Unrealized trade potential between Central Asian countries estimated at $1.1 billion

The unrealized trade potential between the countries of Central Asia is estimated at $1.1 billion. This is stated by the director of the Center for Economic Research and Reforms Obid Khakimov at a panel session within the framework of the IDB Board of Governors annual meeting in Tashkent.

“The countries of Central Asia have great potential for closer cooperation and interaction. Calculations show the presence of unrealized trade potential between the CA countries at $1.1 billion,” he said.

In particular, food products account for about $530 million, chemical products - $180 million, metallurgy - $120 million, light industry - $110 million.

According to Khakimov, Uzbekistan has an unrealized export potential with the countries of Central Asia in the amount of more than $600 million.

The head of the center noted that closer cooperation between countries will contribute to the emergence of regional value chains, which will lead to lower production costs. To this end, Khakimov proposed creating favorable conditions for increasing cross-border trade and investment.