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Uzbekistan and Iran open up new prospects for mutually beneficial cooperation

In Tehran, a meeting was held between the Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov, who arrived in the country as part of a visit by a delegation of government and business circles, with the President of the Islamic Republic of Iran Seyyed Ibrahim Raisi.

An exchange of views took place on a wide range of areas of Uzbek-Iranian cooperation with a focus on issues of trade, economic, investment, transport and logistics, cultural and humanitarian cooperation.

The existing prerequisites for increasing bilateral trade were noted. The parties expressed confidence in the availability of the potential and the necessary resources for a multiple increases in the volume of mutual trade in the near future and confirmed their mutual readiness to implement specific practical measures in this direction.

No less broad prospects, in the opinion of the parties, are available in the field of investment cooperation. This is evidenced by the steadily growing number of projects implemented jointly with Iranian investors, as well as the growing interest of Iranian business circles in the market and economic resources of Uzbekistan. It was announced that within the framework of the upcoming 14th meeting of the Uzbek-Iranian Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation, it is planned to sign agreements on the implementation of a number of new investments projects, which was welcomed by both parties during the negotiations.

Tasks were set to deepen industrial cooperation between entrepreneurs of Uzbekistan and Iran. The priority areas for partnership in this area were the agro-industrial sector, water resources management, production of building materials, ferrous metallurgy, mechanical engineering, light industry and medicine. The prospects of establishing industrial cooperation between the subjects of special economic zones, in particular, between the FEZ “Chabahar”, “Aras” (Iran) and the FEZ “Navoi” and “Angren” (Uzbekistan) were also emphasized. An agreement was reached on joint work on the preparation and approval of specific investment projects in the above sectors and the identification of their initiators from among the interested entrepreneurs of the two countries.

The parties welcomed the success achieved in bilateral negotiations held between the relevant ministries and departments of the two countries in the field of transport and logistics. Thus, during the visit of the interdepartmental delegation of Uzbekistan to Iran, which took place in January of this year, agreements were reached and a number of important agreements on cooperation in the direction of developing transport corridors and increasing the transit of goods through the territories of the two states were signed.

The parties noted the priority of continuing consistent and effective joint work in this direction in order to form new, more profitable trade routes connecting the two states and countries of the region, as well as to increase the efficiency of using the transport and transit potential of both countries.

In addition, the agenda of the talks included measures of bilateral cooperation within the framework of the participation of the two countries in international organizations, cooperation to ensure regional security, economic development and strengthening of transport links between the countries of the region, as well as issues related to the implementation of joint projects of regional importance.

Following the meeting, the parties expressed mutual commitment to the implementation of the agreements reached and an active dialogue aimed at deepening mutually beneficial cooperation between the two states.