Uzbekistan and Kazakhstan have taken a step toward strengthening economic ties, signing a program to increase bilateral trade turnover to $10bn by 2030. As part of this effort, both countries also approved a schedule for mutual visits by regional leaders in 2025 to enhance cooperation at the local level.

The agreement was reached during a meeting between Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, and Kazakhstan’s Minister of Trade and Integration, Arman Shakkaliyev. The ministers reviewed the implementation of existing trade and investment agreements and outlined further steps to boost economic collaboration.

A key highlight of the discussions was the recent opening of the Kazakh products pavilion at the Termez International Trade Centre. Kudratov expressed confidence in the pavilion’s success, noting its strong appeal to Afghan businesses and its role in facilitating cross-border trade.

Trade between the two nations continues to grow, with turnover reaching nearly $4.3bn in 2024. This increase has been driven by rising exports of food products, textiles, non-ferrous metals, chemical products, and plastics. Both sides reaffirmed their commitment to eliminating trade barriers and improving conditions for mutual market access.

Investment ties are also deepening, with 1,042 Kazakh-funded enterprises currently operating in Uzbekistan, primarily in trade, IT, construction, finance, and real estate. At the same time, over 4,500 Uzbek companies are registered in Kazakhstan. The two countries agreed to strengthen support mechanisms for entrepreneurs to further expand investment cooperation.

With a clear roadmap in place, Uzbekistan and Kazakhstan are set to accelerate economic integration, aiming for long-term trade and investment growth.