Tashkent, Uzbekistan (UzDaily.com) – Ahead of the state visit of the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, to Kazakhstan, Uzbek and Kazakh experts gathered in Astana.

The expert meeting was organized in advance of the 6th Consultative Meeting of the Heads of State of Central Asia.

Speaking at the expert council, Obid Khakimov, Director of the Center for Economic Research and Reforms (CERR), emphasized the need to deepen cooperative ties between Uzbekistan and Kazakhstan. He highlighted the importance of combining efforts in industry, construction, and transport, as well as reallocating foreign investments from extractive to processing industries for integration into global value chains.

On 2 August 2024, the first meeting of the Uzbekistan-Kazakhstan Expert Council was held in Astana, where Obid Khakimov presented key achievements and prospects for economic, investment, and cooperative cooperation between Uzbekistan and Kazakhstan.

In his address, Khakimov noted that recent years have seen significant expansion in trade and economic relations between the two countries. Kazakhstan ranks third among Uzbekistan’s external economic partners, accounting for 7% of its trade turnover, and first in Central Asia with a 62% share. The expert pointed out that "mutual trade is conducted without import duties in accordance with the Free Trade Agreement," creating favorable conditions for further growth.

According to CERR data, trade turnover between Uzbekistan and Kazakhstan has increased 2.4 times over the past seven years, reaching US$4.5 billion in 2023. Nearly half of Uzbekistan’s exports to Kazakhstan consisted of machinery and transport equipment, indicating a high level of product complementarity.

In the field of investment, there is steady growth. In 2023, direct foreign investments from Kazakhstan into Uzbekistan amounted to US$202 million, and in the first half of 2024, this figure reached US$222 million. "The number of enterprises with Kazakh capital in Uzbekistan has increased 3.7 times, confirming the growing interest in joint projects," Khakimov noted.

Cooperative collaboration was also identified as an important direction. Khakimov emphasized that both countries aim to double their GDP by 2030, which will require joint efforts in areas such as industry, construction, and transport.

He stressed that "expanding cooperative interaction will contribute to the reallocation of foreign investments from extractive to processing industries, which, in turn, will integrate our economies into global value chains."

In conclusion, the CERR Director underlined that "the unification of efforts between Uzbekistan and Kazakhstan will become a driving force for the economic development of the entire Central Asian region."