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Central Asia Economic Outlook: March 2019 (2)

19 September 2019
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Kazakhstan

Macroeconomic

Astana renamed as Nur-Sultan city
Commodity turnover between Kazakhstan, EAEU countries increases
27 investment projects put into operation via Kazakh Invest
National Bank of Kazakhstan plans to reduce inflation
Nearly quarter of Kazakhstan's active small companies operate in Almaty
27 investment projects put into operation via Kazakh Invest
Kazakhstan's GDP growth accelerating
National Bank of Kazakhstan plans to reduce inflation
Investment in Kazakhstan's processing industry declines sharply

Finance & insurance

Trading of KazAtomProm shares on AIX amounts to $16M
Number of credit cards use in Kazakhstan increases by over 27%
Tsesnabank shows largest increase in capitalization among Kazakhstan banks
Fitch affirms ratings of Kazakh Altyn Bank
Cash in circulation decreases in Kazakhstan

Industry

Light industry expanding in Kazakhstan
Kazakhstan steel enterprise to increase steel production by over 18%
Gold production in Kazakhstan in 2019 increase by 5%
Investment in Kazakhstan's processing industry declines sharply
Swiss-based company to build fertilizer production complex in Kazakhstan

Foreign economic relations

Kazakhstan lifts ban on importing pomegranates from Uzbekistan
Kazakhstan offers Uzbekistan way to enter EAEU market
North Kazakhstan enterprise exports gluten to Europe, US
French investors ready to invest 200M euros in economy of North Kazakhstan
Trade between Kazakhstan, Malaysia quadruples
GM Uzbekistan exports first batch of cars to Kazakhstan
Iran calls for development of ties with Kazakhstan

Energy

OPEC forecasts Kazakhstan’s oil output to grow slightly
Kazakhstan, Uzbekistan ratify agreement in energy field
Lukoil shows interest in development of another oil block in Kazakhstan
Uzbekistan eyes to import Kazakh oil despite suspended construction of Jizzakh refinery
Kazakhstan to reduce oil production by 300,000 barrels per day
Risen Energy Spain to help Kazakhstan develop solar energy
Kazakhstan to annually increase gas production
3 more sources for Southern Gas Corridor; which has more chances?
Risen Energy Spain to help Kazakhstan develop solar energy
Kazakhstan to annually increase gas production
Kazakhstan recovering from big oil field fire, vice-minister arrives at scene

Agriculture

KazAgro unites two subsidiaries
Kazakhstan's Pavlodar region to increase acreage
Lending to agro-industrial complex in Kazakhstan decreases

Transport

Uzbekistan, Kazakhstan to jointly produce 16,000 cars
Kazakhstan Railways plans to increase freight tariff by over 7%
Kazakhstan airlines gains over $1.3B for two months
Car production to double in Kazakhstan
Kazakhstan plans to double car production
Turkmenistan reduces coefficients to tariff rates for cement transportation via railways
Kazakhstan, Spain agree to launch direct flights

Turkmenistan

Macroeconomic

Turkmenistan starts production of roofing materials
Turkmenistan implements pilot project for declaration of goods at border posts
National Organization of Turkmenistan for Bar Codes taking part in introduction of digital economy
Turkmenistan introduces internal money transfer system
IMF praises achievements of Turkmen economy
Turkmen joint-stock commercial bank working to connect to MasterCard
Turkmenistan aims to export confectionery

Foreign economic relations

Turkmenistan, Belarus to hold joint business forum
US appoints ambassador to Turkmenistan
Turkmenistan, Bahrain sign number of intergovernmental documents
Turkmenistan ready to expand partnership with Japan in transport, agro-industry
Turkmenistan offers Estonia to prepare new draft trade, economic agreement
Turkmenistan, Israel mull prospects for co-op in trade & agriculture
Turkmenistan, Italy strengthen trade & economic partnership
Italy exploring prospects of partnership with Turkmen private business

Energy

Kyrgyzstan intends to accelerate project of Turkmen gas transit to China
Turkmenistan to modernize oil refineries
Turkmenistan intends to offer Japan to invest in TAPI project
Turkmenistan’s largest field receives new industrial gas inflow
Bahraini petrochemical company signs agreements with Turkmenistan
Turkmenistan invites Bahrain to participate in TAPI gas pipeline project
UK, Turkey buy oil products in Turkmenistan
Turkmenistan to modernize oil refineries
Russian oil company resumes operations in Turkmenistan
Turkmenistan, Japan to discuss joint oil and gas investment projects
Turkmenistan's gas exports soar
UAE-based company invests heavily to develop Turkmen shelf of Caspian Sea
Russia ready to supply pipes for gas projects in Turkmenistan
Turkmenistan continues talks with Russian Gazprom on resuming gas supplies
Turkmen Oil, ARETI sign memorandum of understanding
Petronas mulls partnership with Turkmenistan regarding Caspian gas fields
UAE-based company invests heavily to develop Turkmen shelf of Caspian Sea

Agriculture

Cotton sowing soon to start in Turkmenistan
Turkmenistan increases export of vegetable products
Turkmenistan actively developing sericulture

Transport

Turkmenistan eyes to expand air traffic with Asia-Pacific region
Turkmenistan aims to co-op with Toyota
Turkmenistan reduces coefficients to tariff rates for cement transportation via railways
Turkmenistan, Japan mull establishing direct flights
Lapis Lazuli Corridor to boost bilateral trade between Afghanistan, Georgia in coming years

Uzbekistan

Macroeconomic

KFAED approves $30M credit line to Uzbekistan
Uzbekistan’s foreign trade deficit amounts to $319.2 million
Uzbek authorities prepare memorandum on foreign trade regime for WTO accession
Uzbek Foreign trade turnover amounts to over $6B
WB to send $200M to develop small businesses in Uzbek villages
Uzvtortsvetmet modernizes capacities, realizes export expansion
Uzbekistan, UAE to upgrade infrastructure of Samarkand
Gold, energy dominate in Uzbek commodity exports
Uzbek government ceases regulation of price for cotton oil
Uzbekistan to stabilize prices for meat, dairy products

Finance & insurance

Uzbekistan, Russia to sign agreement on integration of national payment card systems
Uzbekistan makes amendments to legislation on easy payments in cash
Trustbank of Uzbekistan resumes participation in currency trading
EBRD extends new trade finance facility to UzPromstroybank
Trading in precious metals begins on Uzbek exchange market
Uzbek Central Bank suspends nine commercial banks from trading on currency exchange
Fitch rates four state-owned Uzbek banks
MasterCard to help developing payment system of Uzbekistan
S&P affirms Uzbek Bank's rating at B/B
Fees of Uzbek insurance company amounts to over $3M
Uzbek, S.Korean banks sign trade finance agreement
MasterCard to help developing payment system of Uzbekistan

Industry

Uzbekistan to begin exporting textiles through UK online platform
Manufacturing enterprises leading in Uzbekistan in terms of production
Uzbekistan can turn Navoi region into FEZ for high-tech industries
Uzbek enterprises manufacture products for over $5B
Tashkent region leads in total industry share of Uzbekistan
Uzbek factory begins to produce new types of products

Foreign economic relations

Uzbekistan agrees with 5 Japanese companies on export of fruits, vegetables
Uzbekistan increasing its presence in Chinese market
US, Austrian companies to invest in plant construction in Uzbekistan
Turkish company to build new thermal power plant in Uzbekistan
Uzbekistan starts new production with South Korean funds
New enterprise with Russian capital to open in Uzbekistan
Uzbek-American business forum to be held in the US
Belarus plans to increase exports of pharmaceutical products to Uzbekistan
Uzbekistan, UAE reach agreements on projects worth over $10B
Uzbekistan begins to supply cement to Afghanistan
China is undisputed leader in import of machinery, equipment to Uzbekistan
Uzbekistan, Kuwait implement social projects in Aral Sea region

Energy

Uzbekistan increases car output, reduces gasoline production in 2019
Uzbekistan explores possibility of developing shale gas, oil
Lukoil to start exploration on three investment blocks in Uzbekistan
Uzbekistan suspends construction of oil refinery in Jizzak region
Kazakhstan, Uzbekistan ratify agreement in energy field
Uzbekneftegaz plans to open new oil fields in 2019
Uzbekneftegaz, Gazprom JV plan to produce 1.5 bcm of gas by end of 2019
Kyrgyzstan intends to accelerate project of Turkmen gas transit to China
Uzbekistan may reduce price of gas almost twice
International consortium invests $5.2B in oil, gas development in Uzbekistan
US company increases natural gas production in Uzbekistan
Uzbekneftegaz plans to open new oil fields in 2019
Uzbekneftegaz, Gazprom JV plan to produce 1.5 bcm of gas by end of 2019
Russian Tatneft plans to implement a number of projects in Uzbekistan
OPEC provides loan to Uzbekistan for $54M
International engineering company may establish joint venture in Uzbekistan
Uzbekistan launches new hydropower plant
Uzbekistan reduces price of gas for local boilers
Uzbekistan produces over 150 K tons of gasoline in 2019

Agriculture

Uzbekistan to supply almonds to Malaysia
Uzbekistan increases import of animal feed more than twice
Russian agro-industrial holding to build greenhouse complex in Uzbekistan for 300M euros
US lifts ban on purchase of Uzbek cotton
Uzbekistan reorganizes its livestock industry

Transport

Bus production doubles in Uzbekistan
Uzbekistan plans to launch production of Isuzu pickup
Bus production doubles in Uzbekistan
GM Uzbekistan increases car production by over 0.2 times
Uzbek MMC starts construction of railway infrastructure for development of new field
General Motors to support development of auto industry in Uzbekistan
Uzbekistan to transfer brick, cement and lime plants to alternative fuels
Uzbek Airlines increases flight frequency to New York