Recently, amidst the sustained economic growth and accelerating infrastructure development in Central Asia, the demand for engineering tires has experienced an explosive surge. Against this backdrop, our company, leveraging its exceptional product quality and superior customer service, has secured repeat orders from numerous established clients, further cementing our leading position in the Central Asian engineering tire market.
According to the latest trade data, the Central Asian economies are demonstrating robust growth. Kazakhstan, the economic engine of the region, achieved a 5.1% GDP growth rate in 2023, with industrial production up 4.3% and investment surging 13.7%. Uzbekistan also posted impressive economic growth, with a GDP growth rate of 6%, and significant increases in industries, agriculture, forestry, fisheries, and retail trade. This economic boom has directly fueled the prosperity of infrastructure construction, transportation, and industrial production, thereby increasing the demand for various types of engineering vehicles and, consequently, driving the booming engineering tire market.
In this context, our company seized the market opportunity, utilizing our outstanding product quality and superior customer service to win repeat orders from multiple established clients. These clients include renowned construction companies, logistics firms, and mining enterprises in Central Asia, who have highly praised our engineering tire products and expressed their intention to maintain long-term partnerships with us.
Specifically, the number of engineering tires exported by our company to Central Asia has surged significantly this quarter. Notably, some established clients have placed repeat orders multiple times, further demonstrating the competitiveness of our products in the market. For instance, a well-known Central Asian construction company has purchased thousands of engineering tires from us this quarter for several large-scale infrastructure projects it is currently undertaking. The company's leader stated that our engineering tires are reliable in quality and excellent in performance, effectively enhancing construction efficiency and reducing operational costs.
