Central Asia has become a hub of economic activity in recent years, where new markets are emerging, international ties are strengthening, and small and medium-sized businesses are actively developing. According to World Bank data, in 2023, the total GDP of Central Asian countries exceeded $397 billion, with an average regional economic growth rate of 4.5%. Business associations such as The International Business Leaders Association (IBLA) play a significant role in these processes, fostering the consolidation of entrepreneurs, investors, and top managers, thus creating a favorable environment for business interaction.
Small and medium-sized businesses (SMEs) have become an essential driver of growth in Central Asia, accounting for more than 50% of employment in the region. This is evidenced by success stories of entrepreneurs who have expanded their businesses beyond their home countries through collaboration within IBLA. For example, a Kazakh company specializing in agricultural technologies formed a partnership with Uzbek agribusinesses, enabling increased exports of innovative solutions and attracting international investors. Such cases demonstrate how regional economic connections strengthen the market.
Business associations like IBLA do not merely bring entrepreneurs together—they carefully select participants who can make a significant contribution to regional economic development. Their ranks include both successful company founders and top managers of large corporations, whose expertise in strategic management and international partnerships has a profound impact on regional business growth. This combination allows young entrepreneurs to learn from established leaders, fostering the creation of sustainable business initiatives.
Expanding economic ties between the countries in the region is one of IBLA’s key priorities. The association organizes international business forums, educational programs, and advisory sessions that help companies enter new markets and establish reliable partnerships. For example, Kyrgyz textile manufacturers were able to connect with representatives of the fashion industry in Kazakhstan, leading to joint projects and increased production volumes.
Amanzhol Rysmendiev, a resident of IBLA, notes:
“It is a great honor for me that IBLA invited me to become their resident. This is not just a new stage in my career but also a global opportunity to develop business relations for my fellow Kazakhs, contributing to strengthening partnership ties in Central Asia. Within the association, I can not only expand my own opportunities but also help young entrepreneurs enter the international market.”
The creation of such organizations significantly expands opportunities for entrepreneurs, allowing them to go beyond national borders and build strong business relationships. As a result, Central Asia is transforming into a dynamic economic region, open to international cooperation and innovation. IBLA plays a crucial role in this process, providing a platform for professional growth and the strengthening of business connections.