Uzbekistan’s foreign trade turnover volume with China amounted to $5.8 billion from January through June 2024, Trend reports.
As per data from Uzbekistan’s Statistics Agency, this figure is 9.4 percent higher year-on-year ($5.3 billion in January-June 2023).
China ranks first among the countries with the largest volume of foreign trade turnover in Uzbekistan. The country’s share in the total volume of trade turnover in Uzbekistan accounts for 18.5 percent.
The volume of exports to China from Uzbekistan amounted to $994.7 million, which is 0.5 percent less compared to the same period last year ($1 billion in January-June 2023).
Uzbekistan’s imports from China reached $4.9 billion from January through June 2024. This indicator has increased by 16.6 percent year-on-year ($4.2 billion in January-June 2023).
Meanwhile, Uzbekistan's foreign trade turnover volume amounted to $31.8 billion from January through June 2024. This figure has increased by 8.5 percent year-on-year ($29.3 billion in January-June 2023).
Uzbekistan's exports reached $12.9 billion from January through June 2024, while imports amounted to $18.8 billion.
Ant Group sees 300% rise in international users adopting mobile payment in China in 2024
Images | Ant Group
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Ant Group today announced the number of international visitors who have used its mobile payment services in China quadrupled over the past six months, following the launch of the International Consumer Friendly Zones program in March that has now expanded to 70 Chinese cities, Ant Group reports.
Speaking at the 2024 INCLUSION·Conference on the Bund, Cyril Han, President and CFO of Ant Group, said transaction volumes of inbound tourists using Ant-supported mobile payment services grew by sixfold between March and August 2024 year-on-year. This surge has created significant business opportunities for local merchants. The number of Chinese merchants regularly servicing overseas travelers through the company’s mobile payment solutions have tripled during the same period.
Since 2019, Ant Group, with the support of the People’s Bank of China, has collaborated with international card networks and overseas digital wallets to drive innovation in inbound mobile payments, a collective effort known as the China Payment Facilitation Partnership. During the 2023 Hangzhou Asian Games, Ant introduced two mobile payment solutions for international visitors, and the number of supported international payment partners has continued to grow since then.
Through Alipay+, the cross-border mobile payment and digitalization solutions operated by Ant International, international visitors can pay with their home e-wallets across China. Alipay+ now supports 13 leading e-wallets and payment apps in Asia for use across an 80-million-strong merchant network in China, an increase from 10 payment partners in 2023. Those include AlipayHK (Hong Kong SAR, China), Kaspi.kz (Kazakhstan), MPay (Macao SAR, China), Touch 'n Go eWallet (Malaysia), Hipay (Mongolia), NayaPay (Pakistan), Changi Pay (Singapore), OCBC Digital (Singapore), Kakao Pay (South Korea), Naver Pay (South Korea), Toss Pay (South Korea), TrueMoney (Thailand), and GCash (the Philippines).
The other option allows visitors to bind major international bank cards - Visa, Mastercard, JCB, Discover®, Diners Club International, and UnionPay International - to the Alipay app to access to a rich array of local services, including shopping, dining, ride-hailing and public transportation, without needing a Chinese-mainland bank account or phone number. The number of card networks supported on Alipay is expected to increase to 7 as American Express has recently received an approval for an inbound wallet solution in China.
In addition to increased payment volumes, inbound tourists are embracing value-added services available on digital wallets for more immersive local experience. The number of Alipay+ partner wallet users redeeming digital coupons increased by 105% quarter-on-quarter over the past six months. Alipay+ wallet partners also introduced over 160 China-travel mini-programs to help visitors access services such as luggage storage, power-bank rentals, massage chairs, and even claw machines.
Inbound tourism to China is experiencing a robust recovery, driven by a combination of government policies and private-sector initiatives like the International Consumer Friendly Zones program. These efforts have significantly alleviated challenges such as visa requirements, payment accessibility, and transportation capacity, making it easier for people to explore China," says Liu Yufeng, Deputy Secretary-General, World Tourism Alliance, a China-based international tourism organization that currently has 253 members from 45 countries and regions.
Mohammed Badi, President of Global Network Services, American Express, said "American Express and Alipay have discussed potential areas of collaboration to deepen our partnership and we recently received approval from the State Administration of Foreign Exchange for an inbound wallet solution, which we very much appreciate. Both American Express and Alipay will share more information with our customers, stay tuned."
OCBC was the first Singaporean bank to offer global cross-border payment services through our own app via Alipay+, enabling our Singaporean customers to make payments easily at millions of merchants within Alipay+'s global ecosystem, including those in the Chinese mainland. As Alipay+ continues to expand its global services, we will keep improving our products and enhancing user experience, striving to gain recognition in even broader markets," says Ang Eng Siong, Chief Executive Officer, OCBC China.
Images | Ant Group
In first half of 2024, the number of users utilizing Alipay+ via the OCBC app doubled on year, with the transaction amount nearly tripling, said Mr. Siong.
We've been encouraged by the substantial growth in mobile payment adoption among international visitors and the resulting boost in transactions for our merchant partners, especially since the launch of the International Consumer Friendly Zones program. Ant Group is committed to further elevating inbound travel experience through technological innovation and partnerships," says, Cyril Han Xinyi, President and CFO, Ant Group.
Ant Group alongside its partners launched the International Consumer Friendly Zones program in Beijing in March 2024 to improve digital payment options' accessibility and ease of use for international travelers and has since expanded it to 70 cities, including Shanghai, Guangzhou, Shenzhen, Chongqing, and Chengdu. The program also covers 500 tourist hot spots, such as the Bund in Shanghai and Hangzhou’s famed West Lake.
At the main forum of the Conference, Peng Yang, CEO of Ant International, noted the impact of digital innovations on opening low-cost growth paths for SMEs across main businesses of the Singapore-based company. "Alipay+ has established a global network of 90 million merchant partners across 57 markets to make global travel seamless; while WorldFirst and Antom offer secure and fast digital payment solutions tailored to the needs of SMEs, global merchants and platforms. We look forward to expanding our partnership for digitalization and inclusion in all regions."
About Ant Group
Ant Group traces its roots back to Alipay, which was established in 2004 to create trust between online sellers and buyers. Over the years, Ant Group has grown to become one of the world's leading open Internet platforms. Through technological innovation, Ant Group supports its partners in providing inclusive, convenient digital life and digital financial services to consumers and SMEs. In addition, it has been introducing new technologies and products to support the digital transformation of industries and facilitate industrial collaboration. Working together with global partners, the company enables merchants and consumers to make and receive payments and remit around the world.
About Ant International
Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realize their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions.
About Alipay+
Alipay+ is a suite of cross-border digital payment, marketing and digitalization solutions that help connect global merchants to consumers. Consumers enjoy seamless payment and a broad choice of deals using their preferred payment methods while travelling abroad. Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.
Kazakhstan sees manufacturing overtake mining in GDP share
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Manufacturing has overtaken the mining industry in terms of its share in the GDP of Kazakhstan in 2024, Industry and Construction Minister Kanat Sharlapaev said during the Astana Finance Days 2024 Conference in the Kazakh capital of Astana, Kazinform News Agency correspondent reports.
During the event, the Kazakh minister pointed out that Kazakhstan is interested in attracting investments in rate earth metals and battery technologies for the automotive industry.
Kazakhstan’s non-ferrous metals production has grown 6% year-over-year, which is attributable not only to commodity prices, but also to institutional support and transition to clean energy.
Our country’s legislation is well developed to be convenient for investors. Also, there are a few countries with such a level of supply of natural resources. As for manufacturing, there was an interesting case this year. In fact, manufacturing has overtaken the mining industry in terms of its share in the GDP. This is, indeed, one of the goals, that the country has been pursuing for many years, said Sharlapaev.
The minister went on to say that for many countries, that have long been commodity exporters, this was unattainable, however, our country has surpassed this threshold this year.
Kazakhstan spent 1.06 billion US dollars for importing drugs manufactured abroad in January - June this year. It is the biggest volume in the first half of the year since at least 2019, Kazinform News Agency quotes the Telegram Channel of the First Credit Bureau.
The delivery costs nominally grew by 56% year on year. The last surge was recorded two years ago up to 39%.
Volumes of imports also broke a record reaching 18,900 tons which is 38% more compared to the same period of 2023.
Kazakhstan imports pharmaceuticals from many countries. It imports primarily from Germany with 16% (173.3 million US dollars), India - 9% (93.4 million US dollars), Italy - 7% (74.1 million US dollars), and Russia - 6% (58 million US dollars).
Notably, Russia makes 27% of the cumulative net weight of deliveries up to 5,200 tons.
For the past six months, Kazakhstan manufactured medicine worth 87.3 billion tenge (194.4 million US dollars).
Olzhas Bektenov and Deputy Prime Minister of Thailand discuss prospects for trade and economic and investment cooperation
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During the meeting of Prime Minister of the Republic of Kazakhstan Olzhas Bektenov with Deputy Prime Minister of the Kingdom of Thailand Phumtham Wechayachai discussed key issues of bilateral relations concerning the development of trade, cooperation in tourism and sports, as well as prospects for the implementation of joint investment projects and increasing exports of Kazakh products, primeminister.kz reports.
In 2023, trade turnover between Kazakhstan and Thailand reached $367 million. The parties considered the possibility of expanding the range of domestic agro-industrial goods supplied to the Kingdom. In particular, Kazakhstan is interested in exporting meat, fruits and vegetables, cereals, flour products, vegetable oils and other agro-industrial products.
On the instructions of the Head of State, we are developing a national commodity distribution system with an appropriate infrastructure for storage and distribution of agricultural products. This will create the necessary conditions for the formation of an agro-food hub in our country. Deepening cooperation between Kazakhstan and Thailand in this matter is mutually beneficial and promising," Olzhas Bektenov stressed, noting the wide opportunities of Kazakhstan and Thailand in the implementation of relevant investment projects.
In turn, Phumtham Wechayachai expressed confidence in strengthening trade and economic ties between Thailand and Kazakhstan.
This morning we signed an agreement on economic interaction. I believe that this document contributes to the expansion of co-operation in various fields, including trade, economy and investment," Phumtham Wechayachai said.
During the meeting the positive dynamics of development of relations in the sphere of tourism, including granting by the Government of Thailand visa-free regime for citizens of Kazakhstan was noted. Opening of the Consular office in Phuket will provide the necessary support for Kazakhstani citizens staying in Thailand.
In addition, the possibility of using the transit potential of Kazakhstan in the context of the development of the Trans-Caspian route was discussed.
At the end of the meeting, the parties expressed their intentions to deepen economic co-operation between the two countries.
Kazakhstan records 78.7% rise in passenger water transportation
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142,200 people were transported by water in Kazakhstan in January-July 2024, which is 78.6% more against the same period in 2023 - 79,600, Kazinform News Agency learned from the National Statistics Office.
Revenues from passenger transportation amounted to 318.1 million tenge.
Inland water communication is available in Abai, Atyrau, Pavlodar, East Kazakhstan regions and in the city of Astana. Inland water transport includes passenger ships and pleasure boats.
8.4% decrease was recorded in transportation of passengers by sea in June-July. For instance, 23,800 people were transported in this period period by sea, while in the same period in 2023 this figure was at 26,000.
Maritime transport operates in Kazakhstan’s Atyrau and Mangystau regions.
Volume of domestic pharmaceutical production increased to 95 billion tenge - Ministry of Healthcare
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At the Government session, Minister of Healthcare Akmaral Alnazarova reported on the measures taken to support domestic manufacturers of pharmaceutical products, primeminister.kz reports.
The industry continues to work on import substitution. Thus, at the end of the first half of 2024 the volume of production of domestic pharmaceutical products increased to 95 billion tenge, the growth was 14.5%. 94 long-term contracts with 35 domestic manufacturers for the supply of about 4 thousand items have been concluded. By the end of this year it is planned to conclude a new pool of long-term contracts with 24 potential manufacturers for the supply of 1,412 units of medicines and medical instruments. Within three years it is planned to gradually reach the specified volumes of long-term contracts.
When purchasing medicines, preferences for domestic manufacturers are actively used. With the use of this mechanism in the current year, the supply of 196 items of medicines in the amount of 29.5 billion tenge is carried out. TOP-10 manufacturers in the first half of this year increased the output of finished products under the purchase of the Unified Distributor. The total growth was 21%," Alnazarova said.
The Ministry of Healthcare has formed a list of priority medicines for treatment of the most common diseases based on the WHO list. A total of 283 items have been selected, of which 107 or 37.5% are produced in Kazakhstan. The head of the agency stressed that in the short term it is necessary to establish production of the remaining 178 priority drugs. This will ensure a sustainable basic level of drug security in the country.
As part of the National Project "Modernisation of Rural Health Care" in the design and construction of PHC facilities, domestic products are included in the list of mandatory equipment (more than 72%).
The Minister voiced a number of proposals for further support of domestic pharmaceutical manufacturers:
To resume the financial leasing mechanism on the basis of KazMedTech JSC with priority purchase of domestically produced medical equipment.
To increase the competitiveness of domestic pharmaceutical products, to exempt them from excise duties on ethyl alcohol used for the production of pharmaceutical products.
At the same time, in order to stimulate domestic manufacturers, the Ministry will implement the following measures:
use of the mechanism of conditional discount for domestic pharmaceutical companies with a higher share of local content when procuring by "tender" method;
determination of the terms of validity of long-term contracts depending on the depth of localisation.
Investments in Kazakh capital’s economy total over KZT632bn
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President of Kazakhstan Kassym-Jomart Tokayev received Mayor of Astana Zhenis Kassymbek, during which the former was briefed about the social and economic and infrastructure development of the capital in the first six months of this year, Kazinform News Agency cites Akorda.
According to Kassymbek, there were positive dynamics in all the key economic indicators. The volume of investments stood at over 632 billion tenge, 13.2% more than the given period of last year. Projects are being actively carried out in manufacturing, medicine, education, transport and logistics.
The President was briefed about the construction of schools, affordable preferential housing and health centers, demolition of emergency houses, development of residential areas, improvement and landscaping of the city. This year, over 20 schools and six student dormitories for 4,500 places are set to be constructed. There are plans to improve 170 courtyards and public spaces, including parks, squares, boulevards, as well as carry out repairs on around 70 streets.
Speaking about the systemic work to end unfinished construction of residential buildings, Kassymbek said that out of a total of 16 thousand equity holders, 15.5 thousand received apartments. The remaining families will get their apartments by the end of this year.
The Head of State was also informed about the preparation for the upcoming heating season. So, the first stage of the Telmana gas thermal power plant, the second stage of the Turan gas thermal power plant and a coal unit of the thermal power plant-3.
Following the meeting, Tokayev gave a number of instructions regarding the social and economic development and improvement of the city as well as preparation for the 5th World Nomad Games.
New measures to support domestic commodity producers allows to increase contracts with Kazakhstani enterprises by 58%
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During the Government session, where the issues of support for domestic producers were considered, the Minister of Finance of the Republic of Kazakhstan Madi Takiyev reported on the measures taken in the field of regulated procurement, primeminister.kz reports.
In order to promptly expand the list of goods, works and services exempted from the national regime this year at the legislative level was excluded the requirement to analyse the regulatory impact when establishing exemptions. This allowed to expand the list from 1,380 to 4,542 items of goods.
In the first 7 months of this year, 34,805 contracts were concluded with domestic producers, which is 58.1 per cent more than in the same period last year. The rules of cameral control of the Ministry of Finance are supplemented with a new risk profile. Now the results of purchases in which foreign goods are purchased instead of domestic ones are cancelled by the state audit bodies. In total, since April this year cancelled 8 purchases worth 25 million tenge," Takiyev reported.
In addition, amendments have been made to the current Rules of public procurement and quasi-public sector procurement, which provide for:
priority purchase of goods, works and services from suppliers who are in the register of domestic producers of goods;
mandatory advance payment to domestic producers of goods in the amount of 30%, which allows suppliers to fulfil their contractual obligations in a timely and proper manner;
exemption of domestic producers of goods from all types of collateral (security for advance payment, contract and anti-dumping measures);
reduction of penalties (fines, penalties) for domestic producers of goods from 10 per cent to 3 per cent, which is also a significant support measure;
procurement of goods subject to offtake contracts by single-source method in quasi-public sector procurement.
According to the Minister, these measures are aimed at stimulating domestic production and ensuring the share of Kazakhstani content in regulated procurement. Thus, for 6 months of this year, the share of Kazakhstan content in regulated procurement increased to 54.3%. It is noted that for 2023 it was 51%.
Within the framework of the new Law "On public procurement", adopted on 1 July 2024, there are additional measures aimed at supporting domestic producers of goods, works and services. Among them there is a further expansion of the list of exemptions from national treatment. As practice has shown, this mechanism of support for domestic producers is effective. In this regard, sectoral state bodies are invited to make more active use of the tool of establishing exemptions," the Minister of Finance said, stressing that the purchase of goods, works and services from SMEs in the order and volumes approved by the Ministry of Finance will support domestic small and medium-sized businesses and provide them with volumes of purchases.
The list will be effective from 1 January 2025. All of the above measures, in turn, will ensure that the share of Kazakhstani content in regulated procurement exceeds 60%.
