Kazakhstan, Uzbekistan Ink Major US Trade Deals at UNGA
Kazakhstan and Uzbekistan, two Central Asian nations, have made significant strides in their trade relations with the United States. During the 80th United Nations General Assembly in New York, held from September 23 to 29, their leaders signed major trade agreements on the sidelines of the event.
Kazakhstan sealed a $4.2 billion deal with Wabtec Corp. for the production of 300 freight locomotives at its Astana facility. This agreement is a testament to the growing economic ties between the two nations. Wabtec, an American company, has already invested $230 million in Kazakhstan since 2009, demonstrating its commitment to the region. The company has produced over 600 locomotives domestically, with a localization rate of up to 45%.
The trade agreements signed between Kazakhstan, Uzbekistan, and the United States mark a significant step in their economic relations. These deals, along with the countries' focus on technology and innovation, are set to drive growth and development in the region. The U.S. procurement deals, in particular, are expected to stimulate further investment and boost trade capacity, benefiting all parties involved.
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