TIFA Council meeting notes challenges of developing new trade routes

19 Jun '24

1 min read

TIFA Council meeting notes challenges of developing new trade routes

Pic: gov.kz

Insights

Participants at the recently-held 15th US-Central Asia Trade and Investment Framework Agreement Council meeting in Astana noted the challenges of developing new trade routes to improve supply chain resilience and economic diversification.
The US emphasised the importance of partners' efforts to raise alignment between domestic and international labour laws.

Participants at the recently-held 15th US-Central Asia Trade and Investment Framework Agreement (TIFA) Council meeting in Astana, Kazakhstan, noted the challenges of developing new trade routes to improve supply chain resilience and economic diversification.

This offers an opportunity to use new economic and technical tools to improve trade and integration, they said.

US trade representative Katherine Tai, Kazakhstan’s deputy prime minister Serik Zhumangarin, Kyrgyz Republic’s deputy minister of economy and commerce Nazarbek Malaev, Tajikistan’s deputy minister of economic development and trade Akhliddin Nuriddinzoda, Turkmenistan’s minister of trade and foreign economic relations Begench Gochmollaev and Uzbekistan’s deputy prime minister Jamshid Khodjaev participated in the event.

Senior officials exchanged views on their government’s priorities for increasing and diversifying trade and investment opportunities between the United States and Central Asia, a USTR release said.

The participants discussed the implementation of certain policy reforms intended to facilitate trade and create a predictable business environment.

The United States emphasised the importance of Central Asian partners’ ongoing efforts to increase alignment between domestic labour laws and international labour standards and ensure workers can exercise their internationally recognised labour rights.

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