Kazakhstan's Aktobe, Uzbekistan to increase bilateral trade
BAKU, Azerbaijan, Feb.27
By Nargiz Sadikhova - Trend:
Kazakhstan’s Aktobe region and Uzbekistan will double the current bilateral trade volume, Trend reports with reference to the press office of the regional akimat (administrative center).
The corresponding agreements were signed within the framework of the Second Forum of Interregional Cooperation of Kazakhstan and Uzbekistan, which is was held on Feb. 26 in Urgench city of Uzbekistan.
Head of Aktobe region Ondasyn Urazalyn and Head of Uzbekistan’s Navoi region Kobul Tursunov signed a memorandum on understanding and cooperation.
Thus, in order to provide for Aktobe region’s industrial development ventures of the region signed five-year-long agreements worth $120 million.
Trade turnover increase which amounted to $32 million in 2019 will be increased by two times in the nearest future.
Leading ventures of Kazakhstan and Uzbekistan presented their products within the framework of the forum. Travel agencies also presented tourism potential of Central Asian region to the forum’s participants.
Experts say that this forum will lead to strengthening of trade and economic relations between two countries.
The major products of Kazakh export to Uzbekistan are oil and its processed products, products of flour and cereal industry, grain, ferrous and nonferrous metals, inorganic chemistry products, food products.
Energy resources (gas), cotton fiber, chemical products and plastics, fertilizers, fruits and vegetables, and other goods are imported to Kazakhstan from Uzbekistan.
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