During the 16th summit of the Economic Cooperation Organization in Tashkent, the Government of the Republic of Uzbekistan and the Government of the Republic of Kazakhstan signed a landmark Agreement aimed at regulating the operations of the International Center for Industrial Cooperation "Central Asia." This collaborative initiative is set to usher in a new era of industrial partnership and economic growth between the two Central Asian nations.
The agreement was officially signed by Uzbekistan's Minister of Investments, Industry, and Trade, Laziz Kudratov, and Kazakhstan's Minister of Trade and Integration, Arman Shakkaliev, signifying a shared commitment to fostering greater cooperation and economic development between the two nations.
The primary objectives of the International Center for Industrial Cooperation "Central Asia" are multifaceted, designed to bolster economic ties and enhance the industrial capabilities of both Uzbekistan and Kazakhstan. These objectives include:
- Creating Favorable Conditions for Interstate Cooperative Relations: The center aims to establish a conducive environment for the development of interstate cooperative relationships and international value chains. This will pave the way for increased trade and collaboration between the two nations.
- Efficiency Enhancement in Border Region Production: One of the center's key tasks is to optimize the utilization of the production base in the border regions of Uzbekistan and Kazakhstan. By doing so, the two countries seek to maximize the economic benefits of these strategically located regions.
- Modernizing and Enhancing Production Processes: Modernization and optimization of production processes within the center will be a priority. This effort is expected to enhance the competitiveness of industrial enterprises in both countries, thus making them more competitive on the global stage.
- Expanding Industrial Cooperation: The agreement sets the stage for expanded industrial cooperation between Uzbekistan and Kazakhstan. It aims to facilitate the production of import-substituting products and encourages the development of joint ventures, which could boost the economic prospects of both nations.
The signing of this agreement represents a significant step towards strengthening the economic ties and industrial capabilities of Uzbekistan and Kazakhstan. It underscores the commitment of both governments to mutual growth and cooperation in various sectors, including manufacturing, trade, and international value chains.
The International Center for Industrial Cooperation "Central Asia" is expected to serve as a vital platform for realizing the shared economic potential of both countries. This initiative may also encourage other nations in the region to explore similar collaborative opportunities, contributing to the overall economic development and stability of Central Asia.
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