Kazakhstan plans to double commodity turnover with CA countries

Kazakhstan plans to double commodity turnover with CA countries
Photo credit: Pixabay

Kazakhstan’s commodity turnover with Central Asian countries reached $7.7 billion last year. This is what Vice Minister of Trade and Integration Kairat Torebayev said at the 13th Central Asian Forum in Almaty, Kazinform News Agency reports.

Addressing the participants, Kairat Torebayev said that Kazakhstan’s commodity turnover with Central Asian countries made $7.7 billion last year, despite slight decrease at  3.8%.

“Together with the Central Asian countries, we are planning to double this amount in the nearest time,” he said.

In his words, the Ministry of Trade sets a task to increase commodity turnover with Uzbekistan up to $10 billion, with Kyrgyzstan – to $2 billion, and with Tajikistan – up to $2 billion in the nearest 5-10 years.

According to him, the landlocked Central Asian countries should focus more on intra-regional trade, and development of hard and soft infrastructure.

Speaking on hard infrastructure, the Kazakh Vice Minister said that Kazakhstan is developing a network of transborder hubs together with Uzbekistan and Kyrgyzstan.

He said the agreements on establishment of these hubs  will be ratified by the Parliament of Kazakhstan in the nearest time.

He emphasized that these hubs will ensure a new growth point.

“We see that trade with Uzbekistan is advancing with by leaps and bounds, but further development depends on infrastructure. Our checkpoints are operating at their maximum. These checkpoints are being repaired now. New railroads are being built. We also want to deliver goods between Kazakhstan and Uzbekistan, we want to create goods on the border of Uzbekistan and Kazakhstan using the two countries’ economic potential. Thus, an international center of trade-economic cooperation between Kazakhstan, Uzbekistan and Kyrgyzstan will be established,” said Torebayev.

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