Goods Turnover Increases between Uzbekistan and Kazakhstan

The volume of bilateral trade between Kazakhstan and Uzbekistan over ten months of this year rose by 29.8% and reached $3.26 billion, according to the Kazakhstan prime minister’s press service.

As the government reported, this rate is 10.6% higher than the same rate in 2019.

«The volume of exports from the Republic of Kazakhstan to the Republic of Uzbekistan over ten months this year rose by 31.6% and reached $2.37 billion if compared to the same period of 2020. When it comes to ten months of 2019 the growth rate is 34.3%,» the cabinet’s press service reported.

Among the main drivers of the export growth are the agricultural sector (+17%), oil refinery sector (more than twofold growth), metallurgy (+99.3%), and car industry (+28.3%).

«We’ve got a task to increase the volume of bilateral trade by up to $5 billion in short-term period and to $10 billion in the mid-range period,» the service said.

Currently, the two countries are working together on the implementation of the International Center for Industrial Cooperation dubbed «Central Asia,» which is going to be located on the border between Uzbekistan and Kazakhstan. These two Central Asian countries account for 70% of all trade operations in the entire region. According to Kazakhstan’s President Kassym-Jomart Tokayev, the two countries are going to increase the volume of the bilateral trade by up to $10 billion in the mid-range perspective. He met with President Shavkat Mirziyoyev of Uzbekistan in Nur-Sultan, the capital of Kazakhstan earlier this month.