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Kazakhstan: Uzbekistan, Kazakhstan eye increasing trade turnover

2016/09/23

Acting Uzbek President Shavkat Mirziyoev met with Kazakhstan’s Initial Deputy Prime Minister Askar Mamin Sept. 22, Uzbekistan National News Agency (UzA) reported.

During the conference, the sides discussed the issues on practical implementation of agreements reached during Kazakh President Nursultan Nazarbayev’s visit to Samarkand on September 12, 2016, in particular, on the further expansion of mutually beneficial trade and economic cooperation, according to the agency.

The parties as well discussed the efficient use of the two nations’ markets and increase of the volume of bilateral trade turnover up to $5 billion.

Askar Mamin expressed Kazakhstan’s readiness to take joint measures to enhance the full and mutually beneficial bilateral trade and economic cooperation.

During the conference, a number of specific proposals and measures prepared by the two parties’ experts were approved. They included setting up joint trade houses to promote competitive industrial products, support for mutually beneficial projects by national banking and financial institutions, and activation of cooperation between the customs services, holding joint business forums and visits.

Shavkat Mirziyoev and Askar Mamin noted the need to continue mutually beneficial cooperation in the areas of transportation and transit, inclunding through the exchange of tariff preferences for freight traffic and implementation of new joint projects that will improve the competitiveness of regional transportation corridors.

The trade turnover between Uzbekistan and Kazakhstan totaled $3 billion in 2015.

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