The trade turnover between Kazakhstan and Uzbekistan amounted to $ 1.2 billion.

Nur-Sultan, June 2, 2021 - Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov met with Deputy Minister of Investment and Foreign Trade of the Republic of Uzbekistan Badriddin Abidov to discuss issues of strengthening trade relations between the countries.

Bakhyt Sultanov noted that Uzbekistan is the main trade partner of Kazakhstan in Central Asia. Thus, statistics for the current period indicate a steady recovery in the volume of trade in goods.

"Only in January-April 2021, the trade turnover amounted to $ 1.2 billion, which is 41.3% higher than in the same period of the previous year ($0.8 billion). Exports increased by 54% and amounted to $899.2 million, imports increased by 11% and amounted to $272.0 million, " Bakhyt Sultanov said.

It should be noted that from January 1, 2021, Uzbekistan does not apply excise taxes on imports of goods from Kazakhstan. Thus, for 4 months of 2021, there is an increase in exports of 85 commodity items from Kazakhstan to Uzbekistan, for which the excise tax was previously applied, by 74.3% in the amount of $50.3 million. For the same period in 2020, the volume of exports for these goods amounted to $28.9 million.

At the same time, the parties discussed in detail the implementation of the Action Plan for Organizing the activities of the International Center for Trade and Economic Cooperation "Central Asia", signed by the Prime Ministers of the parties on April 10, 2021, following the Ceremony of laying the capsule of the ICTEС.

The parties noted the need to intensify negotiations within the framework of a bilateral Working Group formed from among interested state bodies and organizations to discuss and agree on the draft Concept of the .

In addition, Bakhyt Sultanov re-emphasized the great potential of the ICTEС project being created, including the creation of cooperative projects on the production of export-oriented products with the involvement of the labor resources of the two countries, creating for them the "principle of comfortable movement".

In turn, the Deputy Minister of Investment and Foreign Trade of the Republic of Uzbekistan, Badriddin Abidov, said that within the framework of the ICTEС project, Uzbekistan is ready to eliminate all trade barriers and is also ready to expand mutual trade.

The parties also discussed the formation of a joint distribution network, based on the creation of new and integration of existing wholesale distribution and agro-logistics centers.

Moreover, B. Sultanov expressed interest in the participation of the Kazakh side in the implementation of the project of the International Trade Center "Termez" on the border of Uzbekistan and Afghanistan.

Following the meeting, in order to further develop trade and economic cooperation between the countries, as well as noting the potential for cooperation, the parties agreed to sign a " Memorandum of cooperation between the Ministry of Trade and Integration of the Republic of Kazakhstan and the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan on the development of trade relations», "Memorandum of Cooperation between the Ministry of Trade and Integration of the Republic of Kazakhstan and the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan" and "Memorandum of Cooperation on the joint implementation of the project to create a commodity distribution system".