Uzbekistan and Iran intend to expand the agenda of economic cooperation

On December 22 of this year, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov in the format of a video conference held talks with Vice President for Economic Affairs of the Islamic Republic of Iran M. Rezai.

During the talks, the sides discussed the current state and prospects for expanding bilateral economic cooperation. The parties noted that mutual contacts of the Heads of the two states during the recent summit of the Shanghai Cooperation Organization (SCO) and the 15th summit of the Economic Cooperation Organization (ECO) served as an impetus for further intensification of Uzbek-Iranian relations, and also expressed their commitment to joint work to implement the achieved agreements.

Focusing on the field of investment cooperation, the parties emphasized the wide opportunities for the implementation of new projects in the production of building materials, construction, agriculture, fish farming, pharmaceuticals, electrical engineering, chemical and light industries. An agreement was reached on the study and search for partners for the implementation of new promising projects.

Special attention was paid to the area of ​​mutual trade. The positive dynamics of the Uzbek-Iranian trade was noted with satisfaction: in January-November this year, the growth of mutual trade increased by 74.4 percent. An understanding was reached on the need to intensify interaction to strengthen trade relations between the two countries, in connection with which the parties agreed to intensify joint work on the draft Agreement on preferential trade between Uzbekistan and Iran.

They also touched upon the prospects for expanding cooperation in the transport and logistics sector.

They discussed the organization of a number of bilateral events in the near future, including the 14th meeting of the Intergovernmental Commission on Trade, Economic and Scientific and Technical Cooperation, as well as a business forum with the participation of representatives of the business communities of the two countries.

As a result of the negotiations, an agreement was reached on the development and approval of the “Road Map” to expand cooperation between Uzbekistan and Iran in the fields of investment, industry, trade and transport.