Uzbekistan, Kazakhstan, Azerbaijan establish "Turkic Auto Industry" conglomerate of automakers

Uzbekistan, Kazakhstan, and Azerbaijan have established a conglomerate of automakers called the Turkic Auto Industry, which will unite markets with more than 65 million people.

The matter rests on establishing cooperation of with the Azermash plant in Azerbaijan and Saryarka AvtoProm in Kazakhstan. UzAuto Motors has been assembling Chevrolet cars from car kits which are supplied by Uzbekistan for several years, a Podrobno.uz correspondent reports, citing a governmental source.

The conglomerate will likely talk about closer cooperation in the assembly of new Chevrolet models in Azerbaijan and Kazakhstan through UzAuto Motors, as well as expanding existing capacities and increasing the supply of components from Uzbekistan to these countries.

This is indirectly confirmed by several agreements that were signed in Tashkent on December 28 as part of the Uzbek-Kazakh business forum. Thus, for example, the sides entered into an agreement on financing the project "Production of Chevrolet cars in Kazakhstan via the small-scale assembly method". Its total cost is $50 million. The project partner is the Development Bank of Kazakhstan.

Another agreement includes the supply of vehicle kits and Chevrolet components worth $500 million by Uzavtosanoat company to Saryarka AvtoProm enterprise.

Finally, the third document, signed by Uzavtosanoatom and Kazakhstan's Allure Group of Companies, is aimed at establishing a distribution centre and a marketplace in Uzbekistan for the sale of spare parts for cars.