Kazakhstan and Uzbekistan have agreed to increase export of cars manufactured together at the LLP SaryarkaAvtoProm site, NewTimes.kz reports referring to the press-service of JSC ESK KazakhExport.
The corresponding cooperation agreement was signed by the board chairman of the Export Insurance Company KazakhExport JSC Ruslan Iskakov and the head of Uzavtosanoat Shavkat Umurzakov during the presentation of the Chevrolet model range in the national pavilion.
The meeting was also attended by Prime Minister Askar Mamin.
The document provides for the use of KazakhExport financial-insurance instruments to finance the export of Kazakhstan cars to the Republic of Uzbekistan.
As part of the agreement, the first deal worth $11.8 million to supply 766 JAC S3 and JAC S5 cars to the Uzbek market has been carried out.
This transaction was implemented within the framework of export trade financing of KazakhExport through SB Sberbank JSC.
In 2013, the Chinese crossover JAC S3 debuted, and by 2017, its production in Kazakhstan was established (at the Kostanay plant of SaryarkaAvtoProm). One can learn technical characteristics of the car here.