Home breadcru News breadcru Policy breadcru Turkmenistan, Uzbekistan agree to raise trade turnover to $1 bn

Turkmenistan, Uzbekistan agree to raise trade turnover to $1 bn

20 Sep '21
1 min read
Pic: Shutterstock
Pic: Shutterstock

Uzbekistan and Turkmenistan recently agreed to raise bilateral trade turnover to $1 billion after the Uzbek-Turkmen intergovernmental commission's meeting in Tashkent, the Uzbek ministry of investments and foreign trade said. They also agreed to accelerate the approval of the draft agreement on the creation and regulation of border trade zone activities.

The talks included a wide range of issues of cooperation in investment, trade and economic, industrial, energy, agricultural, water management, scientific and technical, transport and transit and cultural and humanitarian spheres.

According to a ministry statement, 160 enterprises with the participation of Turkmen capital operate now in Uzbekistan, and the volume of bilateral trade in the first half of this year increased by 20 per cent compared to the same period last year.

"An agreement was reached to intensify the development of new joint projects to create agro-industrial complexes, textile, leather and footwear industries, production of cars, electrical appliances and building materials," the statement said.

The countries have also agreed to increase transport connectivity between the two countries, a phased resumption of air flights, the provision of mutual tariff preferences for transport corridors, and the prospects for using the infrastructure of the Turkmenbashi seaport, a news agency reported.

ALCHEMPro News Desk (DS)

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