BAKU, Azerbaijan, December 21. Uzbekistan, in cooperation with Kazakhstan and Azerbaijan, are looking to establish a "Turkic Auto Industry conglomerate" said a report in the Uzbek media, which was later confirmed to Trend by a source in the Uzbek Presidential Administration.
No further details have been provided on the matter.
The conglomerate idea involves establishment of cooperation between Uzbekistan’s UzAuto Motors, Azerbaijan's Azermash vehicle production plant, and Saryarka AvtoProm LLP, the largest automobile manufacturing enterprise in Kazakhstan.
The mentioned companies have been assembling Chevrolet cars from parts supplied by Uzbekistan, for several years now.
The idea to establish a conglomerate is based on strong ties in machine-building of the three countries. For example, back in June 2022 a Memorandum on localization of car production in Azerbaijan between Azermash OJSC and UzAvtoSanoat JSC’ was signed by Chairman of Board at Azermash Emin Akhundov and Deputy Chairman of UzAvtoSanoat Sardor Tadjiyev.
Meanwhile, within the framework of the Uzbek-Kazakh business forum, several agreements in the field of car production were signed in December, 21, in Tashkent.
Besides, another agreement has to do with supply by Uzavtosanoat of Chevrolet parts worth $500 million to the Saryarkaavtoprom enterprise.
Most likely, the conglomerate idea has to do with closer cooperation in terms of assembly of new Chevrolet models in Azerbaijan and Kazakhstan with the help of UzAuto Motors, as well as expanding existing capacities and increasing the supply of components from Uzbekistan to these countries.
The launched "Turkic Automotive Industry conglomerate" is estimated to cover the markets of three countries of some 65 million people.