Uzbekistan and Kazakhstan Set $10 Bn Trade Turnover Target

Uzbekistan and Kazakhstan have agreed on a plan to more than double their bilateral trade turnover, aiming to reach $10 bn by 2030. The initiative was formalised through a newly signed cooperation programme.

On March 15, Uzbekistan’s Minister of Investments, Industry and Trade, Laziz Kudratov, met with Kazakhstan’s Minister of Trade and Integration, Arman Shakkaliyev, to discuss trade and economic cooperation.

The programme sets a target of increasing trade turnover to $10 bn within the next five years. In 2024, trade between the two countries amounted to nearly $4.3 bn.

To facilitate this growth, Uzbekistan and Kazakhstan plan to enhance trade conditions by eliminating administrative barriers and increasing the supply of goods.

Kudratov and Shakkaliyev also reviewed the progress of joint projects worth a combined $7 bn, the activities of UZKAZTRADE, and the development of regulatory frameworks for the Central Asia Industrial Cooperation Centre.