. Afghanistan is Uzbekistan’s fifth-largest export market. Over the past five years, trade between the two countries has grown by nearly 1.5 times, reaching $866 million in 2023. Currently, 550 Afghan-invested enterprises operate in Uzbekistan, 443 of which are fully Afghan-owned. Joint projects are ongoing in food production, construction materials, agriculture, tourism, and textiles. Beyond trade agreements, both countries are discussing broader economic cooperation. In August 2024, an Uzbek delegation led by Prime Minister Abdulla Aripov visited Afghanistan. During the meetings, both sides emphasized their goal of increasing trade turnover to $1 billion in 2024, with a long-term target of $3 billion. Officials stressed the need to tap into new economic opportunities on a mutually beneficial basis. As previously reported by The Times of Central Asia, in October 2024, Afghanistan’s Ministry of Mines and Oil signed a 10-year contract with an Uzbek company for gas exploration and production in the Tuti Maidan gas field in Jawzjan province. The project is expected to bring in about $1 billion in investment to the region’s gas sector.

Regional Cooperation Trade Iran Bilateral Trade Bilateral Cooperation Foreign trade turnover

Iran’s Non-Oil Exports to Uzbekistan Rise by 18%

Iran’s non-oil exports to Uzbekistan increased by 18% in value and 14% in weight during the first nine months of the current Iranian year (March 20 - December 20, 2024), compared to the same period last year (March 21 - December 21, 2023), Trend reported, citing data from the Iranian Customs Administration. According to the report, Iran exported 414,000 tons of non-oil goods worth $292 million to Uzbekistan during this period. In the corresponding months of the previous Iranian year, exports totaled 364,000 tons, valued at approximately $248 million. Key Iranian Exports to Uzbekistan Iran’s main exports to Uzbekistan included: Milk and dairy products Petrochemicals Various types of pipes Glass containers Agricultural equipment Overall, Iran’s total trade turnover with Uzbekistan during the nine-month period reached 444,000 tons, valued at $358 million. Expanding Trade Ties with Kazakhstan In addition to strengthening economic relations with Uzbekistan, Iran is also deepening trade ties with Kazakhstan. As The Times of Central Asia reported, on January 30, Iranian Vice President Mohammad-Reza Aref met with Kazakh Prime Minister Olzhas Bektenov in Almaty to discuss trade and transport cooperation. Kazakhstan’s trade with Iran reached $296 million in 2024, an 8.1% increase from the previous year. Notably, Kazakhstan’s exports to Iran grew by 29.1%, reaching $100.6 million. Kazakhstan plans to expand exports of wheat and barley, while both sides discussed increasing cargo traffic and upgrading port terminals to facilitate trade.

economic Motor fuel Export/Import Trade Government

Kazakhstan Bans Export of Gasoline and Diesel Fuel

Kazakhstan has officially banned the export of gasoline and diesel fuel by road and rail, according to a government decision that came into effect on January 29, 2025. The restriction is outlined in amendments to the joint order “On Some Issues of Export of Oil Products from the Territory of the Republic of Kazakhstan,” which were approved by the Minister of Energy, the Chairman of the National Security Committee (KNB), and the Ministers of Finance and Internal Affairs. Scope of the Ban and Exceptions Under the new regulations, the export of petroleum products - including to member states of the Eurasian Economic Union (EAEU) - is prohibited via road transportation. "Introduce a ban on the export of gasoline, diesel fuel, and certain types of petroleum products from the territory of the Republic of Kazakhstan, including to the EAEU member states, by road transport," the official statement reads. However, the government has outlined several exceptions: Lubricating oils may still be exported. Fuel contained in vehicle gasoline tanks is permitted for export, provided it meets factory specifications. Aviation fuel may be exported for scientific research, additive testing, laboratory studies, and industrial production, subject to government approval. Petroleum products designated for humanitarian aid are exempt from the ban during the period from September 29, 2024, to March 29, 2025. In addition to road transport, railway exports are also restricted, with limited exceptions. Gasoline exports within the framework of state-approved plans, as well as fuel deliveries for humanitarian aid and disaster relief efforts, will be permitted between February 1 and March 29. Government’s Rationale for the Ban The Ministry of Energy stated that the new restrictions aim to prevent fuel shortages in the domestic market. The move comes amid discussions about phasing out state regulation of fuel prices. As The Times of Central Asia previously reported, the Kazakh government is considering a gradual liberalization of gasoline and diesel fuel prices to reduce price disparities with neighboring countries and curb the illegal export of fuel and lubricants.

Agriculture Local Economy Retail Trade

Potato Hunt: Astana Restricts Potato Sales Amid Price Surge

Supermarkets in Astana, including the Small and EuroSpar chains, have introduced a restriction on the sale of potatoes, limiting purchases to no more than 5 kilograms per customer. The Astana Akimat's Department of Investment and Entrepreneurship Development announced that the measure aims to prevent speculation. However, officials have not provided a timeline for when the restrictions might be lifted. A Sharp Spike in Prices The price of potatoes has surged sharply in Kazakhstan. According to the Bureau of National Statistics, this spike occurred within a single week, from January 14 to 21. The annualized price increase averaged 57.8% across the country, with some regions experiencing even steeper hikes. In Astana, the price of potatoes doubled - rising by 100% - with a kilogram costing between 400 and 500 KZT ($0.96). The Ministry of Agriculture (MOA) attributes the price surge to speculation by unscrupulous middlemen. Deputy Minister Yerbol Taszhurekov clarified that the situation cannot be classified as “price collusion” but acknowledged significant price disparities between agricultural producers and retail outlets. “This is the result of speculative activity. After the New Year, many vegetable storages and warehouses remained closed, leading to a reduced supply in the market. Resellers and speculators exploited this temporary shortage to raise prices,” Taszhurekov explained. Tackling the Reseller Problem In response, local governments (akimats) began releasing potatoes from government stabilization funds at significantly reduced prices—between 115 and 130 KZT ($0.25) per kilogram. These measures were implemented to counter speculative practices and stabilize prices until the new harvest. The MOA reported that Kazakhstan currently has more than 62,000 tons of potatoes in reserve, excluding stocks in trade networks. These supplies are deemed sufficient to meet domestic demand until the next harvest. In Astana, this intervention helped bring down prices in retail chains like Small and EuroSpar to 280 KZT ($0.54) per kilogram. However, a new issue arose: small retailers began purchasing potatoes in bulk from these supermarkets to resell them at higher prices. To address this, supermarkets imposed a restriction on potato sales, limiting purchases to 5 kilograms per customer. “All necessary measures have been taken to ensure stable potato prices in Astana. There is no shortage in the city, and products are sufficiently stocked on retail shelves and in markets. Supplies are being replenished in a timely manner. However, to prevent bulk purchases by resellers for resale in small neighborhood stores, supermarkets in the Small and EuroSpar chains have implemented temporary purchase limits,” stated the Department of Investment and Entrepreneurship Development of Astana. Collaboration Between Retail Chains and Farmers The Ministry of Trade and Integration (MTI) also took steps to address the situation. Following discussions with representatives from major supermarket chains such as Magnum, Small, Anvar, and Dina, an agreement was reached for these retailers to directly purchase 1,500 tons of potatoes from farmers. The supermarkets will independently manage the transportation of these goods to ensure steady supply. “Akimats in the regions must present their specific needs, including the required volumes, so that retail chains can promptly meet...