Central Asia aims for $20 billion in mutual trade

Central Asian countries plan to increase mutual trade volume to $20 billion and initiate the production of goods under the "Made in Central Asia" brand. This was announced by the Ministry of Industry and Trade.

This issue was discussed at the first meeting of the Council of Ministers of Trade of Central Asian countries and Azerbaijan, held in Tashkent. The primary aim of the event was to strengthen trade relations and develop regional cooperation in various sectors of the economy.

During the meeting, the growth of trade volumes between Uzbekistan and other Central Asian countries was particularly highlighted. While this figure was $3.2 billion in 2017, it reached $6.9 billion by 2024.

Specifically, trade turnover with Kazakhstan has approached $4 billion, with Kyrgyzstan it has reached $700 million, and with Tajikistan it has exceeded $570 million. Meanwhile, trade volume with Turkmenistan has doubled over the past five years, reaching $1.15 billion.

Additionally, trade turnover with Azerbaijan has increased by 13 percent since the beginning of this year. At the conclusion of the meeting, participants signed a joint communique that included agreements to strengthen economic cooperation and foster further integration.

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