The Central Asia international centre

May 7, 2019 9:54 am

Kazakhstan and Uzbekistan planned border trading centre will boost trade to $5 billion by end of 2020

Kazakhstan and Uzbekistan are planning to open the Central Asia international centre for trade and economic cooperation on their shared border. The countries have set a goal to increase bilateral trade to $5 billion by the end of 2020.

The implementation of this project will streamline cross-border trade and improve access to control infrastructure, as well as create a large trade and logistics hub in Central Asia.

The new trading centre will allow countries to coordinate their activities to improve transport logistics.

For Kazakhstan, the creation of such a centre will allow consolidating and regulating trade flows coming not only from Uzbekistan, but also transit trade flows passing through Uzbekistan.

Kazakh exports to Uzbekistan increased 27 percent in 2018 to $1.19 billion. Similarly, Uzbek exports to Kazakhstan increased 20 percent to nearly $450 million. The largest share of Kazakh exports were agricultural products and natural resources in the oil and gas industry.

Kazakhstan and Uzbekistan are the most dynamically developing countries of Central Asia.

Source URL: http://eurasiatx.com/central-asia-international-centre/