Entrepreneurs of Kazakhstan and Uzbekistan have concluded agreements for $2 billion
Uzbekistan is one of the largest trade partners of Kazakhstan, at the end of the year, the trade between the two countries could amount to $4 billion.
NUR-SULTAN, 4 Dec - Sputnik. Business representatives of Kazakhstan and Uzbekistan during the meeting of the IV Kazakh-Uzbek Business Council in Nur-Sultan signed 15 agreements totaling $2 billion, the Atameken National Chamber of Entrepreneurs reported.
In particular, during the meeting, a number of cooperation agreements were signed between Karlskrona LC AB LLP (Kazakhstan), EIC “KazakhExport” JSC (Kazakhstan) and the khokimiyat of the Navoi region of Uzbekistan to facilitate the export of pumping and electrical equipment of Kazakhstan production and organization of production of pumping and electrotechnical equipment of Karlskrona LC AB LLP on the territory of the special economic zone "Navoi".
Another agreement on the implementation of a small-knot (CKD) industrial assembly project for Chevrolet Nexia cars and the supply of auto components was signed between the Allur Group of Companies JSC (Kazakhstan) and Uzavtosanoat JSC (Uzbekistan).
An agreement was also signed for the supply of Kazakh coal to the Novo-Angrensky thermal power plant for 5 years between Gornye Raboty LLP (Kazakhstan) and Yangi-Angren issiqlik elektr stansiyasi JSC (Uzbekistan).
In turn, the National Chamber of Entrepreneurs and the Chamber of Commerce and Industry of Uzbekistan represented by Ablai Myrzakhmetov and Adham Islamov signed a plan of main events of the Kazakh-Uzbek Business Council for 2022.
Currently, there are 1,400 enterprises in Kazakhstan with the participation of Uzbek capital. On the eve of the meeting, entrepreneurs from the two countries met in the Turkestan region, where they also concluded joint agreements for $600 million.
"Taking into account such positive results, I propose to continue to provide maximum assistance in the implementation of new common projects. Currently, there is a launch pad of new joint ventures. We welcome the participation of Uzbekistan's business in projects aimed at the development of export-oriented production for joint entry into the markets of third countries", - said Deputy Prime Minister of Kazakhstan Roman Sklyar.
In the context of intensifying competition for markets and investments, Kazakh and Uzbek entrepreneurs need to develop in several directions.
"First of all - trade relations and industrial cooperation. Over 5 years, trade between our countries has grown by 60% and exceeded $3 billion, for 10 months of 2021 the increase was 37%. Our heads of state set an ambitious task for us, to increase the volume to 5 billion dollars in 2022 and to 10 billion dollars in the coming years. To achieve the goal, we worked out a joint Roadmap so that our entrepreneurs begin to trade more actively both with each other and jointly enter the markets of third countries", said Deputy Prime Minister of Uzbekistan Sardor Umurzakov.
Deputy Prime Minister of Uzbekistan stressed that in order to increase activity between the business community of the two countries, it is planned to sign joint programs with akimats for quarterly exhibitions, events and trade missions.
Ablay Myrzakhmetov, Chairman of the Board of the Atameken NCE RK, believes that the potential for cooperation between entrepreneurs of the two countries has not been exhausted. Today Uzbekistan is one of the largest trading partners of Kazakhstan. According to the results of 2021, it will enter the top 5 partner countries with a possible volume of bilateral trade of $4 billion. The largest items of Kazakhstan export are oil and oil products, wheat, flour, sunflower seeds, ferrous, non-ferrous metals, inorganic chemistry products, food products.
"The potential of our countries has not yet been fully realized. Today, the automotive industry, the construction sector and light industry remain leaders in concluded cooperation agreements, but we see a large backlog in agriculture. We have the potential to create cluster cooperation projects for the production of food products: flour products, pasta, confectionery, oil and fat products, meat products, fruits and vegetables, light industry products, as well as the pharmaceutical sector", said Ablai Myrzakhmetov.
In addition, the development of cooperation projects is facilitated by the launch of the international center for trade and economic cooperation "Central Asia" (ICTEC). The development of cross-border trade and logistics infrastructure and a unified Kazakh-Uzbek commodity distribution system, according to experts, will increase the volume of transit trade to $37.9 billion in 2030.
