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Uzbekistan-Turkey: boosting bilateral trade is a key priority

Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev met with the Minister of Trade of the Republic of Turkey Mehmet Mus.

During the meeting, the parties exchanged views on the development of bilateral cooperation with a focus on enhancing mutual trade.

It was noted that over the past five years, the volume of mutual trade has doubled and reached $3.4 billion in 2021. Mutual readiness was expressed to continue joint work in this direction with the aim of bringing the volume of the Uzbek-Turkish trade to $5 billion in 2023 and $10 billion in the foreseeable future.

In this vein, the parties agreed to speed up the process of agreeing on the Preferential Trade Agreement with a view to reaching its ratification in the near future. Further steps are also outlined to eliminate trade barriers, simplify customs procedures in the implementation of trade operations and introduce digital solutions in this area.

The participants of the meeting paid special attention to the issues of deepening cooperation in the transport and logistics sector. Given the positive dynamics of road and air transportation between the two countries, the parties spoke in favour of implementing practical measures to develop transport infrastructure and increase the volume of direct and transit cargo transportation between the two states.

As a result of the meeting, the parties outlined further steps for the practical implementation of the voiced initiatives and determined the format of interaction in all the areas considered.


Source: mift.uz