The Eurasian Development Bank’s first macroeconomic study on the Persian Gulf states highlights a sharp expansion in trade and investment ties between the Gulf Arab monarchies and Central Asian republics over the 2020–2024 period.
The report examines the deepening of economic and strategic relations between Kazakhstan and the United Arab Emirates, highlighted by the signing of nine bilateral agreements worth $5 billion. These include major investments in port infrastructure at Kuryk and Aktau, expansion of agri-food trade, and significant financial integration through the Astana International Financial Centre (AIFC).
Both Saudi Arabia and Qatar have demonstrated their interests in investing in Uzbekistan’s economy and infrastructural projects in different fields. Doha and Riyadh’s investments in the Uzbek market confirms how Central Asia has become attractive for Gulf Arab monarchies since the region plays a strategic role in connecting Europe and Asia.