Trade - The Times Of Central Asia

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Trade Pavilion

Kyrgyzstan to Open Trade Pavilion at Uzbekistan’s Key Food Distribution Center

The Trade Mission of the Kyrgyz Republic in Uzbekistan will open a Kyrgyz Trade Pavilion at Food City in Tashkent. Food City is Uzbekistan’s largest wholesale fruit and vegetable market and one of the country’s biggest food distribution centers. An agreement on the pavilion’s opening was signed on May 15 in Tashkent between the Trade Mission of the Kyrgyz Republic in Uzbekistan and the Uzbek company FOODSTUFFS SELL. Spanning 60 hectares in Tashkent, Food City includes a large fresh food market serving retailers, supermarket chains, exporters, food processing companies, restaurants, and catering businesses. According to the Kyrgyz Ministry of Economy and Commerce, the pavilion will create a new platform for promoting Kyrgyz products in the Uzbek market and developing trade between the two countries. The pavilion will feature a permanent exhibition of Kyrgyz goods, including environmentally friendly and organic agricultural products, processed goods, and other food products. Officials say the project is expected to expand Kyrgyzstan’s export potential and strengthen direct ties between producers and distributors in the two countries. Bakai Akbaraliev, Kyrgyzstan’s trade representative in Uzbekistan, said the opening of the pavilion at Food City represents more than simply a new trading platform. “We are creating a sustainable channel for promoting Kyrgyz products, expanding export opportunities for businesses, and developing new mechanisms for sustainable trade and economic cooperation between the two countries,” Akbaraliev said. The project also aims to increase trade turnover between Kyrgyzstan and Uzbekistan.

Organization of Turkic States

Turkic States Focus on AI and Trade at Kazakhstan Summit

Leaders of the Organization of Turkic States (OTS) are holding an informal summit in the city of Turkistan, focused on artificial intelligence, digitalization, and economic integration, as Central Asia gains importance as an alternative trade corridor between Europe and China. The meeting brings together the leaders of Kazakhstan, Turkey, Azerbaijan, Uzbekistan, and Kyrgyzstan, along with representatives of observer states. Discussions are centered on digital platforms, joint AI projects, transport corridors, and industrial cooperation. The summit comes amid rapid growth of the Trans-Caspian International Transport Route, also known as the Middle Corridor, which links China and Europe through Central Asia and the Caucasus while bypassing Russia. According to analysts in Kazakhstan, cargo volumes along the route reached 3.3 million tons in 2024, almost six times the 2021 level. Turkish President Recep Tayyip Erdoğan arrived in Astana on a state visit ahead of the summit and held talks with Kazakh President Kassym-Jomart Tokayev. “Kazakhstan and Turkey are connected by enduring friendship, brotherhood, and eternal partnership,” Tokayev said following the meeting. Erdoğan thanked Kazakhstan for the reception and highlighted the escort provided by Kazakh military fighter jets after his aircraft entered the country’s airspace. According to participants at the OTS business forum, the combined GDP of member states exceeds $2.1 trillion, while their total population stands at 178 million people. Despite increasing political coordination, trade between OTS countries still accounts for only around 7% of their total foreign trade turnover, leaving considerable room for deeper economic integration, analysts say. OTS member states are increasingly seeking to expand cooperation beyond cultural and political ties by focusing on logistics, the digital economy, and joint investment projects. Kazakhstan views the organization as one of the instruments for diversifying its foreign economic relations and expanding its role as a transit hub between Asia and Europe.

Trade

EDB: Central Asian Trade Has Doubled in Five Years

Mutual trade between Central Asian countries reached $12.3 billion in 2025, nearly doubling compared to 2020, according to analysts at the Eurasian Development Bank (EDB). The figure underlines how Central Asia is increasingly emerging as a more interconnected regional market after years of relatively limited internal trade links following the collapse of the Soviet Union. Kazakhstan remains the largest participant in regional trade, accounting for 54% of all intraregional exports, valued at $6.6 billion. The country's key export commodities to the region include grain products (18%), ferrous metals (13%), crude oil and petroleum products (8%), sunflower oil (7%), and beverages (3%). The primary destination for these exports is Uzbekistan, while Kyrgyzstan recorded the fastest growth in imports from Kazakhstan, with volumes nearly tripling to $1.7 billion. Uzbekistan ranks second, accounting for 26% of regional exports, worth $3.2 billion. The largest increase in Uzbek exports was recorded in trade with Kazakhstan, where shipments grew 2.1 times. Uzbekistan’s main export products include motor vehicles and auto parts (14%), fruit and vegetables (11%), plastic products (5%), fertilizers (4%), and clothing (3%). Between them, the two largest Central Asian economies represent nearly $10 billion of exports to their neighbours, representing almost 80% of regional trade. Turkmenistan's share of exports – primarily natural gas – rose to 11%, while Kyrgyzstan's $0.9 billion of exports (half of which was unprocessed precious metals and coal) represented 7%. Tajikistan was the smallest contributor, accounting for just 3% of intraregional exports – principally zinc, lead and copper. According to EDB analysts, the rapid expansion of trade has been driven by strengthening bilateral economic cooperation among Central Asian states and efforts to simplify trade procedures. The bank said the pace of growth demonstrates that Central Asia is gradually emerging as an increasingly integrated regional market with strengthening internal economic ties. That said, analysts stressed that the current level of trade still represents only a fraction of the region’s broader economic potential. Further reductions in trade barriers, improved transport connectivity, and deeper industrial cooperation could significantly accelerate intraregional trade turnover, the report said. EDB analysts estimate that trade between Central Asian countries could increase by an additional $4 billion by 2029.

Trade

Tokayev Expects Kazakhstan-Russia Trade to Exceed $30 Billion

Kazakh President Kassym-Jomart Tokayev said trade turnover between Kazakhstan and Russia could surpass $30 billion in 2026, following a slight decline last year. Speaking during a meeting with Russian President Vladimir Putin in Moscow, Tokayev said Russia remains one of the largest investors in Kazakhstan. “Over the past five years, Russia has been one of the main investors in the Kazakh economy. Trade is developing successfully. According to forecasts, this year we will confidently surpass the $30 billion mark, this is a good indicator,” Tokayev said. Trade turnover between the two countries increased by 3% in 2024 to reach $27.8 billion, but declined to $27.4 billion in 2025, Kazakhstan’s Trade Minister Arman Shakkaliyev previously reported. Kazakhstan's trade turnover with Russia has long been eclipsed by that with China and the European Union – both of which have reached around $50 billion per year. Tokayev was in Moscow on a working visit ahead of Victory Day commemorations – a visit which had appeared in doubt following the threat of Ukrainian strikes on Moscow. During the talks, the two sides discussed bilateral economic cooperation, preparations for Putin’s upcoming state visit to Kazakhstan, and the Eurasian Economic Union summit scheduled to take place in Astana on May 28-29. According to Tokayev, Kazakhstan and Russia have implemented 122 joint industrial cooperation projects out of 177 planned over the past 20 years. Tokayev also congratulated the Russian leader on the anniversary of victory in World War II. “We honor the heroes of the bloodiest war in human history,” he said, noting that 57 World War II veterans remain alive in Kazakhstan. Putin, in turn, thanked Tokayev for the visit and praised his contribution to bilateral relations. “The fact that you found it possible to come to Moscow and be with us these days is the best proof of the level of relations between Kazakhstan and the Russian Federation,” the Russian president said. The Times of Central Asia previously reported that Russia had tightened foreign trade procedures at the beginning of the year, a move that could affect logistics and trade flows across Central Asia.

U.S.-Turkmenistan Relations

Washington Meets Ashgabat as Turkmen-American Business Cooperation Association Debuts

On May 7, the Turkmen-American Business Cooperation Association (TABCA) and the Embassy of Turkmenistan in Washington marked the organization’s official launch through a series of daylong events attended by members of the business community, diplomats, and dignitaries, including senior representatives from the U.S. Department of Commerce. Serving as a definitive bridge between the business communities of the United States and Turkmenistan, TABCA aims to promote bilateral trade, support market access initiatives, and encourage strategic partnerships and innovation across key sectors. More than 50 Turkmen and American companies joined the meetings, underscoring Ashgabat’s continued push toward a more open and globally engaged economy—one that inevitably brings both opportunity and risk. According to Esen Aydogdyyev, Turkmenistan’s Ambassador to the United States, “We are committed to cultivating broad international partnerships where agreements contribute to national development, economic resilience, and long-term independence for its citizens. Ashgabat is seeking broader investor and commercial engagement, which is compatible with our strategic autonomy and non-aligned status.” [caption id="attachment_48630" align="aligncenter" width="901"] (L/R) Viktoriya Frolova, Commerical Specialist, U.S. Embassy Turkmenistan, former Ambassador of Turkmenistan to the U.S., Meret Orozov, Chairman of the Board, Turkmen American Business Cooperation Association Nurgeldi Meredov, and Mr.Maksat Annamyradov, Board Member, Turkmen American Business Cooperation Association. Image: Kakajan Ovezov, Begench Arazalyyev[/caption] The initiative reflects Turkmenistan’s effort to strengthen ties with Western investors while maintaining its neutrality and independent foreign policy. Economic growth is strongest, the participants echoed, when enterprise creates broad opportunity and shared prosperity. Ambassador Aydogdyyev said that “priority areas for cooperation include trade and commerce, energy, transportation and communications, agriculture, renewable energy, the chemical and food sectors, as well as environmental protection. We especially value entrepreneurship and small business partnerships between Turkmenistan and the United States. In addition, we want Turkmen entrepreneurs to play a role in supporting economic growth and employment opportunities in the United States, which they are already contributing to today.” Win-Win is the Guiding Principle TABCA’s official launch in Washington is more than symbolic—it reflects a meaningful new chapter in U.S.-Turkmenistan relations, grounded in practical business cooperation and a shared commitment to cross-border investment. While some observers in Turkmenistan remain cautious about the risk of outside geopolitical agendas or economic models that favor a narrow set of interests under the banner of long-term prosperity and commercial diplomacy, the focus today is on building fair opportunity, productive partnership, and tangible commercial results. “U.S. and Turkmen businesses are already helping drive jobs and economic growth in both countries—a reminder of why stronger commercial ties matter,” said Nurgeldi Meredov, TABCA’s Chairman. “Our goal is to expand trade, boost investment, and create long-term partnerships that open new opportunities for companies on both sides.” [caption id="attachment_48631" align="aligncenter" width="712"] Jamila Kerimova, founder of “Ish nokady” (standing); image: Kakajan Ovezov, Begench Arazalyyev[/caption] At TABCA’s morning session, Turkmen businesses highlighted B2B engagement and SME growth opportunities, showcasing companies in logistics, e-commerce, manufacturing, consulting, and real estate. The presentations were followed by networking aimed at fostering direct commercial partnerships. Nurgeldi Meredov, alongside Meret Orazov, former Ambassador of Turkmenistan...

Asian Development Bank

ADB Annual Meeting in Samarkand Unveils Major Energy, Climate, and Development Initiatives

The Asian Development Bank’s (ADB) 59th Annual Meeting concluded in the historic Uzbek city of Samarkand after four days of discussions focused on energy connectivity, climate financing, and economic resilience across Asia and the Pacific. Held from May 3 to 6, the gathering brought together government officials, development institutions, economists, and private sector representatives at a time of growing geopolitical and economic uncertainty. It marked the second time Uzbekistan has hosted the ADB Annual Meeting, following the 43rd edition in Tashkent in 2010. A central announcement at the meeting was the unveiling of a broader $70 billion regional infrastructure program aimed at accelerating energy and digital connectivity across Asia and the Pacific. The initiative is structured around two major pillars: a $50 billion Pan-Asia Power Grid Initiative focused on cross-border electricity systems, and a $20 billion digital connectivity component aimed at strengthening broadband and data infrastructure across the region. Together, these programmes are intended to reduce energy costs, improve reliability, and deepen regional economic integration. The Pan-Asia Power Grid Initiative (PAGI) In his address to delegates, ADB President Masato Kanda noted that PAGI seeks to support more interconnected and resilient infrastructure systems. "To survive and thrive in this new era, we must build deeply connected and resilient systems," he said, adding that stronger regional grids and digital networks can help countries manage rising energy demand whilst also accelerating the transition to cleaner power sources. The initiative seeks to integrate around 20 gigawatts of renewable energy capacity and the develop enough transmission infrastructure to expand electricity access for up to 200 million people. ADB officials said the bank would use its role as a regional convener to bring together governments, regulators, and private investors to overcome barriers that often slow regional infrastructure projects. The bank pointed to earlier success stories, including the Bangladesh-India power grid interconnection and the Monsoon Wind Power Project in Laos, as examples of cross-border cooperation supported through blended finance mechanisms. [caption id="attachment_37211" align="aligncenter" width="1536"] Image: TCA, Stephen M. Bland[/caption] Climate and Food Security Concerns Climate and environmental financing also featured prominently during the Samarkand meetings. On May 5, the ADB announced that the German government had joined the bank’s Nature Solutions Finance Hub with €5.5 million ($6.5 million) in grant co-financing, some of which has been earmarked for sorely needed watershed rehabilitation in Uzbekistan. The discussions also reflected growing concern over global food security and supply chain vulnerabilities linked to the ongoing war in Iran. Qingfeng Zhang, Senior Director of ADB’s Agriculture, Food, Nature, and Rural Development Sector Office, warned that disruptions around the Strait of Hormuz were increasing the cost of everything from energy to insurance, freight to fertilizer – placing additional pressure on food systems across Asia and the Pacific, including Central Asia. Unlike the shock caused by Russia’s invasion of Ukraine, which directly disrupted grain and fertilizer exports, Zhang said the current crisis was affecting agriculture primarily through higher operating and transportation costs. The Strait of Hormuz handles roughly one-quarter of global seaborne oil...