Uzbekistan and Kazakhstan are set to fortify their bilateral trade relations by establishing a joint working group aimed at overcoming barriers to commerce, as per to MIIT of Uzbekistan. The collaborative efforts come in the wake of discussions between Laziz Kudratov, the head of MIIT, and Arman Shakkaliev, the Minister of Trade and Integration of Kazakhstan, focusing on the implementation of projects outlined in a road map signed by the presidents of both nations a year ago.
Burgeoning Bilateral Trade
Key Initiatives
Creation of Joint Working Group: The central agreement revolves around the establishment of a joint working group dedicated to dismantling barriers obstructing bilateral trade. This collaborative effort underscores the commitment of both nations to fostering an environment conducive to enhanced economic cooperation.
UzKazTrade Online Trading Platform: Building on the joint foreign trade company, UzKazTrade, the two countries will jointly develop an online trading platform. This platform aims to facilitate the sale of a diverse array of goods in both Uzbekistan and Kazakhstan markets, fostering smoother trade transactions.
International Center for Industrial Cooperation "Central Asia": Both parties have agreed to expedite the establishment of an international center for industrial cooperation named "Central Asia." This center will focus on producing import-substituting products, utilizing the production facilities in the border areas of Uzbekistan and Kazakhstan.
Expanding UzKazTrade's Role: UzKazTrade, established in March last year, will play a pivotal role in these initiatives. The joint company initially focused on supplying fruits and vegetables from Uzbekistan and flour from Kazakhstan. Now, it plans to broaden its scope by wholesaling fruits and vegetables from Uzbekistan to Kazakhstan without a commercial markup.
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