Natural gas is the priority area in the development of the energy sector in Uzbekistan. Uzbekistan is the major gas producing country and it has the largest gas processing capacity in the region.
During the 5th parliamentary elections held on November 1, 2015, Azerbaijan determined the deputies for the National Assembly.
In recent years, the economy of Kazakhstan was affected by two major external factors, such as changes in the trade regime associated with the accession to the Eurasian Economic Union (EAEU) and decrease in oil prices. These factors have influenced many aspects of the economy of Kazakhstan.
Presently, Kazakhstan exploits three oil refineries that were constructed during the USSR period: in the Pavlodar, Atyrau and South Kazakhstan regions. The first operating oil refinery plant was constructed in Atyrau in 1945, at the end of the World War II.
As most of the other Central Asian countries, Kyrgyzstan is an energyrich country with a wide range of minerals. However, the main mineral mined in the country is gold, which has made the gold mining industry one of the pillars of the Kyrgyzstan's economy.
Kazakhstan, like the other Eurasian countries, has been hit by large external shocks such as low oil prices and slowdown in Russian and Chinese economies.
Nowadays, maritime routes dominate over the intercontinental freight traffic between Asia and Europe.
The International North-South Transport Corridor (INSTC) project was established in 2000 by Russia, India and Iran with a purpose of creating a corridor shorter than the current maritime Suez Canal transportation route in order to reduce the time and transportation costs of trade in goods.
The V Summit of the Turkic Council was held in Astana on September 11, 2015. The main topic of the Summit included the enhancement and the development of multilateral cooperation, particularly, in the field of “media and information” and other various fields.