Nur-Sultan hosted Uzbekistan – Kazakhstan Business Forum and an expanded meeting of the joint Business Council.

According to Uzbekistan MIFT, the events were attended by heads of key ministries, agencies, industry associations, chambers of commerce and industry, holding companies and representatives of the business community of the two countries.

The opening ceremony was attended by Deputy Prime Minister – Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov and Deputy Prime Minister of Kazakhstan Roman Sklyar. The heads of delegations noted the strategic nature of the multifaceted cooperation between the two countries and emphasized the role of active interaction of business circles in this context.

The readiness of the governments of the two countries was voiced to actively interact to create favorable conditions for establishing direct cooperation between Uzbekistan and Kazakhstan entrepreneurs, taking into account the implementation of joint investment projects and the intensification of bilateral trade.

Broad prospects were noted for establishing industrial cooperation between manufacturers of the two countries and the formation of continuous value chains due to this, taking into account the comparative advantages of the economies of Uzbekistan and Kazakhstan.

A new initiative was noted – the creation of an International Center for Industrial Cooperation on the border area of ​​the two countries. The center will be equipped with the necessary production infrastructure, and its residents will receive several benefits and preferences, which will make it possible to more effectively attract Uzbekistan and Kazakhstan entrepreneurs to the creation of joint industrial enterprises.

Presentations were organized by the heads of ministries, agencies, industry associations and regional administrations, as well as business representatives of the two countries, in which the potential for cooperation was revealed in detail and promising projects were presented for further development. Practical aspects of cooperation and mechanisms of state support in the implementation of joint projects were discussed during the G2B and B2B meetings.

Following the events, the Deputy Prime Ministers of the two countries expressed their commitment to further strengthening economic cooperation between Uzbekistan and Kazakhstan, establishing strong business contacts and providing comprehensive support to entrepreneurs in the implementation of joint projects and initiatives.

Following the forum, trade contracts and bilateral agreements were signed on the implementation of joint projects and initiatives worth $5.9 billion.

UzA