On February 27 of this year, negotiations were held in the VKS format between the Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov and the Minister of Investments of the Kingdom of Saudi Arabia Khalid al-Falih.
During the meeting, topical issues of bilateral investment and trade and economic cooperation, as well as the implementation of the agreements reached following the visit of the government delegation of the Republic of Uzbekistan to Saudi Arabia, held in May last year, were substantively considered.
Particular attention was paid to the opportunities for attracting additional Saudi investment in the energy sector and the development of energy infrastructure. A special role in this direction was noted for the Saudi company ACWA POWER, which is already implementing projects in Uzbekistan totaling about $3 billion.
The Saudi side expressed its readiness for close cooperation in attracting investments for the implementation of additional projects in the fields of agriculture, chemistry and petrochemistry, as well as metallurgy in Uzbekistan.
An agreement was reached to organize a meeting of the IGC this year, a joint meeting of the Business Council between the business circles of both countries, as well as an exhibition of Uzbek domestic products “Made in Uzbekistan” in the cities of Riyadh and Jeddah.
The issues of increasing mutual tourist flow through the establishment of regular direct passenger flights between the two countries were touched upon.
As a result of the event, practical actions were agreed on to further deepen cooperation in priority sectors.
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