On 14 September 2023, the Economic Forum of Central Asian Countries on the topic “Digital Economy, E-commerce and Innovations” was held in Dushanbe.
The forum was attended by a delegation of Turkmenistan headed by the Minister of Economy and Finance of Turkmenistan Serdar Jorayev. The Turkmen delegation included heads and representatives of a number of ministries and departments of Turkmenistan, the Ministry of Foreign Affairs of Turkmenistan says.
During the Economic Forum, the parties discussed the prospects for expanding cooperation between countries at the level of specific projects, in the field of technological partnership, and through the creation of joint ventures.
The main focus of the participants was to increase trade turnover between the states of the region and create favorable conditions for this, such as expanding logistics routes, modernizing existing corridors for the movement of goods, and developing new ones.
Representatives of the Turkmen delegation also attended in-session discussions on the exchange of experience and prospects for cooperation between the countries of the region in the field of digital economy, the introduction of an e-government system, and cooperation between Central Asian countries in the field of innovation.
Within the framework of the Economic Forum, a presentation of the “smart” city of Arkadag was held.
Central Asia’s GDP is growing faster than the global economy
Over the past 20 years, the gross domestic product of Central Asia has increased 7 times, and its average annual economic growth has reached 6.2%, which is 3.6 percentage points higher than the growth of the world economy, which is 2.6%.
This statement came from the Minister of Economic Development of Tajikistan Zavki Zavkizoda at the Economic Forum of the Central Asian States, Khovar agency reports.
According to him, over the past two decades, Central Asia’s share of global GDP has increased 1.8 times, foreign trade turnover – 6 times, foreign direct investment in the region – 17 times, and foreign trade turnover of Central Asian goods and products has increased 6 times.
“The high indicators of the development of the economy of Central Asia indicate that our states will be able to achieve even greater results in economic development. In 2022, the foreign trade turnover of the Republic of Tajikistan with the countries of Central Asia grew by 23% compared to 2021, and the share of Central Asian countries in the total trade turnover of the Republic of Tajikistan amounted to 28.2%. The main trading partners of Tajikistan are Kazakhstan, Uzbekistan and Turkmenistan,” Zavkizoda said.
The forum participants agreed on an action plan to increase the share of the digital economy in the implementation of joint projects.
Kazakhstan to increase exports of 300 types of goods to Central Asia, worth billions of dollars
Central Asian countries have great economic potential. It is necessary to continue work on expanding the range of goods and improving the quality of mutual trade. Kazakhstan can increase the supply of finished and processed products to the region worth billions of dollars for 300 types of goods in various industries, Minister of National Economy of Kazakhstan Alibek Kuantyrov said, speaking at a panel session of the forum.
“The geopolitical upheavals and the pandemic have changed the conditions for the development of the world economy, triggering the processes of irreversible structural changes, and demonstrated the relevance of the digitalization of the economy and the growth of e-commerce. Supply chains are disrupted. In addition, the Central Asian countries do not have access to the sea. Therefore, it is important to form an effective network of regional supply chains. Taking into account the geographical location, we should join efforts to diversify the economies and expand mutual trade, economic and investment ties,” the Minister stressed.
According to him, despite the difficulties, there is a positive growth trend in the region.
In 2022, the trade turnover of Kazakhstan with the Central Asian countries amounted to $8 billion, which is 25% more than in 2021. At the same time, exports were estimated at $5.7 billion and imports at $ 2.3 billion.
The minister gave a detailed overview of Kazakhstan’s investment climate and highlighted the benefits provided to investors under Kazakh investment contracts.
In addition, Kazakhstan is ready to share its experience in the IT industry with the Central Asian countries.
“Central Asia is a region with vast untapped potential. Thanks to the efforts of our governments, led by our heads of state, we have maintained socioeconomic stability and created a strong foundation for the qualitative development of the economies of the countries of the region,” concluded Kuantyrov.
///nCa, 14 September 2023 [Photo credit – Ministry of national economy of Kazakhstan]
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