Nazarbayev University and HKUST Convene Inaugural Silk Road Empirical Trade Conference in Astana

Nazarbayev University Graduate School of Business (NUGSB), HKUST Business School, and Georgia Tech's Forum for Research in Empirical International Trade hosted the inaugural Silk Road Empirical Trade Conference on August 28–29 at Nazarbayev University, bringing together leading researchers in international trade and investment from universities and research institutions across Europe, Asia and North America.

The conference was held as part of the NUGSB–HKUST Forum on Global Transformation of Value Creation, a three-day academic forum exploring how technological, economic and geopolitical developments are transforming the way value is created and exchanged globally.

By hosting the event, Nazarbayev University and HKUST joined the short list of universities committed to organizing conferences within the network of the Forum for Research in Empirical International Trade (FREIT). Since 1994, FREIT has been the leading global organization with a focused mission of promoting data-driven research in international trade among researchers at every stage of their careers.

From the historic Silk Road to today’s global economy, Astana served as a meeting point for an international community of economists examining how trade, investment, technology and geopolitical developments are reshaping global value creation.

Over two days, select researchers presented 12 papers on a broad range of topics in empirical international trade and investment. The programme combined research presentations with discussant remarks and open discussion, creating opportunities for scholars to exchange perspectives, challenge findings and develop new research connections.

The research presented at the conference addressed issues including technology transfer and idea diffusion, China’s Belt and Road Initiative, the regulation of digital services trade, Chinese industrial policy, the economic impact of sanctions, and the relationship between foreign demand and domestic production quality.

The conference brought together researchers affiliated with leading institutions across Europe, Asia and North America. Participants and discussants represented institutions including HKUST and Fudan University in China; KU Leuven in Belgium; Institut Polytechnique de Paris and Université Paris Dauphine–PSL in France; Aarhus University in Denmark; LMU Munich and the ifo Institute in Germany; the European University Institute and LUMSA in Italy; the University of Bath in the United Kingdom; Georgia Tech, the Federal Reserve Bank of Chicago and the University of Colorado in the United States; and Nazarbayev University in Kazakhstan.

A keynote lecture was delivered by Professor Wolfgang Keller of HKUST and the University of Colorado, who presented The Economic Consequences of the Opium War, examining the implications of one of the defining conflicts in the history of international trade.

The conference was preceded by a workshop on August 27 that brought together researchers and experts from Central Asia to discuss questions of economic policy and international business. The workshop featured four papers by invited presenters from New Uzbekistan University, NUGSB, Özyeğin Graduate School of Business and NAC Analytica, highlighting the importance of strengthening research capacity and creating opportunities for scholars and experts from the region to engage with the international academic community. The programme also included a panel discussion on artificial intelligence and the Belt and Road Initiative, bringing together perspectives from academia, policy and business and further broadening the discussion around the forces reshaping global trade and value creation. The panel brought together experts from leading academic institutions, economic research and policy organizations, and the transport and logistics sector, offering perspectives that connected academic research with policy and business practice.

The conference also highlighted the growing academic partnership between Nazarbayev University and HKUST.
Speaking during the Forum, Nazarbayev University President Waqar Ahmad emphasized the wider significance of the relationship between the two institutions:

President Ahmad also highlighted the breadth of the two institutions’ shared academic interests, noting:

The partnership is developing through both research and educational initiatives. Professor David Cook of HKUST highlighted the importance of strengthening faculty-to-faculty connections through joint research activities and conferences:

The conference coincided with the launch of what Professor Cook described as “a new and most important partnership” between the two business schools: the joint dual-degree Bachelor of Business Administration in Eurasian Business. The programme creates new opportunities for students to study across the two institutions while strengthening connections between their faculty and research communities.

The collaboration is also expected to extend beyond the two business schools. Nazarbayev University and HKUST are exploring further opportunities for cooperation in research and other academic areas, building on the institutions’ shared strengths in fields including business, engineering, artificial intelligence, etc.

The growing relationship will also create opportunities for international executive education. In September, NUGSB will host an international residency for participants of the Kellogg–HKUST Executive MBA programme, providing another opportunity for international executives to engage with Kazakhstan and the Nazarbayev University community.

The inaugural Silk Road Empirical Trade Conference marks a new platform for international academic exchange in Astana, connecting Kazakhstan with a global research community focused on the forces shaping trade, investment and value creation. As part of the NUGSB–HKUST Forum, the conference also advances a broader commitment to strengthening academic networks and fostering collaborative research across institutions and regions.

As President Waqar Ahmad noted, “We have every reason to expect that this partnership will flourish in the months and years to come.”