On September 16, Uzbekistan and Kazakhstan business forum was held in Tashkent within the framework of the state visit of the President of the Republic of Kazakhstan Nursultan Nazarbayev to our country.

The event was attended by the heads of ministries and departments, companies of the two countries responsible for such spheres as foreign economic relations, trade, investment, banking and finance, fuel and energy, air transportation, automotive industry, agriculture and water resources, construction, mining and metallurgy, food, chemical, light, textile industries, production of electronic products, transport and transport communications, logistics, insurance, export-import, communications, information technology and telecommunications, healthcare, pharmaceuticals, tourism, science, education, and others. 

Consistent development of multifaceted cooperation between our countries was noted, therefore this business forum is of great importance in raising the level of interrelations in trade, economic, investment and social spheres to a new level. 

Natural gas, means of transportation, mineral fertilizers, textile, electric power, fruit and vegetable products, construction materials and other types of goods are supplied to the neighboring country from Uzbekistan. Oil and oil products, metal, flour, butter are imported from Kazakhstan to our country. There are about 230 enterprises with participation of Kazakhstan capital in Uzbekistan, in Kazakhstan – over 130 enterprises, organized jointly with partners from our country. The achievement in the current year of an agreement between “AllurGroup” Kazakhstan national company on production of vehicles and “GM Uzbekistan” on establishing production of cars under “Ravon” brand in Kustanai indicates that the expansion of activities of joint ventures is given priority. 

The trade turnover is steadily growing as a result of decisive measures taken by the heads of the two states on bringing the trade and economic relations between our countries to a new level. 

The forum was attended by representatives of more than 400 companies of Kazakhstan, operating in such sectors as agriculture, trade, oil and gas, pharmaceuticals, mechanical engineering, chemical, construction, food, military, light industry and others. 

Interest of Kazakhstan in cooperation, as well as of many other states, is increasing due to huge economic potential of our country, modern transport communications and a favorable investment climate. 

At the forum, businessmen of Kazakhstan were provided information on socio-economic reforms implemented in our country, investment prospects, factors of development of small business and private entrepreneurship. Implementation of joint projects in various spheres, carried out by Uzbekistan and Kazakhstan entrepreneurs, was noted. 

According to experts, there is an opportunity of increasing the trade turnover between the two countries not less than two times. An effective factor in accelerating this process is implementation of joint measures on strengthening relations between businessmen and other concerned agencies of the two countries. 

Participants of the business forum discussed the prospects for establishing cooperation in various spheres, issues of implementation of new investment projects, in particular, their key parameters and sources of financing were considered.