Uzbekistan and Turkmenistan Sign Trade Agreement Worth $451m

Uzbekistan and Turkmenistan on Thursday signed trade and investment agreements worth $451 million and pledged to boost their cooperation in a wide range of fields by increasing mutual investment opportunities.

The agreement was signed during the first day of Uzbek-Turkmen interregional forum in Bukhara city of Uzbekistan.

Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov and Deputy Prime Minister of Turkmenistan Batyr Atdaev as well as delegations from both sides comprise of heads of ministries, agencies, industry associations, commercial banks, chambers of commerce and industry, heads of local administrations and representatives of business circles from various regions of the two countries attended the forum.

The Uzbek Ministry of Investment and Foreign Trade (MIFT) said that delegates agreed to speed up efforts for a stable growth in trade between the two countries, and they also reaffirmed their commitment to bringing the volume of trade to $2 billion in the near future.

“The participants discussed improving ties in areas of investment, industrial and trade cooperation, agriculture, automotive, chemical, textile, leather and footwear and electrical industries,” MIFT said in a statement.

The two sides also agreed to accelerate the launch of the border trade zones “Lebap – Bukhara” and “Dashoguz – Khorezm”, to further improve bilateral economic ties.


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