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Kazakhstan, Uzbekistan to boost trade ties

25 Oct 2017 10:24 AM | Deleted user

Kazakhstan and Uzbekistan are set to increase economic and trade relations.

Kazakhstan-Uzbekistan trade turnover amounted to $554 million while the rate of taxes payments by Uzbek entrepreneurs in Kazakhstan increased by 2 billion tenge in January-September 2017 compared to the same period of the last year.

This was stated by the head of the State Revenues Department for regulation of tariffs in the South Kazakhstan region Askar Isakhov, Kazinform reported.

Issues of trade facilitation and coordination of border management within the Shymkent-Tashkent corridor were discussed at a meeting with representatives of customs authorities and the private sector.

"An increase in trade between the two countries is impossible without a reduction in administrative barriers. Kazakhstan and Uzbekistan have already joined a number of international conventions, including the Convention on Harmonization of Conditions for Conducting Cargo Control at Borders," Isakhov said.

The document, by the way, is aimed at removing barriers in foreign trade, simplifying the movement of goods by reducing the requirements for the implementation of formalities, the number and duration of control measures.

In addition, customs officials of the two countries came to a common opinion on accelerating the crossing of the border by participants of foreign economic activity.

Thus, currently, five customs checkpoints, each with its own functions, operate on the border with Uzbekistan. Kaplanbek and Konysbaev checkpoints, for example, are engaged in the admission of trucks. They are expected to optimize customs clearance.

The development of comprehensive proposals for trade facilitation will be addressed by the “Regional Program of the German Society for International Cooperation GIZ.”

Earlier, Kazakhstan’s Ambassador to Tashkent Yerik Utembayev proposed to strengthen economic and business ties through creating joint economic zones. Previously, Uzbekistan and Kazakhstan signed contracts totaling $1.2 billion following two business forums held in Astana in March and in Tashkent on September 16.

The trade turnover between the two states increased by 35 percent in January-August of the current year. Over 200 companies with Kazakh capital currently operate in Uzbekistan. The volume of trade turnover between the countries amounted to $2 billion in 2016.