Kazakh business presented its products in Tashkent

The Kazakhstan Trade and Economic Mission was held in Tashkent. Companies operating in the fields of food production, petrochemicals, medical devices and pharmaceuticals, mechanical engineering, building materials, IT, etc. presented their products to Uzbek buyers.

The Kazakh delegation was headed by Azamat Askaruly, General Director of JSC "QazTrade", an export support operator.

Opening the official part of the Trade and Economic mission, Askaruly noted that this meeting is the first big meeting of business this year.

- Every year our countries exchange trade and economic missions. This allows entrepreneurs to learn more about new products and new players in the market or expand their export-import field. Within the framework of the current TEM, not only more than 100 B2B negotiations with potential counter-partners from the Uzbek side took place, but also field meetings with major traders, retail chains, logisticians, manufacturers, commodity exchange. We have seen a high interest on the part of Uzbek business in Kazakhstani goods and services," commented A.Askaruly, CEO of QazTrade.

Kazakhstan is one of the five leading foreign economic partners of Uzbekistan. More than half of the goods of foreign trade turnover (more than 10 billion US dollars) Uzbekistan transits through the territory of Kazakhstan.

On the Uzbek side, more than 100 companies took part in the meetings of the Trade and Economic Mission of Kazakhstan to Uzbekistan.

Within the framework of the TEM, 5 agreements were signed on the supply of Kazakh products totaling $20.8 million.

The trade turnover between Kazakhstan and Uzbekistan in 2021 amounted to $3.9 billion, which is 33.1% higher than in 2020.

At the same time, Kazakhstan's exports to Uzbekistan increased by 33% and amounted to $2.8 billion. Imports from Uzbekistan to Kazakhstan amounted to $1.1 billion in 2021.

The government of the two countries has set a task to increase the bilateral trade turnover to $10 billion. The increase in the volume of mutual trade will be facilitated, among other things, by the decision of the Uzbek authorities to establish a zero rate of import customs duty on a number of consumer goods, including some foodstuffs.