Pursuing Multi-Vectorism Through Business Diplomacy: The Path for Central Asia

The events of the last two years, with major geopolitical upheavals, have posed a serious challenge for the countries of Central Asia –– Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. These states have skillfully maneuvered the changing political landscape, adhering to a balanced foreign policy. They have adeptly avoided making unequivocal alliances with any sides and focused on economic cooperation.

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March 17, 2024

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This strategy has helped them to successfully diversify trade connections, cultivate diversified foreign investments, avoid significant sanctions, and thereby strengthen the economic resilience of the region. At the same time, the war in Ukraine, which caused an escalation of the confrontation between Western countries and Russia, has forced the key power centers to also reconsider their attitudes toward the Central Asian countries. The latter must balance a genuine interest in developing their ties with the Western world while being surrounded by Iran, Afghanistan, China, and Russia, countries with which the West has strained and even tense relations. The region, previously the theater of the Great Game in the confrontation of superpowers, is now trying to become an opportunity zone. This article attempts to highlight the most important events that have occurred in the region in recent years, providing cautious optimism about the future. It will examine the encouraging investment potential of the region against the backdrop of increasing geopolitical tensions. Additionally, it will offer hypotheses and policy recommendations.

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Pursuing Multi-Vectorism Through Business Diplomacy: The Path for Central Asia

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