New Industrial Cooperation Center to Boost Trade in Kazakhstan-Uzbekistan Region by 2027
Kazakhstan and Uzbekistan Strengthen Economic Ties with New Industrial Cooperation Center
In a move to enhance economic cooperation, Kazakhstan and Uzbekistan have ratified an agreement to establish the Central Asia International Industrial Cooperation Center on their shared border. This new center, located on the border of the two countries, will be known as the Turan industrial zone, as announced by Kazakh Minister of Trade and Integration Arman Shakkaliyev.
The main objective of the center is to attract investors to manage the agro-industrial and logistics infrastructure within the industrial zone. A joint venture between the main investor and a cooperative from the Turkistan Region will oversee the organizational and administrative tasks of the center, which will have a quasi-state status with specific legal obligations and rights.
Covering 100 hectares, with 50 hectares allocated to each country, the center will include production sites, warehouses, and transport infrastructure to enhance logistics, reduce costs, and promote production cooperation within the North-South corridor. The center’s construction is expected to be completed by 2026, with an official opening planned for 2027. It will support various industries such as textiles, agriculture, and manufacturing, creating new jobs and industries in the region.
Additionally, the Global Textile company’s project for the production of finished textile products will be implemented within the industrial zone. Kazakhstan and Uzbekistan aim to increase their trade turnover to $10 billion by implementing a detailed plan that includes 34 joint projects worth $4.5 billion and seven trade contracts totaling approximately $300 million. This plan, already signed by the deputy prime ministers of both countries, outlines specific actions across various industries to achieve the set trade goal.
The establishment of the Central Asia International Industrial Cooperation Center signifies a significant step towards closer economic ties between Kazakhstan and Uzbekistan, paving the way for mutual growth and development in the region.
