The 6th Meeting of the Kazakh-Uzbek Business Council Took Place in Astana

The sixth meeting of the Kazakh-Uzbek Business Council was held in Astana today on the eve of the visit of President of the Republic of Uzbekistan Shavkat Mirziyoyev. The event was attended by Alibek Kuantyrov, Deputy Minister of Foreign Affairs of the Republic of Kazakhstan, Murat Karimsakov, Chairman of the Board of the Chamber of International Commerce of Kazakhstan, Dilshod Rasulov, Deputy Chairman of the Chamber of Commerce and Industry of Uzbekistan, as well as entrepreneurs and business representatives from both countries. Following the meeting, a number of key agreements were concluded that should contribute to a new stage in the development of bilateral relations.

The Uzbek vector remains one of the main priorities of Kazakhstan's foreign policy. Both countries demonstrate effective cooperation aimed at strengthening economic ties and improving the well-being of their peoples. Cooperation between Kazakhstan and Uzbekistan covers many areas, including trade, investment, transport and energy.

"Important examples of our cooperation include projects in the chemical industry, agriculture, the electrical industry and mechanical engineering. In Sarani, we started joint production of household appliances, which allowed us to sell more than 37 thousand units of equipment worth 1,281 billion tenge in the first five months of 2024," Chairman of the Board of the Chamber of International Commerce of Kazakhstan Murat Karimsakov said during his speech.

He also stressed the importance of developing transport infrastructure, which plays an important role in shaping transit corridors between Europe and Asia. It is noted that the construction of the new Darbaza–Maktaaral railway line will increase the capacity by 10 million tons and shorten the transit distance.

According to Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the Republic of Uzbekistan Beibut Atamkulov, Kazakhstan consistently ranks 3rd among Uzbekistan's trading partners after China and Russia. By the end of 2023, mutual trade amounted to 4.4 billion dollars. In the first half of 2024, the trade turnover has already amounted to 1.9 billion US dollars. The main exports from Kazakhstan to Uzbekistan are wheat, flour, vegetable oil, meat, potatoes and barley. The main imports from Uzbekistan include fruits, vegetables, onions and garlic.

 "Today, Kazakhstan is among the top 5 countries in terms of the number of tourists visiting Uzbekistan, which indicates a growing interest in the cultural and historical heritage of Uzbekistan," he said.

The Ambassador also mentioned the high level of business cooperation between the two countries, including the successful operation of 1,043 joint ventures with Kazakh capital.

The Uzbek delegation to the Business Council was headed by Dilshod Rasulov, Deputy Chairman of the Chamber of Commerce and Industry of Uzbekistan, who stressed the importance of holding such joint events to strengthen business ties between our countries.

“We attach great importance to mutually beneficial cooperation and reliable business relations between our entrepreneurs. By the end of 2023, the trade turnover between Uzbekistan and Kazakhstan amounted to more than 4.3 billion US dollars, of which exports – more than 1.3 billion US dollars, and imports – more than 3 billion US dollars. Moreover, we can confidently state the sustainability of the Business Council's activities, within the framework of which business events are held alternately in the two countries on a regular basis,” Dilshod Rasulov said.

Following the meeting, important documents were signed that are designed to give a new impetus to the development of bilateral relations.  In particular, a Memorandum of Cooperation was signed between the Arbitration center of the Atameken National Chamber of Entrepreneurs and the Tashkent International Arbitration Center. This agreement is intended to strengthen the legal framework for resolving disputes between entrepreneurs of the two countries. The parties also signed a Protocol providing for the opening of a trading house and a business center of the Republic of Uzbekistan in the Republic of Kazakhstan, as well as the establishment of a Kazakh-Uzbek Business Association in Tashkent.