The European Commission has apparently informed the Kyrgyz government that the country has received “GSP+” status, which means that Kyrgyzstan will now be able to export goods to the EU without paying customs duties on exported goods, in a move that could boost the country’s exports to the West. In Kazakhstan, a new steel factory is set to be built and President Nazarbayev has announced his government’s plans to meet the internal market’s demand for domestic oil products by 2018. Meanwhile, Iran’s trade ties continue to boom as two German chemical companies are ready to spend between €4 billion and €8 billion on developing petrochemical projects in the country, whilst Iran considers spending its recently unfrozen $100 billion on investments and projects abroad in order to avoid raising inflation rates.

Kyrgyzstan granted right to export goods duty-free to EU

According to the Kyrgyz Ministry of Economy, the European Commission has verbally informed the government that the country has received “GSP+” status, meaning that Kyrgyzstan will now be able to export more than 6,000 types of goods to the European Union (EU) duty-free.

The Ministry of Economy reiterated that Kyrgyz exporters paid customs duties of 14.6% for fruit and vegetables and 5-9% for garments when exporting their products to the EU. “As participants of GSP+, Kyrgyz exporters will now export these goods to EU member countries at zero rates,” the ministry added.

Delhi to host East Kazakhstan investment roadshow

The signature business-to-business event, which is expected to take India-Kazakhstan commercial ties forward, will be held next week at the Shangri-La Hotel. It is being organised by the Embassy of Kazakhstan and the government of the East Kazakhstan region in partnership with the Associated Chambers of Commerce and Industry of India.

The roadshow will feature presentations on East Kazakhstan, its potential investment climate and its most attractive business projects.

The Kazakh side will be represented by the Ambassador of Kazakhstan to India, Bulat Sarsenbayev, the first deputy governor of the East Kazakhstan region, Narymbet Saktaganov, the mayor of Semeysity, Salimov Yermak, and government and business representatives of East Kazakhstan.

In terms of industry and investment potential, East Kazakhstan provides a unique combination of industry and agriculture, thus ensuring food security and a significant contribution to the Kazakh economy. This agricultural industry is spread over six of the seven soil-climatic zones available.

New steel factory for Kazakhstan

A new steel factory will be built in Southern Kazakhstan by the end of 2016.

The steel factory will be built in the Ordabasy district in the Kazakh-Turkish industrial zone and will produce up to 150,000 tonnes of pump housings and steel sheets per year.

The factory’s products, which will be sold on the local market, are also due to be exported in the near future.

Kazakhstan’s iron and steel industry produces about 12.5% of domestic industrial output and ranks amongst the 30 largest steel producing countries.

Kazakhstan may stop importing oil products

The President of Kazakhstan Nursultan Nazarbayev, speaking on 29 January at the XVII Extraordinary Congress of the Nur Otan Party, has announced the aim to fully meet the internal market’s demand for domestic oil products, including gasoline, diesel fuel, jet fuel and gas, by 2018.

Nazarbayev also said that oil production volumes in Kazakhstan will reach 92 million tonnes per year by 2021, with the figure currently standing at 79.5 million tonnes in 2015.

Kazakhstan has three major oil refineries - Atyrau, Shymkent and Pavlodar. All three plants are being modernized, which will provide the country’s domestic market with its own fuel and lubricants.

Turkish firm to build glass factory in Turkmenistan

Turkey’s Tepe Turkmen Insaat ve Ticaret Anonim Sirketi will build a glass factory in Turkmenistan.

The company will also build a plant that will produce quartz sand, used as the main raw material for glass production, in the Derweze district of Turkmenistan’s Akhal province.

The glass plant is designed to produce seven types of glass products, including transparent and tinted, laminated and tempered glass with a thickness of four millimetres, and 85 million units of various transparent and coloured glass containers.

Iran to export gas oil to Tajikistan

The National Iranian Oil Products Distribution Company (NIOPDC) has announced the official launch of the export of Iranian gas oil to Tajikistan for the first time in the history of the two countries.

After months of negotiations and the removal of international sanctions, the first shipment of Iranian gas oil was exported to Tajikistan, turning the Central Asian country into Iran’s third fuel oil customer, after Iraq and Afghanistan.

The Provincial Director of the NIOPDC, Mohammad-Mehdi Gharaei, noted that the first ever gas oil shipment to Tajikistan was transported through land borders in the Khorasan Razavi province.

Tajikistan seeks support for interest-free banking from Qatar

Nematullo Hikmatullozoda, Tajikistan’s Minister of Economic Development and Trade, paid a visit to the headquarters of the Qatar International Islamic Bank (QIIB).

Hikmatullozoda said that Tajikistan was keen to benefit from Islamic banking and utilise the experience of the Islamic banks in his country. He also said that Tajikistan wholeheartedly welcomes investment, especially in the area of Islamic finance. He expressed the hope that Tajikistan would be able to attract Islamic banks to his country, where his ministry was making efforts to convince investors about the attractive investment opportunities available.

Austrian companies may build transport infrastructure in Turkmenistan

The prospect of cooperation between Turkmenistan and Austria in the economic and energy spheres was discussed during a meeting in the Turkmen foreign ministry, with a delegation led by the Second President of the Austrian National Council, Karlheinz Kopf.

In addition, the sides discussed the participation of Austrian companies in the construction of transport infrastructure facilities in Turkmenistan. The positive dynamics of the countries’ bilateral trade was also highlighted, with particular importance given to the role of the joint intergovernmental Turkmen-Austrian commission.

Turkmenistan brings Trans-Caspian pipeline to the table

The Trans-Caspian gas pipeline, the popular energy project that will enable Ashgabat to diversify its energy routes, has occupied the Turkmen government’s agenda once again.

On 1 February, Turkmenistan announced that it has activated works for supplying gas to the European market via the planned Trans-Caspian Pipeline (TCP), advocated by Azerbaijan and Turkmenistan, and backed by the EU and Turkey.

The diversification of Turkmenistan’s energy supply is expected to be discussed during the seventh Turkmenistan Gas Congress scheduled for 19-20th May in Avaza.

The TCP stipulates that the transportation of Turkmen gas will run through the Caspian Sea to Azerbaijan, and then onwards to Turkey and Europe. Turkmen President Berdymukhamedov recently emphasised that the pipeline project is receiving much international support, while Maros Sefcovic of the European Commission said that Europe expects to get the Turkmen gas in 2019.

Iran’s $100 billion now “fully released”

The Iranian government says Iran can now access more than $100 billion in frozen assets after the implementation of a nuclear agreement last month. “These assets have fully been released and we can use them,” said Government spokesman Mohammad-Baqer Nobakht.

Much of the money from sales of Iranian oil has been piling up in banks in China, India, Japan, South Korea and Turkey over the past few years. Those countries have been holding the funds in escrow because sanctions imposed by the West in 2012 prevented the Islamic Republic from repatriating them.

However, the bulk of the roughly $100 billion will not be sent home. State officials are aware of the inflationary impact that a sudden rush of money of this magnitude could have on the economy. As such, Iran is likely to move the funds in various directions abroad for use in different purchases or investments.

Uzbekistan Railways to implement projects worth $1.8 billion

Uzbekistan Railways aims to carry out 28 investment projects worth $1.8 billion. During a conference on the “Socio-economic results of Uzbekistan Railways in 2015 and plans for 2016“, the company announced its intentions to make $801.03 million worth of investments and to attract an additional $799.22 million.

The major projects set to be funded include the purchase of new passenger trains, the completion of the construction of the Angren – Pap railway line with the electrification of the Qoqand – Andijan section, the organisation of high speed railway services on the Samarkand – Bukhara route, the construction of a new Navoi-Kanimeh-Misken railway line and the completion of the electrification works on the Qarshi-Termez line.

Turkmenistan brings Trans-Caspian pipeline to the table

The Trans-Caspian gas pipeline, the popular energy project that will enable Ashgabat to diversify its energy routes, has occupied the Turkmen government’s agenda once again.

On 1 February, Turkmenistan announced that it has activated works for supplying gas to the European market via the planned Trans-Caspian Pipeline (TCP), advocated by Azerbaijan and Turkmenistan, and backed by the EU and Turkey.

The diversification of Turkmenistan’s energy supply is expected to be discussed during the seventh Turkmenistan Gas Congress scheduled for 19-20th May in Avaza.

The TCP stipulates that the transportation of Turkmen gas will run through the Caspian Sea to Azerbaijan, and then onwards to Turkey and Europe. Turkmen President Berdymukhamedov recently emphasised that the pipeline project is receiving much international support, while Maros Sefcovic of the European Commission said that Europe expects to get the Turkmen gas in 2019.

German chemical firms first to fund projects in Iran

The head of Iran’s National Petrochemical Company (NPC) has stated that two leading chemical companies from Germany have expressed their readiness to spend between €4 billion and €8 billion on developing petrochemical projects, making Germany the first post-sanctions partner of the Iranian petrochemical sector.

Abbas Shari-Moqaddam said the two firms are yet to finalise the level of their investments in Iran, but are currently studying Iran’s petrochemical sector.

He also said that NPC is in talks with investors from Germany, Spain, Japan and Italy, adding that foreign investors are waiting for the finalisation of a feedstock pricing formula and the full implementation of the Joint Comprehensive Plan of Action (JCPOA).