Kazakhstan, Uzbekistan plan to establish Joint Investment Fund

Uzbekistan's presidential press service has announced that Kazakhstan and Uzbekistan plan to establish a Joint Investment Fund.

The statement was made following Uzbek President Shavkat Mirziyoyev’s meeting with Kazakhstan's President Kassym-Jomart Tokayev in Astana, Caliber.Az reports citing the local media.

The agreement includes accelerating the construction of the International Centre for Industrial Cooperation in the Syrdarya region, which will host various enterprises. To support large-scale projects financially, the creation of a Joint Investment Fund will be explored. The discussion also covered improving conditions for transit cargo transportation, building joint logistics complexes, and developing road and rail routes between the two countries.

Special attention was given to increasing trade volumes, primarily through mutual market development and replacing imports from third countries. In this context, the governments are tasked with implementing a separate programme by the end of the month to reach a trade turnover of $10 billion. Additionally, a portfolio of new agreements and contracts worth $7 billion has been prepared for the summit, covering projects in energy, transportation and logistics, metallurgy, textiles, agriculture, construction, and regional cooperation.