Kazakhstan and Uzbekistan Sign Over 70 Agreements at Samarkand Forum
Kazakh and Uzbek business leaders signed 76 documents worth more than $352 million during the fourth Uzbekistan – Kazakhstan interregional cooperation forum, chaired by Prime Ministers of Kazakhstan Olzhas Bektenov and Uzbekistan Abdulla Aripov on Oct. 22 in Samarkand.
The signed documents include a practical action plan to expedite the implementation of agreements reached at the highest level. This document outlines joint projects in the fields of energy, mining, and geology. Additionally, agreements on cooperation in trade and economics, scientific and technical collaboration, as well as cultural and humanitarian exchanges between the regions of Kazakhstan and Uzbekistan were also formalized.
During the forum, Bektenov and Aripov discussed strategies to boost bilateral trade turnover and foster industrial cooperation, as well as enhance interaction in water, energy, transit-transport, and gas sectors, as reported by the Prime Minister’s press service.
Uzbekistan stands as Kazakhstan’s primary trading partner in the Central Asian region, with mutual trade volume reaching $2.5 billion from January to August. Bektenov emphasized the importance of expanding initiatives to enhance trade and economic cooperation and creating favorable conditions for mutual investment.
“Kazakhstan and Uzbekistan have broad prospects for joint work in all areas. (…) Investment agreements and commercial contracts worth $7 billion signed at the business forum in Astana, will make a significant contribution. I am convinced that today’s meeting will serve as the beginning of the implementation of new breakthrough projects and will make a huge contribution to ensuring the sustainable economic development of the entire Central Asian region,” said Bektenov.
According to Bektenov, there is great export potential in the petrochemical, metallurgical, automotive, industrial, food, chemical and pharmaceutical industries. Kazakhstan is ready to increase export deliveries to Uzbekistan by over $550 million for 40 types of Kazakh high-value goods.
Aripov said that the growth of interregional cooperation is currently the most important area of bilateral ties.
“Over the past seven years, mutual trade turnover between Uzbekistan and Kazakhstan has grown almost 2.5 times, reaching $4.4 billion last year. Today, there are more than 1,000 enterprises with Kazakh capital operating in Uzbekistan. Border regions have established direct and close ties – the Republic of Karakalpakstan with the Mangystau Region, Tashkent with the Turkistan Region, Navoi with Kyzylorda. Our other regions are also consistently strengthening ties, developing trade relations and industrial cooperation. At the same time, there is significant potential that has not yet been fulfilled,” Aripov noted.
