EDB Report: Trade Between Central Asia and Persian Gulf States Quadruples in Five Years

Trade between Central Asian countries and the Persian Gulf states has quadrupled over the past five years, reaching $3.3 billion, according to a new report from the Eurasian Development Bank (EDB).

The EDB’s first-ever macroeconomic and financial study of the Persian Gulf region highlights rapidly growing trade, investment, and economic ties between the two regions, The Caspian Post reports via Kyrgyz media.

The report notes that direct investment from Gulf countries into Central Asia has also surged, rising 1.8 times to $16.2 billion.

The Persian Gulf countries - which collectively control around 30 per cent of the world’s oil reserves - remain the largest global exporters of oil and gas, with the sector accounting for 50-90 per cent of their export revenues.

The report also points out that the region’s sovereign wealth funds now exceed $5 trillion, while foreign exchange reserves total $813 billion, giving Gulf states a strong financial buffer to maintain stability even amid oil price fluctuations.