Kazakhstan-Uzbekistan trade rises 29% as countries target $10 billion
Kazakhstan and Uzbekistan plan to increase bilateral trade turnover to 10 billion US dollars in the near future, Kazakh Finance Minister Madi Takiyev said on Wednesday, Qazinform News Agency correspondent reports.
Trade turnover between the two countries reached 4.7 billion US dollars last year. In the first nine months of this year, it amounted to 3.7 billion US dollars, marking a 29 percent increase, Takiyev said at a briefing following a meeting of the Qurultay.
The minister said last year, Kazakh-Uzbek trade turnover reached 4.7 billion US dollars, and in the first nine months of this year, it amounted to 3.7 billion US dollars, up 29 percent, adding that the countries aim to increase it to 10 billion US dollars in the near future.
He also noted that an agreement had been signed to open representative offices of the customs services of both countries to help achieve this target.
These offices will provide practical and theoretical assistance to domestic and foreign entrepreneurs to help increase trade turnover. For example, they will help prevent goods from being held up at the border, while other issues will be addressed jointly with our Uzbek colleagues, said Takiyev.
Earlier, Qazinform reported Kazakhstan and Uzbekistan would establish new customs cooperation mechanisms at border.