UzKazTrade will start work with the supply of fruits and vegetables from Uzbekistan and flour from Kazakhstan.
The Trade Policy Development Center of Kazakhstan QazTrade and the Uztrade company signed documents on the establishment of the UzKazTrade foreign trade company, QazTrade reported.
The main mission of the new enterprise will be to increase trade between the two countries. To do this, UzKazTrade will be engaged in market research and competitive analysis of products manufactured in Uzbekistan and Kazakhstan.
The company’s specialists will coordinate mutual trade, help businesses with the search for buyers, certification and promotion of goods. Also, with their help, the supply of equipment, components, raw materials and materials from Uzbekistan and Kazakhstan to enterprises will be organized.
At the first stage, UzKazTrade plans to purchase fruits and vegetables in Uzbekistan for the Kazakh market, Nuraly Bukeikhanov, head of QazTrade, said. It will also help Kazakhstan to sell flour products to its southern neighbor with the possibility of re-export to Afghanistan.
The creation of a joint company will allow local enterprises to increase the supply of goods to the markets of the two countries and contribute to the removal of barriers in bilateral trade, Bukeikhanov said. In addition, this will reduce dependence on imports from third countries.
According to QazTrade, the Uzbek-Kazakh trade turnover for 2022 reached $5 billion, surpassing the previous year by 29.8%. Exports from Kazakhstan grew by a third to $3.7 billion, with copper ore, aluminum, cars, grain, meat and sunflower oil becoming the main commodities.
In turn, the supply of Uzbek goods to Kazakhstan amounted to $1.3 billion (+21.4%). These are primarily engines and other parts for cars, rolled steel, bricks, ceramics, and grapes.
