The pandemic did not affect Kazakhstan's exports to Uzbekistan
Made in Kazakhstan products continue to be delivered to major retail chains in Uzbekistan. Food, meat and confectionery products are mostly popular among the population.
This year, it was planned to increase the mutual trade turnover of the two countries to $5 bln., but the pandemic made its own adjustments. For 9 months, the volume of mutual trade decreased by 16.5%. However, of these, Kazakhstan's exports decreased by only a small percentage, while imports from Uzbekistan decreased by 40%, LSM reports with reference to Bakhyt Sultanov, the Minister of Trade and Integration of Kazakhstan.
Since last year, a foreign representative office of EIC "KazakhExport" JSC has been operating in Tashkent. Its task is to establish contacts with the business community of Uzbekistan and Kazakhstan, as well as to inform entrepreneurs of the non-resource sector and financial institutions of the two countries about the support instruments and prospects for business development.
In general, with the insurance support of KazakhExport, the subordinate organization of the Ministry of Trade and Integration of the Republic of Kazakhstan, Kazakh exporters supply cars, food, meat and confectionery products, construction materials and other products to the Uzbek market. The demand for Kazakh products leads to the expansion of the network of partner banks in Uzbekistan. By insuring letters of credit issued by Uzbek banks, KazakhExport allows Kazakh exporters to receive payment immediately after shipment of goods, and Uzbek buyers to receive financing for the purchase of Kazakh products.
Yesterday, during the visit of Roman Sklyar, thw Deputy Prime Minister of the Republic of Kazakhstan to the Republic of Uzbekistan, a Cooperation Agreement was signed between EIC "KazakhExport" JSC and Kishlok Kurilish Bank OJSCB.
Under this agreement, insurance of letters of credit totaling $2.3 mln. has already been carried out in the food, construction and chemical industries, including transactions for the supply of domestic polymer products, beef, sunflower oil, and cement to Uzbekistan.
Since the beginning of the year, the total volume of obligations assumed by KazakhExport under export agreements to Uzbekistan amounted to KZT 19.4 bln.
https://lsm.kz/pandemiya-ne-udarila-po-kazahstanskomu-eksportu-v-uzbekistan
