Tashkent hosted the 15th Meeting of the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation between the Republic of Uzbekistan and the Islamic Republic of Iran.

The event, co–chaired by the Minister of Investment, Industry and Trade of Uzbekistan, Laziz Kudratov, and the Acting Minister of Industry, Mines and Trade of the Islamic Republic of Iran, Seyyed Mahdi Niazi, was attended by the heads of relevant ministries and agencies of the two countries.

The parties comprehensively considered the current state and prospects for developing mutually beneficial cooperation in investment, trade-economic, transport-logistics, and industrial collaboration. The positive dynamics of trade-economic cooperation were noted. Over the past three years, the volume of mutual trade has almost doubled. Stressing the importance of building ties in this direction, the parties expressed their readiness to increase the volume of joint supplies, including chemical industry products, equipment, construction materials, silk, textiles, electrical engineering, and food products.

During the discussion of plans for developing investment partnerships and industrial cooperation, it was noted that over the past five years, the number of enterprises with Iranian capital in Uzbekistan has tripled and reached 420. Concrete measures have been agreed upon to deepen cooperation in agriculture and food security and to develop cooperation in the cultural-humanitarian sphere.

To ensure the steady growth of trade turnover, the parties agreed to sign a program of practical measures to bring trade turnover to one billion USD per year, accelerate the adoption of the Preferential Trade Agreement, as well as hold exhibitions “Made in Iran” and “Made in Uzbekistan” on a reciprocal basis in both countries. In addition, a Working Group will be created to identify and eliminate barriers to mutual trade.

A roundtable discussion was also held, organized to support Iranian investors working in Uzbekistan and expand direct interaction between representatives of the business circles of the two countries.

Following the meeting, a final protocol was signed to deepen cooperation between Uzbekistan and Iran comprehensively.

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Bekhruz Khudoyberdiyev, photos by Davron Ernazarov, UzA