Economic cooperation between Kazakhstan and Uzbekistan is reaching a new level

Economic cooperation between Kazakhstan and Uzbekistan is reaching a new level

Economic cooperation between Kazakhstan and Uzbekistan is reaching a new level. Trade between the countries is on the rise. Over the past two years, the trade has increased by almost 1.5 times and is estimated at US$2.2 billion. Kazakhstan imports fruits, vegetables and light industry goods from Uzbekistan and exports petroleum products, flour, pasta and oil to Uzbekistan.

SAIDIKRAM NIYAZKHODZHAEV, UZBEK AMBASSADOR TO KAZAKHSTAN:

 - We’ve exported food products to Kazakhstan worth more than US$400 million. Similarly, food products worth US$410 million have been delivered to Uzbekistan in the first six months. In Astana, we’ve recently opened a shopping centre, where residents can find Uzbek products and purchase not only fruits, vegetables and confectionery products, but also light industry products and household appliances.

Another significant part of the mutually beneficial relations is joint projects. More than 300 enterprises with Kazakh investments are operating in Uzbekistan. On the other hand, over 1,700 companies with Uzbek capital operates in Kazakhstan. Large joint ventures are also based in Kazakhstan such as an automobile manufacturing plant in Kostanai region and gas stove assembly workshop in Shymkent.

SAIDIKRAM NIYAZKHODZHAEV, UZBEK AMBASSADOR TO KAZAKHSTAN:

 - The gas stove production plant is operating. It can fully cover the needs of Kazakhstan and it is produced in Kazakhstan. Moreover, in terms of its technical characteristics, it is in no way different compared to other manufacturers. This is created by taking into account the goal of gasification in the country.

Experts say the implementation of 60 contracts is another driver to enhance interaction. Entrepreneurs from Kazakhstan and Uzbekistan signed the agreements at a business council held in Shymkent in May. The total amount of agreements exceeded US$1billion.