Tag Archives: economy

Georgia unable to reach WTO deal with Russia

SEPT. 13 2011 (The Conway Bulletin) – More deadlock between Georgia and Russia over Russian negotiations to join the WTO. In Switzerland, after the latest round of talks, officials from both countries emerged to say that no deal had been reached, media reported. Georgia has a veto over Russian WTO plans. More talks are scheduled.

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(News report from Issue No. 57, published on Sept. 19 2011)

Kazakh president says Kashagan will hit 2012 start

SEPT. 16 2011 (The Conway Bulletin) – According to Kazakh President Nursultan Nazarbayev, the Kashagan oil project in the Caspian Sea is back on schedule. On a trip to West Kazakhstan, he said Kashagan will produce oil next year as planned, local media reported. Kashagan is crucial to Kazakh plans to join the world’s top five oil producers by 2018 but rumours have been circulated that it had been delayed.

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(News report from Issue No. 57, published on Sept. 19 2011)

Kazakh president visits France

SEPT. 19 2011 (The Conway Bulletin) – Underlining Kazakhstan’s increasing prominence in global economic affairs, President Nursultan Nazarbayev flew to France for a meeting with French President Nikolas Sarkozy. No major deals were signed at the meeting but the leaders promised closer cooperation and flights between Paris and Astana.

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(News report from Issue No. 57, published on Sept. 19 2011)

Forbes magazine moves into Kazakhstan

SEPT. 8 2011 (The Conway Bulletin) – US publisher Forbes said it would start producing a Kazakh edition of its magazine, a nod to the country’s growing reputation in international investment circles. This will be the third Forbes title in the former Soviet Union after Russia and Ukraine. Forbes did not say when the first issue would be published.

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(News report from Issue No. 56, published on Sept. 12 2011)

Row starts between Georgia and Russia before WTO talks

AUG. 31 2011 (The Conway Bulletin) – Russia is unwilling to lift a ban on a number of Georgian products, Georgian Minister for Economic Development, Vera Kobalia, told local media. Her comments come shortly before vital WTO talks between Russia and Georgia, due to restart in Switzerland on Sept. 12. Georgia is the last country blocking Russia’s WTO membership.

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(News report from Issue No. 55, published on Sept. 6 2011)

Russia wins tug-of-war over military base in Tajikistan

SEPT. 6 2011 (The Conway Bulletin) – After months of negotiations, Russian President Dmitri Medvedev and Tajik President Emomali Rakhmon announced on Sept. 2 that Russia would indeed extend the lease on its military bases in Tajikistan by 49 years.

Reuters also reported, without giving details, that Russian forces would once again patrol the Tajik-Afghan border — a deal Russia has been pushing for all year. The details still need to be thrashed out, including just how much Russia will pay for the bases, but the announcement was a significant milestone.

The deals secure Russia’s military might on the fringe of Central Asia where control has become increasingly important. NATO plans to withdraw from Afghanistan over the next couple of years and the Central Asian states have been worried about Taliban forces moving northwards.

Russia quit patrolling the Tajik-Afghan border in 2005 but has said throughout the year it wants to regain control to stem the drugs flowing from Afghanistan.

The Kremlin has also been thinking strategically about its military bases and has extended leases on large bases in Armenia and Ukraine. Its deployment in Tajikistan is one of its biggest with roughly 7,000 soldiers and hundreds of tanks and planes stationed there.

Both China and India have bolstered their economic, diplomatic and military reach in Central Asia over the last few years, so for Russia to secure its long-term hold on its military bases in Tajikistan represents a significant achievement.

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(News report from Issue No. 55, published on Sept. 6 2011)

Kyrgyz PM hints at joining Russian economic union

SEPT. 5 2011 (The Conway Bulletin) – In an interview with Russian state newspaper Rossiiskaya Gazeta, Kyrgyz PM Almazbek Atambayev again said Kyrgyzstan was ready to join the Russia-Kazakhstan-Belarus customs union. Many observers say the union is a Russian attempt to increase its influence over its neighbours.

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(News report from Issue No. 55, published on Sept. 6 2011)

Armenia-Turkey detente drifts away

AUG. 27 2011 (The Conway Bulletin) – It may have been a formality but it was a symbolically significant one. On Aug. 22 2011, Turkey’s new parliament nullified 898 draft laws the previous parliament had failed to ratify. Among these were two on improving relations with Armenia.

Both these draft laws had languished in Turkey’s parliament since Armenian President Serzh Sargsyan and Turkish President Abdullah Gul shook hands in Zurich in Oct. 2009 and pledged that after years of animosity the neighbours would finally make up.

Officially scrapped now, the draft laws have little chance in the short term of making their way back on to the Turkish Parliament’s agenda. In Armenia, the laws hadn’t even made it that far. So much for the Armenia-Turkey rapprochement, then.

And there had been such high hopes. But, though the countries’ leaders had shaken hands, spoken in public about the need for improved relations and watched football matches together, in reality rapprochement drifted off after only a few months.

The issues are so entrenched. At its heart is an argument over whether the Turkish Ottoman Empire at the end of the World War I committed genocide against Armenians. The Turks say thousands died on both sides of the fighting. The Armenians say Turks killed Armenians systematically.

Turkey is also a natural ally of Azerbaijan which is still officially at war with Armenia over the breakaway enclave of Nagorno-Karabakh.

Always complex, the Armenia-Turkey rapprochement is now also officially off.

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(News report from Issue No. 54, published on Aug. 30 2011)

Kazakhstan’s inflation target to rise

AUG. 12 2011 (The Conway Bulletin) – Kazakhstan’s Central Bank said it might revise upwards its inflation target for 2011 because of high food and energy prices. The Bank had forecast inflation for 2011 between 6% and 8%. Central Asia has been hit hard by inflation and analysts say rising prices for food and utilities could trigger unrest.

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(News report from Issue No. 53, published on Aug. 17 2011)

Uzbekistan’s economy grows 8% in H1

AUG. 10 2011 (The Conway Bulletin) – Uzbekistan’s GDP grew by 8% in the first half of the year compared to the same period in 2010, Reuters quoted state media as saying. The report also said inflation had grown by 3.6% between Jan. and June. Uzbekistan operates a relatively closed economy.

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(News report from Issue No. 52, published on Aug. 10 2011)