Kazakhstan and Uzbekistan signed a number of investment projects

On the eve of the visit of the President of the Republic of Uzbekistan, the IV meeting of the Kazakh-Uzbek Business Council was held in Nur-Sultan.

During the meeting, the entrepreneurs of the two countries discussed logistics issues, including transit transportation, certification, access to raw materials in each other's markets, and also exchanged experience in doing business in neighboring countries.

In addition, within the framework of the organized B2B platform, the parties discussed the prospects for the development of joint cooperation in the field of information technology, export potential and the establishment of business contacts.

"The Ministry of Trade and Integration of the Republic of Kazakhstan, represented by the main body for export promotion, is actively developing trade and economic cooperation with the Uzbek Republic. Today, within the framework of the B2B contacts session, we expect the conclusion of contracts of not several billion dollars. The heads of state of Kazakhstan and Uzbekistan have set us a number of tasks, one of them is the development of trade up to 10 billion rubles.dollars. Mutual trade between the countries for 9 months amounted to $ 3.3 billion, for the year we expect trade turnover at the level of $ 4 billion. I am convinced that the agreements that are being concluded today will give an additional incentive to deepen trade and economic ties between our countries," the Minister of Trade of Kazakhstan Bakhyt Sultanov said.

On the site of the Business Council, an agreement was signed on the terms of foreign direct investment in the Republic of Uzbekistan between the construction holding BI Group and the khokim of Tashkent.

As part of a large-scale program to create a new district in Tashkent, Kazakh developer BI Group, together with Uzbek partner Murad Buildings, are implementing an investment project for the construction of housing, social and commercial infrastructure facilities totaling $500 million.

For reference:
The largest items of Kazakhstan's exports to Uzbekistan are oil and petroleum products, wheat, flour, sunflower seeds, ferrous and non-ferrous metals, inorganic chemistry products, food products. Uzbekistan imports energy carriers (gas), cars, cotton fiber, chemical products and plastics, fertilizers, fruit and vegetable products and other types of goods.