Raşit Kuşkaya and Daniel Zaretsky are experienced, expert and trusted resources, along with being Global Chamber advisors. This week they each shared their knowledge and advice regarding opportunities in Turkiye and Uzbekistan. We invite you to learn more by watching the recorded globinars.
Raşit Kuşkaya on Turkiye here,
Daniel Zaretsky on Uzbekistan and Central Asia here.
Our next conversation about Turkiye is coming up in May - watch for more details.
We'll have conversations about both countries and the region more and more, as we build our Global Chamber AND as opportunities continue to increase. The growth for both is fantastic!!
Regardingt Uzbekistan and Central Asia, in his most recent globinar, Daniel highlighted the country's strategic location, high literacy rates, abundance of critical raw materials, and improving relations with neighboring countries as key factors making Uzbekistan an attractive destination for regional business headquarters and investments. He also discussed the growing cooperation and trade among Central Asian countries, the potential for investment from China and the Gulf region, and the openness and friendliness of the people in Central Asia. Daniel also discussed the potential for franchises in Uzbekistan, the concept of offsets in international sales contracts, and the religious diversity in the region, with Daniel offering to connect with interested parties for business expansion.
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Uzbekistan: Strategic Business Hub |
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Daniel Zaretsky explained that Uzbekistan, with an unofficial population of 40 million, is now the second-largest country by population in the former Soviet Union. Tashkent, the capital, is the third-largest city in the region and is expanding with the construction of a new modern city nearby. Daniel highlights the country's strategic location, high literacy rates, abundance of critical raw materials, and improving relations with neighboring countries as key factors making Uzbekistan an attractive destination for regional business headquarters and investments. |
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Central Asian Trade and Investment |
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Daniel discussed the growing cooperation and trade among Central Asian countries, including the development of new transport corridors and border crossings. He highlighted the importance of the middle corridor connecting China to Central Asia and the potential for increased trade and investment in the region. Daniel also mentioned the ease of travel and visa requirements for the area, emphasizing the safety of the region. He noted that Uzbekistan is a key node in the region's trade and logistics, and that the country is working to move up the value chain in manufacturing. He mentioned the need for technology and investment in agriculture and industry, particularly in the areas of cotton monoculture and hydropower, and he emphasized the potential for investment from China and the Gulf region. |
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Central Asia's Untapped Tech Market |
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Daniel discussed the recent EU-Central Asia Summit and the growing interest in American and other countries' technology and investment in the region. He highlighted the openness and friendliness of the people in Central Asia, particularly the youth bulge who are eager for education and training. Daniel also mentioned the influx of Russian professionals fleeing the war with Ukraine, which has boosted sectors like HR and psychology. He emphasized the potential for outsourcing and the burgeoning startup community in Uzbekistan, and encouraged the team to consider investing in this relatively untapped market. |
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Uzbekistan Franchise Opportunities and More Projects |
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Daniel discussed the potential for franchises in Uzbekistan, noting that while some American brands are present, there is still room for growth. He highlighted the country's growing economy, youth population, and need for infrastructure and logistics. Daniel also mentioned his work with a firm based in Dubai on various projects including franchising, education and training, and import/export. He emphasized the need for potential investors, both local and foreign, for these projects. |
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Exploring Uzbekistan's Franchising and Investment Potential |
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Doug and Daniel discussed the potential of Uzbekistan as a market for international franchising, with Daniel sharing his research and insights. Dimitra and Davron, who have connections to Uzbekistan, also shared their experiences and perspectives. Doug encouraged the team to ask questions and explore opportunities in the market. John Williams asked about the possibility of an offset policy in Uzbekistan to increase industrial capability and attract foreign investment. |
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Offsets in International Sales Contracts |
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John explained the concept of offsets in international sales contracts, where foreign companies agree to invest back into the country they're selling to. This will be a separate follow-up between Daniel and John. |
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Korean Presence in Russian Far East |
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Doug and Daniel discussed the presence of Koreans in the Russian Far East during Stalin's time, and how they were sent there as a result of Stalin's policies. Daniel also mentioned the close relationship between Turkey and the region due to shared religion and culture. He highlighted the religious diversity in the region, including Sunni Islam, Buddhism, Hinduism, Manicheanism, Christianity, and Judaism. Daniel also noted the potential for tourism and hospitality development in the region, with only 15,000 tourists from the US visiting annually. |
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Turkey and Uzbekistan Expansion Opportunities |
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Doug and Daniel discussed the potential of Turkey and Uzbekistan as regions for business expansion. Daniel, who is on the ground in the area, shared his insights and offered to connect with interested parties. Doug mentioned upcoming events, including a meeting in Istanbul and a program for young global leaders. He also highlighted a previous event on global marketing, which he recommended watching for valuable insights. Our conversation on Turkiye followed the next day. Background on the globinar covering Uzbekistan and Central Asia opportunities here. Background on the globinar covering Turkiye here.
Speakers: RAŞIT KUŞKAYA - Founder of TURNKEY B2B Global Advisor at Global Chamber Istanbul + Turkiye
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