UzQazTrade company was set up by Kazakhstan and Uzbekistan

According to the Kazakh Trade Ministry, The UzQazTrade foreign trade company was founded by QazTrade trade policy development centre and UzTrade JSC to boost mutual trade turnover between the countries. QazTrade director general Nuraly Bukeikhanov said that Kazakhstani companies will increase the amount of goods delivered to both markets due to the development of a joint company. Generation of proposals on lifting restrictions and barriers in mutual trade will be also contributed to. Purchase of fruit and vegetable products from Uzbekistan to meet the domestic need is the first thing planned. The selling of Kazakhstani flour goods in the territory of Uzbekistan with an opportunity for further exports to Afghanistan is expected to get the company’s help. Granting preferences on supply chain costs are agreed on by Kazakhstan and Uzbekistan. Also, the efficiency of state measures to reduce Kazakhstan’s dependence on imports from the third countries will be contributed to by the project. A 29.8% growth was reached by the sales between the two nations in 2022 ($5 billion dollars). In 2021 this amount equaled to $3.8 billion dollars. The rise of ore, wheat, sunflower oil and meat exports made Kazakhstan’s total exports grow up by 33% ($3.7 billion dollars). A 21.4% increase was shown by Kazakhstan’s import in 2022 ($1.3 billion dollars). Spark-ignited engines, grapes and bricks are the main items imported by Kazakhstan.

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