Kyrgyzstan President Sadyr Japarov on February 28 participated in a ceremony to launch the construction of an automobile assembly plant in the country’s northern Chui region. The plant will assemble electric vehicles, commercial and passenger cars, and special equipment. It is a joint project of the Kyrgyz government, local enterprises, and the Chinese company China
During a working visit to Geneva, Deputy Prime Minister–Minister of Foreign Affairs of Kazakhstan, Murat Nurtleu on February 28 met with the leadership of the Swiss companies INOKS Capital, Stadler Rail, Воѕсhung and MSC. The parties discussed current and new investment projects in Kazakhstan in the priority areas of the national economy – agriculture, mechanical
Afghanistan’s acting Foreign Minister during his visit to Turkmenistan said that Afghanistan can now use the Lapis Lazuli Corridor, which would connect Afghan trade to Europe, Afghan broadcaster TOLOnews reported. Amir Khan Muttaqi discussed a number of trade and diplomatic issues with Turkmenistan officials, including the TAPI gas pipeline project and the railway from Turkmenistan
European Bank for Reconstruction and Development (EBRD) Vice President of Policy and Partnerships Mark Bowman will visit the Kyrgyz Republic from 27 February to 1 March for meetings with senior government officials, the diplomatic community and Bank clients, the EBRD said. During his three-day programme, Mr Bowman will meet with Chairman of the Cabinet of Ministers Akylbek Japarov, Minister
On February 20 in Ashgabat, Deputy Minister of Foreign Affairs of Turkmenistan Myahri Byashimova met with Leandro Slowinski, the editorial director of The Investor magazine, published by the French consulting company Beyond Investments Group. Mr. Slowinski expressed the interest of the magazine’s editors in researching the trade and economic potential of Turkmenistan for a broader
The Eurasian Development Bank (EDB) has released the latest Macroeconomic Review for its six member states — Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. In the face of a challenging external economic environment, the Review says, the EDB region saw a strong recovery in 2023, with the aggregate GDP of the Bank’s member states increasing
On February 19, the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) launched the Central Asian Women’s Entrepreneurship Programme titled “Strengthening the Digital Skills of Women Entrepreneurs”. The programme will serve as an online platform for exchange, learning, and dialogue for 21 women-led businesses from Central Asia. Through a series of workshops,
The Government of Turkmenistan and the United Nations Development Programme (UNDP) on February 18 signed several strategic agreements aimed at strengthening a long-term partnership in achieving national development priorities. UNDP and the Government of Turkmenistan signed the following new initiatives to support the country in accelerating the achievement of the 2030 Agenda for Sustainable Development: “Assistance
The European Bank for Reconstruction and Development (EBRD) and Shinhan Bank Kazakhstan (SBK) are helping to increase the capacity and attractiveness of Kazakhstan’s major conference hub, the Atakent Business Cooperation Centre in Almaty, by financing its expansion, the EBRD said on February 19. The EBRD will share half of the risk of a KZT 3 billion (US$ 6.6 million) loan
Being close neighbors with centuries-long ties and common roots, Kazakhstan and Kyrgyzstan continue to deepen their relationship, setting a good example for regional cooperation. Both countries are close trade and economic partners as part of the Eurasian Economic Union, which also includes Armenia, Belarus, and Russia. From January-November 2023, bilateral trade grew by 12% and reached
The International Finance Corporation (IFC), a member of the World Bank Group, has announced a subscription of up to $10 million in a landmark local currency green bond issued by Tajikistan’s Eskhata Bank. The first in the country, the bond aims to boost access to climate finance for smaller businesses amid a challenging macro-economic environment.
The World Bank Board of Executive Directors on February 15 endorsed an adjusted approach to support the people of Afghanistan. “Approach 3.0” will deploy funds from the International Development Association (IDA) through grants to United Nations agencies and other public international organizations. These funds will continue supporting basic services nationwide, particularly those benefiting women, and
The European Bank for Reconstruction and Development (EBRD) on February 14 said it has invested $41.99 million into shares of Kazakhstan’s flagship carrier, Air Astana, supporting the country’s first partial privatisation through an initial public offering (IPO). The EBRD’s investment represents a 5 per cent shareholding in Air Astana. The shares will be listed on both the London
During his official visit to Qatar on February 14, Kazakhstan President Kassym-Jomart Tokayev held talks with Amir of Qatar Sheikh Tamim bin Hamad Al-Thani and participated in the Kazakhstan–Qatar Investment Roundtable in Doha. During his talks with the Amir of Qatar, Tokayev expressed his firm belief that in the near future Qatar will become one
On February 12, President of Kazakhstan Kassym-Jomart Tokayev met with Nikolai Podguzov, the chairman of the Eurasian Development Bank’s (EDB) Management Board. Podguzov informed President Tokayev about the Bank’s plans and said that the EDB’s annual investment in Kazakhstan’s economy has exceeded $1 billion for the second consecutive year, the EDB’s press service reported. The EDB
Kyrgyzstan and Turkey have signed a contract for the export of 400 tons of walnuts from the Kyrgyz Republic. The first batch of walnuts will be exported to Turkey on February 15, the Kyrgyz Ministry of Economy and Commerce said. The contract comes as a result of the Kyrgyz-Turkish business forum held in the Turkish
On February 9, the new Prime Minister of Kazakhstan, Olzhas Bektenov, held a Government meeting on the implementation of instructions of the Head of State Kassym-Jomart Tokayev announced at an expanded Government session on February 7. Bektenov emphasized that state budget expenditures must be clearly prioritized with an emphasis on obtaining full economic returns, and
The recent developments in Kazakhstan, with the appointment of Prime Minister Olzhas Bektenov and the subsequent meeting chaired by President Kassym-Jomart Tokayev, signal a proactive stance towards addressing economic challenges. President Tokayev’s emphasis on achieving a GDP growth target of 6% annually and increasing the economy to $450 billion by 2029 demonstrates a commitment to
Ambassador of Kazakhstan Viktor Temirbayev on February 6 visited the largest city of Northeastern Bulgaria and the “maritime capital” of the country – Varna. During the meeting with the Mayor of Varna, Blagomir Kotsev, the parties noted the important role of interregional cooperation in the progressive development of trade, economic, cultural and humanitarian ties, and also
One day after appointing a new prime minister, Kazakhstan President Kassym-Jomart Tokayev on February 7 chaired an extended meeting of the Government. The meeting was attended by the new Prime Minister Olzhas Bektenov, Government ministers, the chairman of the National Bank, governors of the regions, and mayors of the country’s three largest cities of Astana,
