Trade between Uzbekistan and Kazakhstan reached $3bn in the first nine months of 2024, according to the Ministry of Investments, Industry, and Trade of Uzbekistan. This marks a decrease of 7.12% from 2023, when trade reached $3.23bn, and 8.54% from 2022, when it amounted to $3.28bn.
On October 22, the Uzbek-Kazakh Interregional Forum took place in Samarkand, bringing together delegations led by Uzbekistan’s Minister of Investments, Industry, and Trade Laziz Kudratov and Kazakhstan’s Minister of Trade and Integration Arman Shakkaliev. The event was attended by heads of ministries, regional administrations, and over 200 large companies from both nations.
In his opening speech, Laziz Kudratov highlighted the traditionally strong and neighborly relations between Uzbekistan and Kazakhstan, emphasizing the strategic partnership that has contributed to a rise in bilateral trade.
Over the past seven years, trade volumes have more than doubled, from $2bn to $4.4bn by 2023. Kudratov also noted that Uzbekistan currently hosts around 1,100 enterprises with Kazakh capital, operating in industries such as food processing, textile manufacturing, and building materials production.
The forum stressed the importance of expanding cooperation at the interregional level, with a particular focus on sectors like agriculture, agro-industrial development, textile production, and the exchange of technology and expertise. The recent establishment of the International Center for Industrial Cooperation “Central Asia” in Uzbekistan’s Syrdarya region was hailed as a key opportunity for entrepreneurs from both countries.
Kudratov expressed the Ministry of Investments, Industry, and Trade’s readiness to provide comprehensive support throughout all stages of project implementation, further facilitating joint efforts.
In his remarks, Arman Shakkaliev praised the deepening interregional collaboration between Uzbekistan and Kazakhstan, citing the fruitful outcomes of mutual business visits and partnerships. He called on entrepreneurs to actively engage in joint projects to boost economic cooperation.
The forum concluded with B2B negotiations and the signing of 33 agreements aimed at enhancing regional cooperation, launching joint ventures, and increasing the mutual supply of finished products. The agreements are expected to strengthen ties between the regions of Uzbekistan and Kazakhstan, paving the way for future economic growth.
