Kazakhstan and Uzbekistan to Develop Joint Trade and Logistics Center at Border Areas

Kazakhstan and Uzbekistan to Develop Joint Trade and Logistics Center at Border Areas

The trade value between Kazakhstan and Uzbekistan in 2018 has increased by 26% and amounted to nearly US$2.5 billion.

Experts believed that the increase in the value is due to the development of border areas between the two countries.

Kazakh Deputy Foreign Minister, Yermek Kosherbayev said that a large trade and logistics center is planned to be developed at the border areas of Kazakhstan and Uzbekistan.

He said the center will help to ensure the development of transport infrastructure as well as boost the countries’ trade activities and economic partnerships.

“Deputy Ministers of Uzbekistan’s Investment Ministry and Kazakhstan’s Ministry of National Economy have visited the border areas. We invited Uzbek businessmen to take part in our agricultural projects since Kazakhstan is a large platform for them to join the Eurasian Economic Union market,” Kosherbayev said.

Uzbekistan and Kazakhstan also plans to increase the list of exported goods in 2019. Some of the products that Kazakhstan plan to sell to its neighboring country include homemade fish baursaks, flour and construction materials.

“The trade turnover is growing at a fast pace. I am confident that with the joint efforts, we will be able to increase the trade turnover to US$5 billion in the near future. This goal was set by the Presidents of our nations,” Uzbek Deputy Minister of Investment and Foreign Trade, Laziz Kudratov said.

He also said that Uzbekistan is suggesting to unite the efforts with Kazakhstan to form new significant investment projects and develop stronger trade relations.

Photo: zakon.kz