As part of the visit to Uzbekistan of business representatives led by the President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh, Tashkent hosted the Uzbekistan – Iran Business Forum.

The event, organized by the Ministry of Foreign Affairs jointly with the Embassy of Uzbekistan in Tehran, the Chamber of Commerce and Industry, the Tashkent City Hokimiyat, and the Iranian side, was attended by the Chairman of the Chamber of Commerce and Industry of Uzbekistan Davron Vakhobov, the ICCIMA President Samad Hassanzadeh, heads of relevant ministries and agencies, industry associations, as well as over 200 representatives of the business circles of the two countries.

The parties discussed promising projects in industry, innovation, agriculture and water management, food, fish farming, building materials production, medicine and pharmaceuticals, textiles, logistics, and engineering.

“We are confident that this event will open an even broader path to strengthening trade and economic relations between our countries”, Davron Vakhobov said. “We call on business representatives to take advantage of the opportunities created and actively participate in B2B meetings”.

Strengthening relations between business circles is a decisive factor in increasing the scale of mutual investment, trade, and economic cooperation. In this sense, it is natural that this issue has become the main issue on the agenda of the business forum.

Samad Hassanzadeh emphasized that thanks to the wise policy and high-level visits of the leaders of the two countries, the trade and industrial sectors are developing rapidly, and a healthy, competitive business environment is being formed. He acknowledged that the major projects being implemented result from successful cooperation between our entrepreneurs.

“Uzbekistan and Iran are fraternal countries that not only strengthen economic and cultural partnership, but are also linked by centuries-old common history and culture”, Samad Hassanzadeh said. “In a relatively short period, the relationship has acquired a completely new form. The results are also clearly evident in the increase in mutual trade volumes”.

It was noted that in 2023, the volume of mutual trade amounted to 503.4 million dollars, export volumes to 180.6, and imports to 322 million dollars. Currently, there are 268 enterprises with Iranian investments operating in Uzbekistan. More than 120 of them are joint ventures, and 147 are foreign.

As part of the event, a presentation of the investment potential of Uzbekistan, projects implemented in priority sectors was held. Reports were heard from representatives of the Agency for Attracting Foreign Investments and the Uzbekistan Textile and Garment Industry Association.

Following the forum, B2B meetings were held between representatives of the Iranian business community and businesspeople of the city of Tashkent.

Bekhruz Khudoyberdiyev, UzA