Prospects for economic cooperation in central asia
Mukhtarova K. Makasheva K. Kenzhebaeva Z. Sadyrova M.
2021CA and C Press AB
Central Asia and the Caucasus
2021#22Issue 394 - 108 pp.
This research article examines the state and prospects of economic cooperation among the countries of Central Asia (CA). As history would have it, economic cooperation within the CA region was previ-ously limited, and investments in Central Asia were mainly concentrated in the mining sector of the economy. Demographic and economic trends in the region have led to an expansion of the internal market; most Central Asian states have implemented wide-ranging reforms, which have improved the overall investment climate; and the CA states have stepped up the development of multilateral trade and economic relations, laying the groundwork for broader coopera-tion. The article also covers recent problems related to the economic situation in the re-gion. For example, the current situation as-sociated with COVID-19 has had an impact on economic relations between the CA coun-tries. In the view of international experts, this crisis has not provided any new reasons for integration in the region. The quarantine measures taken in various Central Asian countries have had a negative effect on their foreign trade and thus on intra-regional trade and economic cooperation in general. The authors also examine other prob-lems, such as those caused by the CA coun-tries’ economic dependence on other coun-tries, namely their dependence on imports from outside the region. These problems also affect the prospects of economic cooperation in Central Asia. All countries, including those rich in natural resources, want to produce and ex-port finished goods with high value added. The production of high value added products and services enables a country to earn more revenue and reduce its dependence on primary commodity exports. The Central Asian countries are no exception. But for many reasons their finished products are of-ten insufficiently competitive in countries outside the region. Despite the existence of economic problems connected with the need to im-prove the economic aspects of cooperation, there is a clear trend towards diversification of the economy of the CA countries caused by a desire to develop various specializa-tions. These include agricultural processing, production of consumer goods for the popu-lation, development of the service sector, and other areas. Thus, the choice of a new model for the development of multilateral relations and the emerging trend towards economic growth in the region have made it possible to lay the foundation for long-term cooperation among the Central Asian states.
Central Asia region , Central Asian countries , Diversification of the economy , External economic policy , Kazakhstan , Kyrgyzstan , Region , Regional cooperation , Tajikistan , Trade regimes , Turkmenistan , Uzbekistan
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Department of International Relations and World Economy, al-Farabi Kazakh National University, Almaty, Kazakhstan
Department of Economics, NARXOZ University, Almaty, Kazakhstan
Department of Sociology and Social Work, al-Farabi Kazakh National University, Almaty, Kazakhstan
Department of International Relations and World Economy
Department of Economics
Department of Sociology and Social Work
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