The construction of the International Center for Industrial Cooperation (ICIC) “Central Asia”, located on the Kazakh-Uzbek border, is set to commence in August of 2024. Products manufactured by the ICIC will be marketed in both countries and exported to third countries. This initiative is expected to boost the mutual trade turnover between Kazakhstan and Uzbekistan to $10bn. The Vice Minister of Trade and Integration of the Republic of Kazakhstan, Kairat Torebayev, made this announcement during his working visit to Uzbekistan.
The project aims to establish a self-contained complex, providing all necessary conditions for production and wholesale trade. Kazakhstan allocated 50 hectares for the project, with plans to expand it to 100 hectares. A significant development in the project was the signing of an agreement with an Uzbek cotton processing company during a working group meeting. The company will be allocated an area of 15 hectares within the complex to establish its production.
Bekmurod Akbarov, deputy head of the investment and trade department of the Syrdarya region of Uzbekistan, representing the Uzbek side, stated that the construction is projected to be completed by 2027.
As for now, negotiations are ongoing with investors and entrepreneurs interested in starting their production within the ICIC. The project has garnered interest not only from local entrepreneurs but also from foreign businesses. Before this, the necessary infrastructure will be established.
Following the meeting, a joint document was signed by the parties, agreeing to enhance oversight of the project’s progress in their respective territories.
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