Kazakhstan and Uzbekistan are planning to more than double their trade turnover in the coming years. Arman Shakkaliev, Kazakhstan’s Minister of Trade and Integration, outlined the objective to increase trade volume to $5bn in the short term and $10bn in the medium term. This announcement followed his meeting with Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry, and Trade.

The discussions centred on enhancing trade and economic relations ahead of an anticipated summit between the two countries’ leaders. Key areas of focus included resolving current trade issues and exploring new growth opportunities. The meeting also addressed the development of the International Centre for Industrial Cooperation (ICICC) “Central Asia,” located on the border between Kazakhstan and Uzbekistan, and Uzbekistan’s transition to the 2009 Rules for Determining the Country of Origin.

Uzbekistan has formally notified its intention to adopt the 2009 Rules by the end of the year, a move expected to support increased trade turnover. The ICICC “Central Asia” project, designed to promote cross-border industrial cooperation, has identified project initiators and will showcase its initiatives in September.

In 2023, Uzbekistan was Kazakhstan’s seventh-largest trading partner, contributing over 57% of Kazakhstan’s trade turnover with Central Asia. The total trade turnover between Kazakhstan and Uzbekistan in 2023 amounted to $4.4bn.