Tashkent, Uzbekistan (UzDaily.com) – Uzbekistan and Kazakhstan should focus on pooling common potentials for new economic opportunities. This opinion was shared by Eldor Aripov, Director of the Institute for Strategic and Interregional Studies under the President of the Republic of Uzbekistan (ISMI), during the first meeting of the Uzbekistan-Kazakhstan Expert Council held on 2 August in Astana.

The event, organized by ISMI in collaboration with the Kazakhstan Institute for Strategic Studies under the President of the Republic of Kazakhstan, was attended by leadership and representatives of ministries and agencies, as well as expert and analytical circles from both countries.

According to Eldor Aripov, "This meeting holds special symbolism as it takes place ahead of the state visit of the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, to Kazakhstan, as well as the upcoming sixth meeting of Central Asian heads of state."

The expert noted, "Currently, thanks to the will of both leaders, there is a high level of political trust between Uzbekistan and Kazakhstan, which serves as a guarantee for the consistent strengthening of bilateral relations, independent of any political conditions."

In Aripov’s words, trade and economic cooperation occupy a crucial place in bilateral relations. "Kazakhstan has consistently ranked among our top three partners. Over the past seven years, trade turnover between our countries has more than doubled, reaching US$4.4 billion by the end of 2023," emphasized Eldor Aripov.

Investment cooperation has also shown significant growth. Since 2017, investments from Kazakhstan to Uzbekistan have increased 23-fold, from US$10 million to US$230 million in 2023. Simultaneously, the number of enterprises with Kazakh capital in Uzbekistan has grown nearly fivefold compared to 2016, exceeding one thousand enterprises.

The ISMI Director believes that to further enhance the positive dynamics of bilateral cooperation, "It is essential to focus not just on maintaining and multiplying our own competitive advantages but on pooling our common potentials to tap into new economic opportunities." According to the expert, "Such a ‘win-win’ strategy in our interconnected region will be the most beneficial."

To achieve this, Eldor Aripov called for a focus on the following areas:

First, the expert highlighted the importance of strengthening political trust based on the principles enshrined in the treaty on allied relations.

In this regard, Aripov believes that continuing and further increasing regular political dialogue at all levels will play an essential role.

"Close interaction and mutual support within multilateral platforms, along with joint promotion of initiatives, are in high demand. Mutual consultations and coordinated timing before major international events involving both countries are also crucial. In this context, the Expert Council can make a significant contribution," the expert emphasized.

Secondly, according to Eldor Aripov, it is important to implement ideas for forming a common space for industrial and technological development based on the complementarity of the two countries’ economies.

The expert believes that this should not only involve combining competitive advantages, creating new jobs, and building technological potential but also replacing expensive imports and jointly accessing third-country markets.

"We have all the necessary conditions for this, with numerous promising projects in livestock, cotton cultivation and processing, greenhouse construction, automobile manufacturing, and home appliance production. All of this can make a significant contribution to our shared economic development," said the ISMI Director.

Moreover, the expert emphasized the importance of actively involving small and medium-sized businesses in the implementation of joint projects and establishing public-private partnerships.

Thirdly, according to the ISMI Director, creating a "barrier-free" environment for the movement of goods, services, labor, and capital is highly relevant.

"The benefits of this are clear. Consumer prices will decrease, supply chains will develop over short distances, and we will be protected from turbulence in global markets. We have proposals for aligning the master plans for the development of regions located in the border areas of both countries. I am convinced that if we look at how our capabilities can complement each other, new points of economic growth will emerge," Eldor Aripov concluded.