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16.08.2018 23:24

Mutually beneficial agreements are reached at Uzbekistan – Tajikistan business forum

Mutually beneficial agreements are reached at Uzbekistan – Tajikistan business forum
On August 16, Tashkent hosted Uzbekistan – Tajikistan business forum.

It was attended by more than 400 representatives of ministries, companies of the two countries operating in the sphere of trade, industry, economy, tourism, electricity, construction, chemical industry, mechanical engineering, metallurgy, automotive industry, electrical engineering, transport and logistics, agriculture, food, textile and light industry, pharmaceuticals, banking-financial sector.

Deputy Prime Minister of the Republic of Uzbekistan N.Otajonov, Chairman of the State Committee on Investments and State Property Management of the Republic of Tajikistan F.Khamralizoda and others noted that as a result of agreements reached during the negotiations of heads of two states, trade-economic, investment cooperation between Uzbekistan and Tajikistan has risen to a new level.

It should be noted that the purpose of such meetings and negotiations is to strengthen cooperation between entrepreneurs of the two countries, a significant increase in trade through full use of transport-communication, trade-economic potential, access to the markets of the third countries through production of industrial goods within the framework of joint projects.

Guests were provided with detailed information on simplification of production in Uzbekistan, products, further development of pharmaceutical industry, free and small industrial zones, tax benefits and other facilities for investors, a presentation of existing economic opportunities was held. Representatives of construction, tourism, transport-logistics sectors of Tajikistan became familiar with potential of Uzbekistan in these areas.

Trade and economic cooperation between Uzbekistan and Tajikistan is developing at a new pace. In the first half of 2018, the trade turnover increased by 35 percent. Cars, trucks, agricultural machinery, metallurgical, electrical products, construction materials, food and textile products are exported from Uzbekistan to Tajikistan, cement, aluminum and construction materials are imported from Tajikistan to Uzbekistan.

As it was noted at the event, although there is a significant growth in cooperation in trade and economic, investment spheres, it does not fully correspond to existing opportunities. Therefore, it is planned to increase trade turnover between the two countries up to 500 million US dollars by 2020. There are all necessary opportunities for this. Geographical location of the two countries, agreements on mutual protection of investments, cooperation on simplification of tax duties, common borders, free trade rules, common transport-communication, transit-logistics capabilities of the states of the region are among them.

Contracts worth 103.3 million US dollars were signed during the business forum in such areas as financial cooperation, transit, electronics, pharmaceuticals, export and import of confectionery products.

B2B meeting of entrepreneurs was also held. Following the negotiations, agreements were reached providing for implementation of joint investment projects and signing of mutually beneficial agreements.

On the same day, representatives of business circles of Tajikistan visited a number of such enterprises in Tashkent as Artel, Gold Dried Fruits Export, Uztex Tashkent and got acquainted with their technological process. Bilateral meetings were held to establish long-term cooperation.

Ulugbek Shonazarov, UzA
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