Kazakhstan, Uzbekistan Sign 40 Agreements Worth $2.5 Billion at Tashkent Business Forum

ASTANA – Some 40 agreements on funding, commerce, and financial cooperation value $2.5 billion have been signed on the interregional Uzbek-Kazakh enterprise discussion board on Dec. 21 in Tashkent, reported the Prime Minister’s press service. Greater than 400 delegates from either side took half within the discussion board.

One of many conferences held between Kazakh and Uzbek sides through the discussion board. Photograph credit score: Prime Minister’s press service

Serik Zhumangarin, Kazakh Deputy Prime Minister and Minister of Commerce and Integration, emphasised the position of overseas funding within the economies of Kazakhstan and Uzbekistan. 

From 2005 to the second quarter of 2022, the gross influx of overseas direct funding from Uzbekistan to Kazakhstan reached $22.7 million. Kazakh investments within the economic system of Uzbekistan totaled $560 million. In 10 months, mutual commerce between Kazakhstan and Uzbekistan reached $4 billion.

The economic cooperation between Kazakhstan and Uzbekistan supplies for greater than 38 initiatives value $2.2 billion and employs almost 11,000 individuals. Of those, the nations have already carried out ten initiatives, half of that are situated in Kazakhstan.

Following the assembly, the members of the QazTrade commerce coverage growth middle concluded 11 business paperwork value $112.7 million, together with an settlement between Kazakhstan’s Temirzhol Zhondeu firm and Ozbekiston Temir Yollari on the availability of railway restore companies to Angren-Pap-Kokand-Andijan-Savay railway part. Contractual obligations will exceed $80 million.

Kazakh Deputy Prime Minister and Minister of Commerce and Integration Serik Zhumangarin speaks on the discussion board. Photograph credit score: Prime Minister’s press service

The edges additionally agreed on introducing synthetic intelligence within the Uzbek healthcare sector and exporting aluminum wire rods, flour, apple juice, and varied spices.

Greater than 1,400 enterprises and over 400 joint Kazakh-Uzbek corporations in commerce, skilled and scientific actions, building, transport, and warehousing function in Kazakhstan.