Astana hosted a business forum between Kazakhstan and Uzbekistan.
A large-scale Kazakh-Uzbek business forum was held on August 7, 2024 in Astana. It marked a new stage in the development of bilateral economic relations. The event, organized by the Ministry of Trade and Integration of the Republic of Kazakhstan and JSC “Center for Trade Policy Development” QazTrade”, brought together more than 400 participants – representatives of leading companies, government agencies, and the expert community from both countries. The total amount of signed documents was an impressive $43.5 million, indicating significant potential for further expansion of cooperation. The forum was not limited to formal signing ceremonies; its key element were numerous bilateral B2B meetings that allowed Kazakh and Uzbek entrepreneurs to establish direct contacts, discuss specific projects, and outline ways to implement them.. The dialogue covered a wide range of industries, including the agro-industrial complex (with a focus on exporting Kazakh grain and Uzbek fruits and vegetables, as well as joint investment in processing enterprises), trade (emphasizing supply chain optimization and e-commerce development), light and food industries (such as textile, footwear, and food production), construction (looking at joint participation in major infrastructure projects), and other promising sectors.
An example of successful cooperation is the deal between the Kazakh tea factory Unitea and the largest Uzbek retail chain, Korzinka. The signed memorandum provides for the supply of 20-30 tons of tea per month. This agreement is particularly significant given Unitea’s experience in international markets, such as Russia, China, and Kyrgyzstan, where the company has successfully developed its products. The successful development of these markets demonstrates the competitiveness of Kazakh products and Unitea's ability to meet the demands of various consumer groups.
Such examples demonstrated at the forum served as a catalyst for the further development of the export potential of both countries. The importance of Uzbek-Kazakh economic partnership was emphasized by data on trade turnover. According to 2023 results, it reached $4.4 billion, strengthening Uzbekistan's position as one of Kazakhstan's largest trading partners. Ranking seventh among all partner countries in 2013, Uzbekistan accounted for over 57% of Kazakhstani trade with Central Asia, confirming the strategic importance of this relationship and indicating opportunities for significant future growth. In light of further economic cooperation development, it is worth noting some factors that contribute to trade growth between Kazakhstan and Uzbekistan.. These are, first and foremost, geographical proximity, the presence of a developed transport infrastructure, as well as coordinated policies between the two countries in the fields of customs regulation and standardization. However, in order to achieve even better indicators, it is necessary to address a number of challenges, including diversifying trade flows, strengthening logistics networks, reducing tariffs and non-tariff barriers, and enhancing the competitiveness of domestic products in each other's markets. Additionally, global economic developments and geopolitical situations should be taken into consideration. Instability on global markets may affect trade dynamics, so it's essential to anticipate possible risks and devise strategies to mitigate them. In this context, investment collaboration becomes crucial, which could contribute to diversifying the economies of both nations and boosting their resilience against external shocks.
In conclusion, the business forum in Astana demonstrated the enormous potential for economic cooperation between Kazakhstan and Uzbekistan. The agreements, negotiations, and agreements signed are a solid foundation for further development of bilateral relations leading to mutually beneficial growth and prosperity for both countries. Active interaction between government agencies and business circles from both countries is key to achieving these goals. Further strengthening economic ties will not only contribute to economic growth but also strengthen friendly relations between Kazakhstan and Uzbekistan
An example of successful cooperation is the deal between the Kazakh tea factory Unitea and the largest Uzbek retail chain, Korzinka. The signed memorandum provides for the supply of 20-30 tons of tea per month. This agreement is particularly significant given Unitea’s experience in international markets, such as Russia, China, and Kyrgyzstan, where the company has successfully developed its products. The successful development of these markets demonstrates the competitiveness of Kazakh products and Unitea's ability to meet the demands of various consumer groups.
Such examples demonstrated at the forum served as a catalyst for the further development of the export potential of both countries. The importance of Uzbek-Kazakh economic partnership was emphasized by data on trade turnover. According to 2023 results, it reached $4.4 billion, strengthening Uzbekistan's position as one of Kazakhstan's largest trading partners. Ranking seventh among all partner countries in 2013, Uzbekistan accounted for over 57% of Kazakhstani trade with Central Asia, confirming the strategic importance of this relationship and indicating opportunities for significant future growth. In light of further economic cooperation development, it is worth noting some factors that contribute to trade growth between Kazakhstan and Uzbekistan.. These are, first and foremost, geographical proximity, the presence of a developed transport infrastructure, as well as coordinated policies between the two countries in the fields of customs regulation and standardization. However, in order to achieve even better indicators, it is necessary to address a number of challenges, including diversifying trade flows, strengthening logistics networks, reducing tariffs and non-tariff barriers, and enhancing the competitiveness of domestic products in each other's markets. Additionally, global economic developments and geopolitical situations should be taken into consideration. Instability on global markets may affect trade dynamics, so it's essential to anticipate possible risks and devise strategies to mitigate them. In this context, investment collaboration becomes crucial, which could contribute to diversifying the economies of both nations and boosting their resilience against external shocks.
In conclusion, the business forum in Astana demonstrated the enormous potential for economic cooperation between Kazakhstan and Uzbekistan. The agreements, negotiations, and agreements signed are a solid foundation for further development of bilateral relations leading to mutually beneficial growth and prosperity for both countries. Active interaction between government agencies and business circles from both countries is key to achieving these goals. Further strengthening economic ties will not only contribute to economic growth but also strengthen friendly relations between Kazakhstan and Uzbekistan