US and Central Asian leaders sign billion-dollar deals at Washington summit

US President Donald Trump hosted the region’s leaders at the C5+1 format summit with Central Asian countries in Washington on November 6.

The summit, established as a regional diplomatic platform in 2015, was attended by President Shavkat Mirziyoyev of Uzbekistan, President Serdar Berdimuhamedov of Turkmenistan, President Sadyr Japarov of Kyrgyzstan, President Emomali Rahmon of Tajikistan, and President Kassym-Jomart Tokayev of Kazakhstan.

Billion-dollar deals signed

During the summit, Kazakhstan and the US reached an agreement to develop one of the world’s largest tungsten deposits in the country.

According to the agreement, the American company Cove Kaz Capital Group will hold a 70% stake in the joint venture to be established with the state mining holding Tau-Ken Samruk. The total value of the agreement is estimated at $1.1 billion.

The total value of commercial agreements signed between the two countries exceeded $17 billion.

Additionally, it was announced that Kazakhstan will join the Abraham Accords, which aim to normalize relations with Israel in the Middle East.

Meanwhile, Trump announced that Uzbekistan will invest more than $135 billion in the US over the next 13 years.

It was stated that approximately $35 billion of this investment will be directed toward key sectors of the American economy in the first three years, with the remaining $100 billion-plus to follow in the subsequent decade.

A cooperation agreement was also signed between Uzbekistan and the US regarding the production of rare earth elements.

The agreement was signed by the country’s Ministry of Geology with the company Denali Exploration, and by the Uzbekistan Fund for Reconstruction and Development with the US firm Re Element Technologies.

Furthermore, an agreement was reached on the supply of Boeing aircraft to the Uzbekistan Airways fleet. The deal increased the number of firm orders for 787-9 Dreamliner aircraft from 14 to 22.

Trump: Central Asia has great resource potential

In his statement, US President Donald Trump said that Central Asia has significant resource potential.

Trump emphasized that the region possesses rich reserves not only of oil and natural gas but also of rare earth metals.

Stating that Washington aims to strengthen its partnership with Central Asian countries, Trump noted that the parties would increase mutual investments.

Trump reported that similar agreements regarding rare earth elements could be signed with other C5 countries.

Kyrgyzstan’s President Sadyr Japarov stated that his country’s primary goal was to resolve border issues with neighboring countries and that this objective has been achieved.

Noting that his country’s hydropower potential exceeds 140 billion kilowatt-hours per year but only 15% of it is utilized, Japarov said that Kyrgyzstan is ready to offer large and attractive investment projects in this area.

Japarov added that Kyrgyzstan’s IT service exports to the US have also increased 45-fold.

Tajikistan’s President Emomali Rahmon expressed that his country is ready to cooperate with both the US and European countries in the field of natural resource extraction.

Rahmon also stated that Tajikistan is ready to develop its “green energy” capacity and export it to neighboring countries.

Uzbekistan’s President Shavkat Mirziyoyev invited his US counterpart to his country, saying, “In our country, they call Trump the president of peace.”

Kazakhstan’s President Kassym-Jomart Tokayev described Trump as “a great leader sent by God.”