News
Kazakhstan and Uzbekistan to Launch Central Asia Industrial Center at Border
Kazakhstan
is set to establish the Central Asia International Industrial Cooperation
Center on its border with Uzbekistan.
The agreement for this initiative was ratified by the Majilis, the country's Parliament, The Caspian Post reports citing foreign media.
According
to the documents, the center will be located in the area of Gulistan and
Atameken checkpoints, it is planned to build various facilities, including
warehouses, terminals and processing plants on its territory. Chinese investors
have expressed interest in participating in the project.
The launch of the center will expectedly help increase the trade turnover between the countries to $10 billion. According to preliminary statistics, it decreased to $4.3 billion as of the end of 2024.
As part of the agreement, two management companies will be established that will be responsible for organizing the work of the center on the territory of each of the states. It is expected that Central Asia center will be opened in 2027. It will operate in the format of a free economic zone.