ASTANA, Kazakhstan, August 8. Kazakhstan and Uzbekistan plan to establish a Joint Investment Fund, Trend reports via the press office of Uzbekistan's President Shavkat Mirziyoyev.
The fund's creation was announced following President of Uzbekistan Shavkat Mirziyoyev's meeting with his Kazakh counterpart Kassym-Jomart Tokayev in Astana.
"An agreement was reached to expedite the construction of the International Center for Industrial Cooperation in the Syrdarya region, which will house various enterprises. To financially support large-scale projects, the establishment of a Joint Investment Fund will be considered. Discussions also covered providing favorable conditions for transit cargo transportation, building joint logistics complexes, and developing road and rail routes between the two countries," the report states.
It was noted that special emphasis is placed on increasing trade volume, particularly through the creation of mutual markets and reducing reliance on imports from third countries.
"In this context, the governments have been tasked with adopting a program to boost trade turnover to $10 billion by the end of the month. To advance industrial cooperation, a portfolio of new agreements and contracts totaling $7 billion has been prepared for this summit. These include projects in energy, transportation and logistics, metallurgy, textiles, agriculture, construction, and regional cooperation," the report adds.
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