Kazakhstan participates in III Tashkent International Investment Forum
Kazakhstan and Uzbekistan embarked on significant steps towards expansion of relations during the III Tashkent International Investment Forum held on May 2-3, which focused on the prospects of development of the Central Asian region. The event also witnessed launch of Trade Connect Central Asia+ project, Kazinform News Agency learned from the press service of the Kazakh Ministry of Foreign Affairs.
Deputy Minister of Foreign Affairs of Kazakhstan Nazira Nurbayeva participated in the forum.
Kazakhstan and Uzbekistan, resting on common history, culture and traditions, good-neighborly relations, keep on strengthening the cooperation in all areas. Last year, commodity turnover between the two countries exceeded $4 billion. In line with the two presidents’ instruction, the countries intend to raise this indicator to $10 billion.
In recent years, Kazakhstan and Uzbekistan achieved a huge progress in industrial cooperation. The sides are currently working on 60 projects worth $2.6 billion, 55 of which are implemented in Kazakhstan and five projects are implemented in the territory of Uzbekistan.
11 joint projects amounting to $144 million have been successfully implemented in the territory of Kazakhstan. Three joint projects worth $181 million are under implementation now.
The two sides are also working on another 46 projects worth approximately $2.3 billion.
“We have vast opportunities for further development and ramping up cooperation in priority sectors. Therefore, we propose to work jointly on the projects in the field of energy, industry, transport, agriculture, water use, ecology, and education,” Nazira Nurbayeva said.
Nazira Nurbayeva also emphasized huge potential for the expansion of regional interaction. In this context, the soonest implementation of the Central Asia International Center for Industrial Cooperation is deemed as the most important step. The project is expected to become both a model for an effective industrial interaction, and a key platform for actively developing North-South Central Asian Economic Corridor.
The forum also witnessed the launch of Trade Connect Central Asia+ (TCCA+) project of the International Islamic Trade and Finance Corporation (ITFC).
The project aims at the achievement of inclusive economic growth and regional economic cooperation, as well as at the development of trade among the Central Asian countries, Azerbaijan and other countries.
The TCCA+ programme will enable to improve production, facilitate regional trade by reducing border crossing time and expenses, increase regional business interaction and improve regional competitiveness by reforming trade policy and raising efficiency of trade support institutions between the member countries.
