Kazakhstan and Uzbekistan plan to achieve mutual trade turnover of $10 billion in the medium term. This was stated by Deputy Prime Minister of Kazakhstan Serik Zhumangarin during the Kazakhstan-Uzbekistan business forum on August 7 in Astana.
“Uzbekistan is one of Kazakhstan’s largest trading partners, ranking 7th in 2023. Trade with Uzbekistan accounts for more than 57% of our country’s total trade turnover with Central Asian countries. Over the past 5 years, bilateral trade has increased by 29%, reaching $5 billion in 2022. We need systemic solutions to trade issues and a search for new growth points for trade turnover to achieve the goal set by the heads of our states – to reach $10 billion in the medium term,” S. Zhumangarin said.
For his part, Deputy Prime Minister of Uzbekistan Jamshid Khodjaev called for joining efforts to effectively attract major global brands.
Meanwhile, the Minister of Transport of the Republic of Kazakhstan Marat Karabayev and the Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov discussed issues of joint projects in the transport sector.
In particular, the projects for the construction of a multimodal transport and logistics center in the Tashkent region, a trans-Afghan railway line and the creation of a joint venture between Uzbekistan Temir Yollari and Kazakhstan Temir Zholy were considered.
Following the meeting, the parties agreed on the further development of cooperation in the field of transport and logistics.