Deputy Prime Ministers Serik Zhumangarin and Zhamshid Khodjayev announced plans to implement investment projects and trade contracts worth $7bn during the Kazakhstan-Uzbekistan business forum.

This agreement includes the joint implementation of 34 investment projects valued at $4.4bn and 7 trade contracts worth $2.6bn, formalized through a series of official documents.

The investment projects will span several key sectors including energy, mining and geology, transport, chemical industry, construction, electrical engineering, mechanical engineering, and pharmaceuticals. Notably, a significant portion of these initiatives will focus on agriculture.

The agreed projects include joint efforts in cultivating and processing agricultural products, silk production in Turkestan, and establishing a new enterprise for packaging materials. Additionally, a joint venture will be set up in Mangistau for processing cattle hides.

This substantial cooperation is expected to enhance the investment and trade capacities of both countries, aligning with the strategic goal set by the leaders of Kazakhstan and Uzbekistan to elevate mutual trade turnover to $10bn.