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Central Asia Economic Outlook: November 2019 (1)

11 December 2019
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Kazakhstan

Macroeconomic

Housing prices continue increasing in Kazakhstan
In details: State procurement process to be optimized in Kazakhstan
Kazakhstan to allocate over $1B for new program of business dev't
EBRD improves forecast for growth of Kazakhstan’s GDP
State procurement reforms allow Kazakhstan to save over $800M
Kazakhstan's international reserves nearing $30B once again
Investments into Kazakhstan's animal husbandry increase by nearly 40%
Turkey doubles investments in Kazakh economy
Investments in Kazakhstan's economy reach nearly $25B
Fitch: Real amount of problem assets in Kazakhstan higher than official data
Kazakhstan among leaders by consumer prices growth in CIS
Will Kazakhstan introduce tax on instant money transfers?
IMF: Kazakhstan shows continued growth in non-oil sector
Leading Asian venture fund to invest in Kazakhstan's startups
In details: State procurement process to be optimized in Kazakhstan
State procurement reforms allow Kazakhstan to save over $800M

Finance & insurance

International money transfers from Kazakhstan reach 2 million
Annual growth displayed by Kazakhstan’s insurance market
Gross premiums written in Kazakhstan's insurance sector up significantly
Maximal remuneration rates for physical entities deposits up in Kazakhstan
Fitch talks Kazakhstan’s Standard Life insurance company rating
Ministry: entrepreneurship dev't support in Kazakhstan brings its results
IMF to Kazakhstan: strengthening of banks, private sector growth needed

Industry

Gold and silver extraction to be launched in Kazakhstan's Zhambyl
Significant increase of uranium production observed in Kazakhstan
Prices on industrial products in Kazakhstan increase
Kazakhstan increases uranium extracting volume

Foreign economic relations

Kazakhstan, Finland trade sees increase after years of decline
Turkey’s trade turnover with Turkic-speaking countries up in September 2019
Kazakhstan aims to increase export to China by over $1.5B
Economic co-op with Kazakhstan remains priority for Romania
Kazakhstan, Afghanistan talk investment cooperation
Major Kazakh, Russian cities eye to strengthen cooperation
Number of Kazakh tourists in Turkey in September 2019
Georgia, Kazakhstan stress importance of close economic cooperation
Kazakhstan, France trade turnover exceeds $3B
Ministry: Turkey, Kazakhstan to discuss strengthening of trade relations
Kazakhstan rates 15th among list of Lithuania’s trade partners
Kazakhstan, Russia to jointly support entrepreneurship dev't
Singapore’s leading venture fund talks cooperating with Kazakhstan
Russian Copper Company to expand investments in its assets in Kazakhstan
Turkmenistan sells aerated concrete to Uzbekistan, Kazakhstan
Kazakhstan, Turkey agree to co-op on public-private partnership projects
Turkey-Kazakhstan trade turnover up by $5.6M in September 2019
Kazakhstan's trade turnover within EAEU down

Energy

Fuel prices decrease observed in Kazakhstan
Negotiations on export of Kazakh oil to Belarus underway
Kazakhstan on verge of exporting significant volume of oil to Belarus
Fate of Kazakhstan's Khazar field hangs in the balance
Kazakhstan's Tengiz field growth project to cost over $45B
US multinational engineering company to work on Kazakhstan's Karachaganak
Kazakhstan to create another renewable energy source in co-op with Russia
CPC increases oil lifting via its marine terminal
Kazakhstan calls to reassess cost of Tengiz’s growth project
Major Kazakh oil and gas company to purchase wellhead reinforcement via tender
Kazakh, Russian oil refineries to co-op to raise energy efficiency
Main drivers for renewable energy development in Kazakhstan named
Kazakhstan slightly increases oil exports
Kazakhstan plans to boost oil production to 90.5 M tons
Oil transshipment via Kazakh ports exceeds 1.5 million tons
Kazakhstan taking measures to attract investors in country's renewables
Foreign investors interested in Kazakhstan's energy sector
Fitch revises IDR rating of Kazakhstan’s Astana Gas company
EIA reconsiders previously forecast oil output in Kazakhstan
Eni: Production at Karachaganak marked new heights

Agriculture

Romania seeks opportunities for agricultural cooperation with Kazakhstan
Agriculture vehicles manufacturing launches in Kazakhstan's Kostanay
Kazakhstan's agro-industrial sector to undergo changes on state level
Kazakhstan building new wind farm in Aktobe region
Mega farm construction planned in Kazakhstan's Karaganda
Kazakhstan’s Almaty, Tajikistan seek to expand co-op in agriculture
Animal husbandry production up in Kazakhstan
Kazakh president mandates to support agriculture vehicles production

Transport

Kazakhstan allows foreign companies to fly to over 11 domestic airports
Share of secondary registered cars up in Kazakhstan
Record number of cargo trains pass through Kazakhstan, China border
Cargo vehicles transshipment volume up by over 400% in Kazakhstan's Kuryk port
Turkish consortium looks to acquire Kazakhstan's Almaty international airport
Kazakh goods - to Europe via Klaipėda Sea Port?
Qatar’s national air carrier to launch direct flights to Kazakhstan this year
Lithuania, Kazakhstan talk opening new flights, joint pilot training
Iran and Kazakhstan shipping transportation bill passed by MPs
Projects for seaports dev't implemented in Kazakhstan
Cargo, passenger turnover increases in Kazakhstan
Kazakhstan Railways to implement projects in co-op with Russian companies
Kazakhstan's Kuryk port to have new dock for heavy cargo
Number of cars operating on diesel up in Kazakhstan
Kazakhs increase expenses on purchasing cars

Turkmenistan

Macroeconomic

Procedure for leasing state property approved in Turkmenistan
Ashgabat hosts int’l conference on water issues
Turkmenistan preparing norms for state registration of individual entrepreneurs
Ashgabat to host events of UN Special Programme for Economies of Central Asia
Turkmenistan's ministry to put up state property for sale
Turkmenistan expecting high GDP growth in coming years
Ashgabat holding regional conference on administrative law
Turkmenistan preparing norms for state registration of individual entrepreneurs
IMF, Turkmenistan discussing private business development
Turkmenistan's ministry to put up more state property for sale
Turkmenistan expecting high GDP growth for 2019
Turkmenistan to take part in Tashkent meeting of Central Asian FMs

Finance & insurance

Belarus Belagroprombank starts to transfer money to Turkmenistan via Visa cards
Loan portfolio of Turkmen State Bank for Foreign Economic Affairs revealed
Turkmen state bank introduces new MasterCard, VISA cards
Turkmenistan discussing prospects for cooperation with Germany's Deutsche Bank AG

Industry

Turkmenistan increases road bitumen production
Turkmenistan sells base oil, fabric, sheet glass through Commodity and Raw Materials Exchange
Turkmenistan increases road bitumen production
Turkmenistan exports carpets to Azerbaijan
Italy eyes to finance several Turkmenistan’s industrial projects

Foreign economic relations

Turkmenistan, Georgia hold meeting on consular issues
Turkmenistan, Germany mull visa issues
Turkmenistan, Tajikistan hold political consultations
Trade turnover data between Turkmenistan, Iran disclosed
Turkey’s trade turnover with Turkic-speaking countries up in September 2019
Turkmenistan, Uzbekistan ready to build up business partnership
Turkey's exports from Istanbul, Ankara to Turkmenistan exceed $300M
Turkmenistan, Italy to hold talks at highest level
Turkmenistan, Uzbekistan ready to build up business partnership
Turkmenistan, Italy hold talks at highest level
President: Turkmenistan focuses on investment ties with Italy
Turkey-Turkmenistan trade turnover up in 9 months 2019
Turkmenistan preparing for participating in Expo 2020 Dubai
Turkmenistan eyes to expand partnership with Danish Haldor Topsoe
Turkmenistan taking part in 2nd China Int'l Import Expo in Shanghai
OSCE strengthening cooperation with Turkmenistan
Turkmenistan, Italy sign bilateral documents
Turkmen delegation attend ECO meeting
Turkmenistan, Georgia preparing package of documents
Turkmenistan taking part in Paris Peace Forum
Turkmenistan exporting urea to Europe
Ashgabat, Tbilisi strengthening business partnership

Energy

Turkey reveals volume of crude oil imports from Turkmenistan
Turkmenistan has great potential to increase export of gas
Turkmenistan looks to increase electricity exports
Turkmenistan fully provides Georgia with aviation fuel
Turkmenistan presents TAPI gas pipeline project in Italy
Italy's Eni ready to diversify activities in Turkmenistan
Italian export credit agency supports TAPI gas pipeline project
UK, UAE buy oil products in Turkmenistan
Turkmenistan supporting Afghanistan in energy sector
Italy's RINA Consulting eyes to sign TAPI gas pipeline agreement with Turkmenistan
Italian company interested in strengthening co-op with Turkmen oil & gas sector
Benefits of Trans Caspian Pipeline project for Europe are obvious
Ariel Cohen: Trans Caspian Pipeline is very easily done technically
EIA revises up forecasts for Turkmenistan’s 2020 oil output

Agriculture

Volume of Turkmenistan's tomato exports in 9 months 2019 disclosed
Turkmenistan eyes to increase licorice root exports
Over 1 million tons of raw cotton harvested in Turkmenistan
John Deere machinery to allow Turkmenistan to mechanize cotton harvesting
Rice harvest completed in northern region of Turkmenistan

Transport

Turkmen Airlines to resume flights to UK
OSCE implementing Caspian Sea's green ports development project in Turkmenistan
Turkmenistan, Tajikistan mull railway project through Afghanistan
Turkey increases cargo transportation to Turkmenistan
Turkmenistan Airlines to establish new flight direction
Turkmenistan Airlines postpones launching flights to Kuala Lumpur, Jeddah to February
Tajikistan ready to lay its section of railway to Turkmenistan through Afghanistan
Cargo transportation by Turkmen trucks soars in Turkey in September 2019
Transport corridor project between Central Asia, Persian Gulf discussed in Ashgabat

Uzbekistan

Macroeconomic

Uzbekistan reveals inflation level for October 2019
Uzbekistan’s Ministry of Finance predicts GDP growth at 5.5%
Uzbekistan seeks to reduce inflation to 9.5% in 2022
Uzbekistan receives over $100M of investments for innovations
Uzbekistan to allocate nearly $80M from budget to presidential administration
Prices in Uzbekistan’s consumer sector up by 16.3%
Housing, utility services leading in price growth in Uzbekistan’s service sector
Chinese company considers investing $200M in waste processing in Uzbekistan
Sugar sales on Uzbek Commodity Exchange up by over 40 times
Prices vary in various product segments on Uzbek Commodity Exchange
Uzbekistan may boost investment flow from EU through co-op with EPCA
European Commission reveals its projects in Uzbekistan
EBRD reveals forecast for Uzbekistan’s GDP growth in 2020
Corporate income tax to dominate in Uzbekistan
JICA may provide $100 M for project in Uzbekistan
Uzbekistan to take measures to actively develop entrepreneurship
Uzbekistan to improve level of scientific solutions into business, economy through project with KOICA
S&P affirms Uzbekistan's Tashkent region rating at 'BB-'
EBRD talks expansion into Uzbekistan’s regions
ADB may issue $500 M loan to Uzbekistan by year’s end
Uzbekistan increases amount of debt under which travelling abroad prohibited
EBRD to provide loans to Uzbekistan’s cheesemaking company
EU provides grant to Uzbekistan to join WTO
Uzbekistan sets new single customs payment rate
Number of established enterprises with foreign capital in Uzbekistan up by almost 40%
Council of foreign investors with EBRD’s participation created in Uzbekistan
Prices in for various products on Uzbek Commodity Exchange declined Nov. 4-10

Finance & insurance

Uzbekistan’s Ministry of Finance: Debt to China to exceed $3 B
Uzbekistan’s co-op with Italian export-credit agency to focus on SMEs
Uzbekistan’s Central Bank to control payment systems
RAEX-Europe: Uzbekistan’s banking sector to continue rapid growth
RAEX predicts life insurance’s share to account for 30% of Uzbekistan’s market
Largest share of GWP in Uzbekistan belongs to voluntary non-life insurance products
RAEX-Europe: Uzbekistan has most dynamic market in Central Asia region
Uzbekistan expands list of operations carried out by banks
Uzbekistan signs $74 M contract with Korean Eximbank
Uzbekistan signs 2 loan agreements with ADB

Industry

Uzbekistan seeks to supply non-ferrous metals to Asia-Pacific region
Construction of Uzbek-Chinese pharmaceutical factory begins in Uzbekistan
Uzbekistan to launch new metallurgical plant in May of 2020
Uzbekistan opens first textile trading house in USA
Uzbekistan to launch production of Hugo Boss suits
Total progress on ammonia production project in Uzbekistan - 91% (Exclusive)
Uzbekistan may bring silk exports up to $500 M
Shares of Quartz factory in Uzbekistan put up for auction

Foreign economic relations

Benefits of Uzbek businessmen working with Kazakh Stock Exchange
Azerbaijani company proposes Uzbekistan to open trading house in Baku
Chinese investors implement new project in Uzbekistan
Uzbekistan, UK sign co-op agreement in case of no-deal Brexit
REC: Uzbekistan is strategic partner for Russia
Russian Export Center lists funded projects in Uzbekistan
Japanese ICT company talks on establishing co-op with Uzbekistan
SCO countries sign 14 documents at meeting in Uzbekistan
SCO in Uzbekistan adopt trade, economic co-op program until 2035
Turkey-Uzbekistan trade turnover up by over $70M in September 2019
Uzbekistan prepares public-private partnership projects worth $6.8B
Norway to allocate funds to Uzbekistan for UN Trust Fund for Aral Sea region
Koreans intend to open business incubator in Uzbekistan
Pakistan’s export to Uzbekistan up almost 3 times
Chinese company to supply ambulances to Uzbekistan
US maintains duty-free trade for Uzbekistan
Uzbekistan to create joint venture fund with Turkish TOBB
EU, Uzbekistan close to signing new partnership agreement
IMF: Uzbekistan will be rival to Kazakhstan for investment in positive way
Uzbekistan adopts new law on Central Bank
Russia leading in number of companies working in Uzbekistan
Germany actively develops business relations with Uzbekistan

Energy

Eriell to increase hydrocarbon production in Uzbekistan
Russia may issue state loan to Uzbekistan for NPP construction
ERIELL completes repair works on 60 wells in Uzbekistan
Epsilon announces boost in gas flow at 2 fields in Uzbekistan
Belarus PM proposes regular meetings on nuclear safety at SCO meeting
ERIELL completes project to build 50 wells in Uzbekistan one year ahead schedule
Epsilon company increases gas flow at 2 Uzbek fields
Epsilon receives 500,000 cm of daily gas inflow from Khujum-2 field in Uzbekistan
ERIELL commissions 5 new wells in Uzbekistan
Epsilon announces increase in gas flow in Uzbekistan’s fields
ERIELL announces completion of well construction in Uzbekistan
One of world's TOP 3 nuclear engineering companies establishes JV in Uzbekistan
Uzbekistan receives gas carries to deliver LNG to population
Uzbekistan signs deal worth $100M with UAE company
Construction of 4 gas pipelines completed in Uzbekistan
Gas flow increases at Zhanubiy Tandircha field in Uzbekistan
Uzbekistan signs agreement with Schlumberger on exploration, development of fields
Uzbekistan doubles gas inflow at Zhanubiy Tandircha field’s well
Epsilon boosts gas flow in Uzbek field
Daily gas flow boosts in Zhanubiy Tandircha field in Uzbekistan
Projects in Uzbekistan boost LUKOIL's' hydrocarbon production
Uzbekistan increases gas production rate of another well at Zhanubiy Tandircha field
Uzbekistan receives flowrate of 1M cm of gas a day at Kuyi Surgil field
ERIELL company achieves twofold increase in daily gas production at two wells in Uzbekistan
Most difficult oil field in Uzbekistan turns out to be unprofitable
Gas production at Zhanubiy Tandircha field in Uzbekistan increases
Uzbekistan boosts gas inflow at one of its fields
Construction of gas pipelines in full swing in Uzbekistan
Norwegian Equinor may co-op with Uzbekistan in geological exploration
Uzbekistan jointly with US company begins construction of two gas pipelines

Agriculture

Malaysian company to promote export of Uzbekistan’s agricultural products
Uzbekistan expands range of agricultural products exported to China
Uzbekistan squeezed out of TOP-3 exporters of persimmon
Uzbekistan to start subsidizing livestock, fish, poultry farmers

Transport

First charter flight from Istanbul lands in Uzbekistan
GM Thailand exports first batch of Chevrolet Trailblazer to Uzbekistan
Uzbekistan to arrange transportation by Baku-Tbilisi-Kars rail in 2020
Uzbekistan, China to increase number of flights
Cargo transportation volume from Turkey to Uzbekistan up from January through September 2019
Uzbekistan Airways among TOP-3 most punctual airlines in Azerbaijan’s IATA rating
Flight tickets sales from abroad to Uzbekistan increase
Iranian Zagros Airlines to start flying to Uzbekistan
EBRD ready to assist Uzbekistan in developing transport sector
Uzbekistan airways to fly to Europe, US through Russia
ADB may modernize irrigation, road systems in Uzbekistan