The Astana Times

🌐 13th Central Asia Trade Forum: A Catalyst for Regional Prosperity On May 14, the 13th Central Asia Trade Forum kicked off in Almaty with a powerful call to enhance trade across Central Asia (USAID's Trade Central Asia Activity). The event brought together distinguished leaders, including Zeinah Salahi from USAID, Kazakh Vice Minister Kairat Torebayev, Uzbek advisor Abdulla Khashimov, Kyrgyz Deputy Minister Yrysbek Bariev, and Turkmen official Myrat Myradov. Key Highlights from the plenary session: 🔹 Untapped Trade Potential: The forum spotlighted the immense opportunities for intra-regional trade. USAID's Zeinah Salahi emphasized significant strides in trade volumes and customs digitization, highlighting a remarkable 18% reduction in clearance times at the Yallama-Konysbayeva border crossing. 🔹 Digital Transformation: Digitalization was a central theme, with discussions on harmonizing trade norms and streamlining processes. Vice Minister Torebayev showcased Kazakhstan's leadership in paperless trade facilitation, surpassing global averages in key parameters. 🔹 Infrastructure and Connectivity: Ministers underscored the importance of robust transport and logistics infrastructure. Kyrgyz Deputy Minister Bariev highlighted the need for mutual recognition of digital documents, while Uzbekistan's Abdulla Khashimov noted a significant increase in regional trade volumes, driven by proactive initiatives and improved transport infrastructure. 🔹 Regional Cooperation: The forum stressed the importance of cooperation for joint market expansion. Khashimov mentioned that the combined trade volume of Central Asian countries with neighboring regions reached $7.1 billion, emphasizing the potential for further growth in high-demand markets like India and Pakistan.

The Astana Times did a special coverage from the B5+1 forum last week in Almaty with the support of CIPE Europe & Eurasia We also had the privilege to talk with Dr. Frederick Starr, a leading American expert and the founding chairman of the Central Asia Caucasus Institute and Silk Road Studies Program on relations within and beyond #CentralAsia, the region's growing strategic importance, and his vision for the future of cooperation within the region. #B5plus1 #IBECA #CentralAsia Assel Satubaldina Assem Assaniyaz Aida H. Jenny Jenish kyzy https://lnkd.in/dneTT5m6

We are proud that our senior news editor Aida H. took part in the Annual Meetings of International Monetary Fund and The World Bank in Marrakech in October. According to the IMF's Regional Economic Outlook, #Kazakhstan’s growth is poised to make a strong comeback this year, thanks to robust domestic demand and increased oil production, driven by the alleviation of operational constraints affecting the Caspian Pipeline Consortium and the Tengiz oil field expansion. Kazakhstan is also expected to witness a notable decline in inflation in the coming years. While the projected inflation rate for 2023 stands at 15%, the current year-on-year inflation is reported at 11.8%. Looking ahead, the IMF forecasts a substantial reduction in inflation to 9% by 2024. Read more about the economic outlook and policy recommendations for Kazakhstan and #CentralAsia in an exclusive interview with Jihad Azour, the director of the Middle East and Central Asia Department at the IMF. https://bit.ly/49jKkQc

#Kazakhstan’s national carrier Air Astana has resumed seasonal routes and increased flights to popular international destinations from #Almaty and #Astana from Oct. 29. https://bit.ly/4610nPH

#French President Emmanuel Macron arrived in Astana on an official visit on Nov. 1. France is #Kazakhstan’s key and trusted partner in #EuropeanUnion and one of the major investors in the Kazakh economy. France has invested approximately $18.7 billion in Kazakhstan’s economy. Both countries undertake joint projects in energy, construction, aerospace, pharmaceutical, mining, chemical, and mechanical engineering. https://bit.ly/49f9G1w

We did a series of videos about the main points of President's address this year. One of the recent videos tells about the future of the creative economy in #Kazakhstan https://bit.ly/463jA3C

. University of Oxford scholars use Kazakh and Malay proverbs in pedagogical approach for storytelling about sustainability. Olga Mun, a doctoral researcher at Oxford University from #Kazakhstan, and Aizuddin Mohamed Anuar, a writer and lecturer at Keele University from #Malaysia, developed an arts-based project based on the analysis of traditional proverbs on environmental responsibility, economic efficiency and social solidarity. Written by Assem Assaniyaz https://shorturl.at/lwI79

. IFC - International Finance Corporation investments in #CentralAsia surpassed $1.6 billion over the past fiscal year, the highest ever for the region. IFC’s largest portfolio is in #Uzbekistan, with $1.6 billion of investments, including $49 million for the Zarafshon wind power project in the Navoi region and close to $1 billion for a modern thermal power plant in the Syrdarya region. For more details, read an exclusive interview with Hela Cheikhrouhou for The AT Written by Assel Satubaldina https://shorturl.at/BKSTU

. Eni’s Plenitude unveiled a 50-megawatt solar power plant operated by Arm Wind company, its local renewable subsidiary, in the Turkistan Region, #Kazakhstan on Sept. 27. This is the company’s first solar project and the third renewable project in the country. Read an exclusive interview of Alex Stillavato Managing Director of Arm Wind  about the project Written by Zhanna Shayakhmetova https://shorturl.at/bekOZ

#Kazakh economy is set to grow 5% in 2023-2024, despite some uncertainty arising from oil prices, according to EBRD latest Regional Economic Prospects (REP). The country has seen significant expansion in sectors such as retail and wholesale trade and construction. There has also been a pick-up in public and private investment in infrastructure, transport and warehousing, reflecting #Almaty’s growing role as a distribution hub serving #CentralAsian markets. https://shorturl.at/abqvI