Uzbekistan and Kazakhstan Strengthen Banking and Investment Cooperation
Uzbekistan and Kazakhstan focused on enhancing cooperation in banking and investment during a recent meeting. Officials discussed expanding investment ties, supporting entrepreneurs, and introducing new financial tools, with Kazakhstan emerging as a significant economic partner for Uzbekistan. The recent trade figures highlight the increasing economic collaboration between the two nations.
On February 28, 2023, officials from Uzbekistan and Kazakhstan convened to enhance collaboration in banking and investment sectors. The dialogue occurred between Uzbekistan’s Deputy Prime Minister and Minister of Economy and Finance, Jamshid Kuchkarov, and Halyk Bank’s Chairman, Umut Shayakhmetova. The meeting aimed to explore avenues for financial cooperation and bolster investment relations between the two nations.
Key discussion points included promoting entrepreneurship through innovative financial mechanisms, such as digital loans and online onboarding for businesses. Halyk Bank conveyed its investment strategies for 2024 and potential growth within Tenge Bank, while Uzbek officials underscored the critical role of banking cooperation in driving economic progress.
Both countries exhibited a mutual interest in advancing bilateral partnerships and initiating joint projects that would foster economic development in Uzbekistan and Kazakhstan. Kazakhstan has established itself as a significant economic partner for Uzbekistan, ranking third among foreign trade partners as of January 2025. The total trade volume reached $313.5 million, marking a notable increase compared to the previous year.
The discussions between Uzbekistan and Kazakhstan signify a commitment to strengthening financial partnerships and boosting economic growth through enhanced cooperation in the banking sector. Both nations recognize the critical role of investment and entrepreneurship in their respective economic strategies, consolidating their positions as vital trade partners in the region.
Original Source: en.trend.az
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