Kazakhstan and Uzbekistan are expanding trade and economic cooperation and strengthening investment partnership. More than 500 entrepreneurs from Kazakhstan and Uzbekistan took part in the joint business forum in Astana.

ASKAR ARYNOV, MANAGING DIRECTOR, KAZNEX INVEST

- Economic development requires integration and further joint production. At present, Uzbek businessmen and state bodies express great interest to joint projects, to opening new borders and new directions.

In the last five months, trade turnover between the two countries has increased by 30% and now makes up just over 650 billion tenge or $2 billion. The parties intend to bring it up to $5 billion in the coming years through establishment of joint ventures.

NURZHAN ALTAYEV, DEPUTY CHAIRMAN, ATAMEKEN NATIONAL CHAMBER OF ENTREPRENEURS

- Textile industry is well developed in Uzbekistan. There is a very good opportunity to cooperate with Uzbekistan and buy this raw material for cheaper price than in Russia.

The meeting of the Uzbek and Kazakh businessmen has a strategic nature. Tashkent has something to offer to Astana and vice versa. Cooperation, the parties believe, will boost both markets.

ALISHER SHAIKHOV, CHAIRMAN, TRADE AND INDUSTRIAL CHAMBER OF UZBEKISTAN

- For us, Kazakhstan is not only a new market. This is an opportunity to work together to enter third markets, not just the CIS. We are now discussing opportunities for joint entry into the Chinese, European, American, and African markets.

The parties signed about 100 agreements at the forum. One of them was concluded between the automotive industries of the two countries. Thus, Uzbek cars assembling plant will open in Kazakhstan soon. The project is worth $20 million.

ZHENIS KASSYMBEK, KAZAKH MINISTER FOR INVESTMENTS AND DEVELOPMENT  

The Uzbek car manufacturers and Kazakhstani Saryarka auto industry will set up joint project in mechanical engineering. Kazakhstan and Uzbekistan will also implement joint projects in food industry and agro chemistry. We are planning to increase the supply of Kazakhstani oil products. Kazakhstan is Uzbekistan’s third partner in terms of commodity turnover. I think that we have a great potential and we should make the most of this process.

Another agreemnet is related to pharmaceuticals. According to the parties, new shopping malls in Tashkent and Shymkent will sell medications produced in the two countries. Such agreements will improve the investment statistics in the countries.

ALMAS AIDAROV, DEPUTY CHAIRMAN, KAZNEXINVEST

- The inflow of investments from Uzbekistan made up about 20 million in the last 10-11 years. Kazakhstan has invested about 250 million into the Uzbek economy, which is 16 times more. There is a good potential, which should be developed.

Kazakhstani manufacturers will participate in Tashkent business forum in September this year. Economic cooperation between Kazakhstan and Uzbekistan will have greater expansion in the future.

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