"Asia Grains & Oils Conference in Tashkent", Tashkent, Uzbekistan
DATE
Sep 8, 2021

In 2020, Kazakhstan and Uzbekistan can increase the trade turnover to 5 bln USD

Source

APK-Inform

2896

The Presidents of Kazakhstan and Uzbekistan called the year of 2018 as the year of breakthrough in development of the commercial and economic cooperation between the countries. So, the reporting countries demonstrated the significant increase in trade turnover — from 3 bln USD in 2018 to the expected level of 5 bln USD in the current year, reported the President at the Association Fat-and-Oil Union of Kazakhstan, Konstantin Nevzorov.

According to him, the indicator can increase at the expense of development of open market relations between Kazakhstan and Uzbekistan, instead of mutual competition with restrictions on access to both raw materials and finished products.

In particular, due to its climatic conditions, Uzbekistan usually purchases oilseed crops from Kazakhstan at the market prices, as well as finished fat-and-oil products. Open, equal competitive conditions on the markets of raw materials and finished products will contribute to development of prosperity and modernization of the production industry in both countries, the expert added.

According to K.Nevzorov, Kazakhstan should not impose any bans on the exports of raw materials from the country for the greater economic effect, and in turn, Uzbekistan should not impose any duties on the supplies of finished products.

K.Nevzorov will provide the more detailed information about development of the fat-and-oil industry of Kazakhstan, as well as the prospects of further development of cooperation between Kazakhstan and Uzbekistan, within frames of "Asia Grains&Oils Conference in Tashkent 2020", to be held in the capital of Uzbekistan, Tashkent, on April 16-17.

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