Kazakhstan and Uzbekistan have established a joint foreign trade company.

LLC "UzKazTrade" will focus on increasing mutual trade turnover between the two countries. Last year's figure reached $5 billion, as reported by Daryo's correspondent from Kazakhstan, citing the press service of the Ministry of Trade and Integration of the Republic of Kazakhstan.

The founders of the export-import enterprise are JSC "QazTrade Trade Policy Development Center" and JSC "UzTrade." According to Nuraly Bukeykhanov, the General Director of JSC "QazTrade," the establishment of "UzKazTrade" will assist Kazakhstani businesses in boosting the supply of goods to the markets of both countries. Additionally, the joint venture will aid in formulating proposals to eliminate restrictions and barriers in mutual trade.

"In the initial phase, we plan to purchase fruit and vegetable products from Uzbekistan to meet the needs of Kazakhstan's domestic market. Furthermore, we will assist in promoting Kazakhstani flour products in Uzbekistan, with the potential for further export to Afghanistan. We have agreed with the Uzbek side to provide preferences on logistics costs," said the head of the Trade Policy Development Center.

The project will also enhance the effectiveness of government measures aimed at reducing Kazakhstan's market dependence on imports from third countries.

It is noteworthy that imports from Uzbekistan to Kazakhstan grew by 21.4% in 2022, totaling $1.3 billion.

"Primarily, Kazakhstan imports vehicle bodies, internal combustion engines with spark ignition, grapes, flat rolled products made of non-alloy steel, lead ores and concentrates, building bricks, floor blocks, and similar ceramic products, parts and accessories for cars and tractors, and ethylene polymers," the press service of the Ministry of Trade and Integration of the Republic of Kazakhstan added.

    Svetlana Shesternyova, Almaty