Uzbekistan and Kazakhstan are set to embark on an ambitious strategic partnership program aimed at significantly increasing their mutual trade volume to $10 billion by 2034. This initiative underscores the growing economic cooperation between the two Central Asian nations.
Uzbekistan-Kazakhstan Trade
The focus of this strategic partnership will be on expanding trade volumes through enhanced market integration and reducing reliance on imports from third countries. To achieve this, both governments have been tasked with developing a detailed program by the end of this month, designed to elevate trade turnover to the targeted $10 billion.
As part of this strategic push, a substantial portfolio of new agreements and contracts totaling $7 billion has been outlined during the recent state visit of Uzbekistan’s President, Shavkat Mirziyoyev, to Astana. These agreements span multiple sectors including energy, transportation and logistics, metallurgy, textiles, agriculture, and construction, as well as regional collaborations.
One of the key projects includes the accelerated construction of an international industrial cooperation center in Uzbekistan’s Syrdarya region. Additionally, the establishment of a joint investment fund is also under consideration to further bolster industrial and economic ties between the two countries.
In the autumn, the first meeting of the Council of Regional Leaders from both nations is scheduled to take place in Samarkand. This meeting will focus on advancing the strategic partnership and ensuring the successful implementation of the planned initiatives.
Overall, this strategic partnership highlights Uzbekistan and Kazakhstan’s commitment to enhancing economic cooperation and fostering regional growth through collaborative efforts and significant investment.
