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International Business: Uzbekistan And Kazakhstan Essay

2699 words - 11 pages

As it’s known from the passed course, International business is based on the possibility of benefit from the advantages of cross-national business operations, that is, from the fact that the sale of certain goods in another country, or establishing the production of the firm based in one country in the other one, ensure the high benefits to the involved business parts than they would have had, running business only in their countries.
In this work apart from the general integral summery of each of the sectors needed to study, also the history and specific features of the relationship between the Republic of Kazakhstan and the Republic of Uzbekistan are presented to fully ...view middle of the document...

Government policy relied on state control, planning and direct intervention in many sectors of the economy.

Uzbekistan has made progress in energy and food self-sufficiency, and pursued a policy of "allocation", that is to promote and protect the interests coincides with domestic production. In recent years this policy has demonstrated clear success in terms of increasing value added in industry with 14% of GDP in 2001 to 24% of GDP in 2009, following the slowdown of the industrial sector with 33% of GDP in 1991
In 1996-2003 there was observed an acceleration in economic growth from 4% to more than 7% in 2004-2006 and more than 9% in 2007-2008, stimulated mainly (but not only) by the demand in outer market. These growth rates, along with an impressive reduction (according to the official data) of the population growth from 2% in 1996-1999 to 1.3% in 2000-2008 contributed to a sharp increase per capita annual GDP - from 2% in late 1990 to 6% in 2004-2006 and more than 7% in 2007-2008. Despite the global slowdown, economic growth rates in Uzbekistan were continued keeping about 8% in 2009 and 2010.

The financial system of the Republic of Uzbekistan is regulated by the Ministry of Finance of the Republic of the Uzbekistan, which implements the financial, antimonopoly pricing policies of the Republic of Uzbekistan and is responsible for the supervision of the organization of finance and pricing on its entire territory.
In Uzbekistan the traditional two-tier banking system, headed by the Central Bank of Uzbekistan is established.
In 1996-2003 there was a system of multiple exchange rates and valued foreign exchange in Uzbekistan. In October 2003 the Government officially announced the national currency convertibility for current transactions.
Exchange value of the sum against the U.S. dollar is 1657.19 (as of January 2011). On July 1, 1994 the national currency "sum" was introduced as the only legal tender in the Republic of Uzbekistan.

According to the Constitution, Uzbekistan is a secular, democratic republic. The Republic of Uzbekistan, a unitary state, is headed by a president. The supreme state representative body is the Oliy Majlis of the Republic of Uzbekistan, legislating. Oliy Majlis consists of two chambers: the Legislative Chamber (lower house) and Senate (upper house) (the Constitution of the Republic of Uzbekistan, Ch. 18, Art. 76).

Over the history of bilateral cooperation there were held 10 high-level visits.
A major outcome of the President Islam Karimov’s visit to Astana was an agreement on the establishment of cross-border free trade zone. In general, bilateral relations are developing in line with agreements reached at the Summit. So, Uzbekistan and Kazakhstan successfully interact on issues of regional security and economic integration, are parties to the SCO, CSTO, and the Treaty on the joint actions for the antiterrorism protection, political and religious extremism, transnational organized...

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