Abstract
It is recognized in the economic literature that foreign direct investment (FDI) has many potential impactson countries. These include; FDI’s capital, production and management knowledge will bring newtechnologies, increase competitiveness and productivity in the national industry, increase the amountof low-cost and high-quality products, facilitate trade in goods and services, positively affect exportperformance, accelerate economic growth and positively contribute to employment. It can be deemedto contribute. For this reason, countries try to attract investment from foreign countries by improvingthe investment climate in order to benefit from foreign direct investments. In this context, Central Asiancountries (Kazakhstan, Kyrgyz Republic, Turkmenistan, Tajikistan and Uzbekistan) have started to implementvarious reforms and incentive policies to attract foreign capital after gaining their independence.The main purpose of this study is to investigate the effect of foreign direct investments directed towardsCentral Asian countries on exports, with reference to the effects of foreign direct investments on internationaltrade. For this purpose, it has been tested with the panel data method using the quarter data of theCentral Asian countries for the period 2000-2019. The study is expected to contribute to the economicsliterature on Central Asian countries.Key words: foreign direct investment, Central Asian countries, exports, panel data analysis.