The Central Bank of Uzbekistan Has Urged Investors to View Central Asia as a Single Market
Competition between Central Asian countries for the status of a separate investment hub is less productive than promoting the entire region as a single, capacious market. Timur Ishmetov, Chairman of the Central Bank of Uzbekistan, made this statement in an interview with the Financial Times, emphasizing the need for deeper coordination of economic policies and the creation of an open trade space between neighbors.
Strong demographic and economic potential underpins consolidation. In the coming years, the combined population of the region's countries will exceed 100 million, and the combined economic size could potentially reach $1 trillion, making Central Asia fundamentally more attractive to large international capital. According to the head of the regulator, the normalization and development of good neighborly relations has already become a key driver of growth for all participants, creating a win-win synergy.
The formation of a common market and a shift away from internal contradictions will allow the Central Asian region to act as a monolithic and predictable player in the global economy.
Source: This news story is based on publications by the international newspaper Financial Times and Gazeta.uz.
