Uzbekistan and Kazakhstan forge $7 billion business partnerships with focus on agriculture and industry

On August 7, Astana hosted the Uzbek-Kazakh business forum and official delegation negotiations, as reported by the press service of the Kazakh government.

Vice Prime Ministers Serik Zhumangarin and Jamshid Khodjaev discussed the use of investment and trade potential. Bilateral trade is expected to reach $10 billion in the coming years.

The parties agreed on the implementation of 34 investment projects with a total value of $4.4 billion and 7 trade contracts worth $2.6 billion. Corresponding documents were signed during the meeting.

The investment project package covers sectors such as energy, construction, mining, chemical industry, electrical engineering, machinery, and pharmaceuticals. However, most initiatives are concentrated in the agricultural sector.

In Kazakhstan, plans include joint cultivation of agricultural products, grain and rice processing. Another project involves the creation of a silk production facility in the Turkestan region.

Additionally, near the border with Uzbekistan, a cotton-textile complex and a logistics hub are planned to be built for 21 billion tenge ($44 million). The facility is expected to be operational by 2026-2027.

In the Mangystau region, cattle hide processing will be established. Kazakhstan's Minister of Agriculture Aidarbek Saparov, in a meeting with his Uzbek counterpart Ibragim Abdurakhmanov, highlighted particular interest in Uzbekistan's leather industry experience.

The National Elevator Association of Kazakhstan and "Technopark" signed a memorandum of cooperation in the production and maintenance of elevators. Additionally, the Unitea tea factory agreed to supply 20-30 tons of tea monthly to the Korzinka retail chain.