Kazakhstan and Uzbekistan strengthen cooperation in the field of export investments
Heads of subsidiaries of the Baiterek Holding — Chairman of the Management Board of the Export Credit Agency of Kazakhstan (ECA) Allen Chaizhunusov and Chairman of the Management Board of the Development Bank of Kazakhstan (DBK) Marat Yelibayev — paid a working visit to Tashkent, Kazinform reports.
The visit was aimed at implementing the instructions of the Head of State to strengthen economic integration in the Central Asian region, as well as scaling up support for Kazakhstan’s non-resource exports through the development of financial cooperation and trade finance instruments within the framework of the ECA Development Plan.
During the visit, trilateral negotiations were held with the management of leading financial institutions of the Republic of Uzbekistan, including JSCB Uzpromstroybank, JSCB Tenge Bank, JSCB Kapitalbank, and JSCB Orient Finans Bank. The parties discussed current cooperation and identified key areas for expanding collaboration, including the development of trade finance, interbank, and structured financing instruments of DBK with ECA insurance coverage. Following the negotiations, the parties signed trilateral memoranda of cooperation outlining the key areas of interaction.
This direction is of strategic importance, as Uzbekistan remains one of Kazakhstan’s key trade and economic partners. By the end of 2025, the volume of support provided by ECA to Kazakh exporters to Uzbekistan amounted to approximately USD 300 million. The positive trend continues in 2026: since the beginning of the year, support has already reached USD 26 million.
Currently, ECA actively cooperates with six leading banks in Uzbekistan, ensuring the stability of cross-border trade turnover. The total established limit for partner financial institutions in Uzbekistan amounts to approximately USD 140 million. With ECA support in 2025, Kazakh exporters entering the Uzbek market concluded 94 contracts involving 67 importers. Activities covered sectors such as the food industry, agriculture, metallurgy, construction, and the chemical industry.
One of the key factors in strengthening the position of domestic producers in foreign markets is the strategic synergy between ECA and DBK. Operating within a unified financial framework of the Baiterek Holding, the development institutions provide comprehensive support to exporters — from insurance and enhancement of collateral at the investment stage to the implementation of trade and pre-export financing instruments and export contract insurance at the operational stage.
Chairman of the Management Board of ECA Allen Chaizhunusov noted the agency’s readiness to expand its presence in capital-intensive sectors, including civil construction and the railway industry:
“We are ready to offer competitive support conditions and take a flexible approach to structuring transactions, taking into account the specifics of projects, thereby ensuring sustainable development of export operations,” he emphasized.
To systematically scale up the partnership, it was proposed to focus on the gradual utilization and increase of limits, the introduction of inward reinsurance mechanisms to expand financing capacity, and the diversification of the structure of non-resource exports.
Particular attention was paid to supporting Kazakh companies already operating in the Uzbek market, including BI Group, RG Brands, and others. During meetings with the management of NRG-BI and RG Brands South, practical issues related to optimizing supplies and expanding market presence were discussed.
The final stage of the visit included discussions on expanding DBK’s participation in supporting export operations in synergy with ECA. This approach forms a comprehensive model of state support, in which development institutions act as a unified financial framework, reducing risks and increasing access to financing for participants in foreign economic activity.
The transition from individual transactions to a systemic cooperation platform creates a foundation for the long-term and sustainable presence of Kazakh companies in the Uzbek market and the region as a whole, and also contributes to further growth in mutual trade and investment cooperation.
