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    Uzbekistan

    Interconnectivity among Central Asian nations indicates growth over past years

    Interconnectivity among Central Asian nations indicates growth over past years

    Recently, many countries have been trying to foster amicable ties with their neighboring nations. This trend of building friendly connections is also prevalent in Central Asian countries. The regionalization in this area is not only due to historical and cultural similarities but also serves as a defense mechanism against external threats while resolving inter-regional issues effectively.

    The Institute of Forecasting and Macroeconomic Research (IFMR) has reported partnerships have been established and developed since Shavkat Mirziyoyev was elected as the President of the Republic of Uzbekistan in 2016.

    Photo: Shavkat Mirziyoyev was elected President of Uzbekistan in 2016
    Source: BBC News

    Recent studies on Central Asian nations show a 38.4% increase in cooperation and a 5.6x surge in mutual investments from 2017 to 2021. 

    The percentage of intra-regional commerce in overall trade of the region's countries rose by 1.5 times. 80% of all tourist spots are inside a single area.

    Trade costs are four times cheaper with Central Asian nations than with other trading partners. Intra-regional migration accounted for 15.3% of all citizens entering CA nations for labor and residency.

    Thus, according to IFMR's  research for 2017-2021, the Index of Cooperation of Central Asian nations grew 1.3 times from 28% to 38%.

    22.06.2023, 14:09   Comments (0)   257
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