Kazakhstan and Uzbekistan established a foreign trade company UzKazTrade LLC with the aim to increase mutual trade turnover, QazMonitor reports.
The enterprise was formed by the founders of trade companies QazTrade and UzTrade.
A press statement wrote that the activities of UzKazTrade will include market research on products developed in both countries, certification of businesses exporting goods, and optimizing mutual trade among other things.
General director of QazTrade Nuraly Bukeikhanov said the creation of a joint company will allow Kazakh enterprises to increase the volume of supply of goods to the markets of the two countries and help remove restrictions and barriers to mutual trade.
"At the initial stage, we have plans to purchase fruit and vegetable products from Uzbekistan to meet the needs of our domestic market,” Bukeikhanov said.
“Additionally, we will help sell Kazakh flour products in Uzbekistan with the possibility of further export to Afghanistan. We have agreed with the Uzbek side to provide preferences for logistics costs."
The project will also contribute to reducing the dependence of the Kazakh market on imports from third countries.
Kazakhstan mainly imports car bodies, internal combustion engines with spark ignition, grapes, flat-rolled unalloyed steel clad, lead ores and concentrates, building bricks, floor blocks and similar ceramic products, parts, and accessories for cars and tractors, and ethylene polymers.