“The main reasons for the decline in trade turnover between Kazakhstan and Uzbekistan, compared to 2022, are price volatility. If we take the structure of trade turnover, we have raw materials and due to the fact that wheat, ores, concentrates, there was no decrease in physical volumes, it occurred in monetary terms. Such a delta was formed,” Shakkaliyev said at a plenary session of the Majilis during the discussion of the draft ratification of the Agreement between the governments of Kazakhstan and Uzbekistan on regulating the activities of the International Center for Industrial Cooperation “Central Asia”.
According to him, in 2023-2024, the trade turnover was approximately at the same level, $4-4.1 billion.
"To increase the trade turnover to $10 billion, today a plan for $7 billion has been prepared and signed by the deputy prime ministers of both countries: 34 projects worth $4.5 billion are specific trade contracts. Now we have an additional plan of specific actions by industry to bring the trade turnover to $10 billion," he added.
Photo source: picture from an open source