Tashkent hosted a business forum with the participation of more than 400 representatives of leading ministries, agencies, industry associations, chambers of commerce and industry, holding companies and business circles of Uzbekistan and Kazakhstan.

Deputy Prime Minister of the Republic of Uzbekistan – Minister of Investments and Foreign Trade Jamshid Khodjayev and Deputy Prime Minister of the Republic of Kazakhstan – Minister of Trade and Integration Serik Zhumangarin noted the strengthening of multifaceted cooperation between the two countries and the importance of active interaction between business circles in this direction. It was emphasized that the trade turnover amounted to $5 billion, and it is planned to increase it to $10 billion. To achieve this goal, a joint foreign trade company will be established shortly. Dynamic growth is also observed in investment and industrial cooperation. Over the past 5 years, the number of enterprises with the participation of Kazakh capital in Uzbekistan has increased five times and is almost 1200.

More than 30 joint projects worth more than $3 billion are being implemented. In the further development of trade and economic cooperation based on the wide use of untapped reserves and opportunities, it is essential to expand direct interregional ties in several areas, hold fairs of industrial and agricultural products from the regions of Uzbekistan and Kazakhstan, implement joint projects in the automotive industry, electronics and electrical engineering, energy, pharmaceuticals, chemical and textile industries, production of building materials.

“It is important to unite the efforts of the two countries to create high-tech industries and develop industrial cooperation, manufacture products with high added value for further joint development of third-country markets”, said Jamshid Khodjayev.

“Uzbekistan is our main, reliable and promising partner in Central Asia”, says Serik Zhumangarin. – Developing trade relations became the locomotive of our friendly relations. Kazakhstan attaches great importance to the development of cooperation in the Central Asian region. The forum is another confirmation of the importance of developing regional cooperation and creating Central Asian brands worldwide.

Employees of ministries, agencies, industry associations and heads of regional hokimiyats, representatives of business circles of the two countries revealed in detail the potential for cooperation and proposed promising ready-made projects. During B2B and G2B meetings, financial and technical aspects of cooperation and mechanisms of state support for the implementation of joint projects were discussed.

Following the events, the heads of delegations expressed their commitment to strengthening trade, economic and investment cooperation between Uzbekistan and Kazakhstan, establishing strong business ties, and providing comprehensive support to entrepreneurs in the implementation of joint projects and initiatives.

Following the forum, an Agreement was adopted on the development of cooperation in trade, economic, cultural and humanitarian spheres between Samarkand and Turkestan, a roadmap with specific investment projects and trade contracts in agriculture. A package of agreements was signed that fixed plans for the development of interaction between the business circles of Uzbekistan and Kazakhstan for more than $3 billion.

Saidmurod Rakhimov, UzA