TASHKENT, Uzbekistan, February 28. Uzbekistan and Kazakhstan discussed strengthening cooperation in banking and investment, Trend reports.
The matter was reviewed at a meeting between Deputy Prime Minister of Uzbekistan and Minister of Economy and Finance Jamshid Kuchkarov with Chairman of the Management Board of Kazakhstan's Halyk Bank Umut Shayakhmetova to explore opportunities for deepening financial collaboration between the two countries.
During the meeting, the sides focused on expanding investment ties and supporting business activities. The leadership of Halyk Bank presented its 2024 investment plans and financial performance, emphasizing the development potential of Tenge Bank. Uzbek officials highlighted the importance of strengthening cooperation in the banking sector to facilitate economic growth.
Special attention was given to supporting entrepreneurs, including mechanisms for attracting investments and introducing new financial tools. Digital loans for individual businesses and online onboarding for companies were discussed as key solutions to enhance financial accessibility.
Both sides expressed interest in further strengthening bilateral cooperation and implementing joint projects that will contribute to the economic development of Uzbekistan and Kazakhstan.
Meanwhile, Kazakhstan has become one of the largest foreign economic partners of Uzbekistan, ranking third (after China and Russia) for January 2025. A total of 7 percent of Uzbekistan’s total foreign trade turnover comes from trade with Kazakhstan. In January, Uzbekistan conducted trade with Kazakhstan worth $313.5 million, which is $42.6 million more than in the same period in 2023. In January 2023, it was $270.9 million.
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