Kazakhstan and Uzbekistan Plans to Increase Trade to Us$5 Billion

Kazakhstan and Uzbekistan Plans to Increase Trade to Us$5 Billion

Kazakhstan and Uzbekistan are targeting to increase their trade turnover to US$5 billion this year as the countries’ trade value was recorded at US$3 billion in 2018.

Member of the Legislative Chamber of Oliy Majlis of Uzbekistan, Akmal Rakhmanov said that the two countries are entering a new level of economic cooperation.

He said that the negotiations between Kazakhstan and Uzbekistan at the state level as well as between representatives of the cultural and economic circles of the countries play a very important role in maintaining friendly relations.

“Today, we are witnessing how our long-term strong ties are moving into a new modern period of the cooperation,” Rakhmanov added.

Meanwhile, an International Center for Trade and Economic Cooperation will be built on the Kazakh-Uzbek border.

A memorandum on the project was signed between the two countries.

The center, which will be called Central Asia, will be the main transport and logistics hub in the regions as it will open access to the trade development with China and Europe.

Kazakhstan and Uzbekistan also plan to implement a joint-development of tourism industry in the region.

Member of the Legislative Chamber of Oliy Majlis of Uzbekistan, Tulkinzhon Karimov said that President of Kazakhstan, Qasym-Jomart Toqayev has said that the main goal of the partnership is to integrate the routes of the countries’ holy ancient cities such as Turkistan, Samarkand and Bukhara.

“We fully support the proposal made by Kazakhstan. It will allow us to attract tourists from our region and from around the world,” he said.

Photo: kazanalytics.kz