Trade in Central Asia

Development of the private sector and its role in trade between Central Asian countries was discussed at one of the sessions of the Astana Economic Forum. According to experts, the countries in the region have great potential in increasing the volume of trade. They noted that higher trade volume must be implemented. The Central Asian republics are actively developing reforms and taking appropriate strategies in this area.

SHIGEO KATSU, PRESIDENT, NAZARBAYEV UNIVERSITY:

 - Any economy even if it is dependent on commodities, there is always niches that are produced locally. An important thing is to find and encourage. Kazakhstan does have other certain products that should have a comparative advantage, be it high quality and high value products: be it honey, the products related to wood and other in the mountain side. It is a matter of bringing the producers to the market, and the market to a producer.

The importance of the Central Asian cooperation in simplification of trade procedures were discussed at the meeting. The experts conclude that integration within the One Belt, One Road initiative and the Eurasian Economic Union gives impetus to the trade turnover in the region.

WENCAI ZHANG, VICE PRESIDENT, ADB OPERATIONS IN SOUTH, CENTRAL, AND WEST ASIA:

 - Kazakhstan is a key player in this regional cooperation integration, and I know government is very much competent for this regional integration. Certainly, if Kazakhstan can really utilize this One Belt, One Road and other initiatives very effectively, this will help to build a linkage between Kazakhstan and other countries.