Astana and Tashkent prepare $8 bln project portfolio

Uzbekistan and Kazakhstan had set ambitious plans to increase trade turnover  from $4 billion to $10 billion by expanding mutual supplies and substituting imports, the press service of the Uzbek president reported.

The plans were highlighted during the meeting between President of Uzbekistan Shavkat Mirziyoyev and President of Kazakhstan Kassym-Jomart Tokayev.

"To further enhance industrial collaboration, a project portfolio valued at over $8 billion has been developed. Additionally, the parties have proposed the establishment of a Joint Investment Platform to facilitate such initiatives," the statement reads.

Cargo transportation volumes between the two nations continue to rise, complemented by over 40 weekly flights connecting key cities. A total of 6,500 joint ventures have been established, with major projects underway across prioritized sectors.

President Tokayev is currently on a state visit to Uzbekistan and is taking part in the 7th Consultative Meeting of Central Asian Leaders.