Tehran hosted the 14th meeting of the Intergovernmental Commission (IGC) between the Republic of Uzbekistan and the Islamic Republic of Iran on trade, economic, scientific and technical cooperation.

The meeting, which was attended by the heads of key ministries and agencies of the two countries, was co-chaired by Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov and Minister of Industry, Mine and Trade of the Islamic Republic of Iran Reza Fatemi Amin.

According to the Ministry of Investments and Foreign Trade, at the meeting, the issues of developing mutually beneficial cooperation in the investment, trade, economic, transport and logistics, cultural and humanitarian spheres were comprehensively considered, further steps were identified to strengthen bilateral ties in these areas.

The parties agreed to accelerate the coordination of a draft agreement on preferential trade to reach its signing as soon as possible, as well as to develop new mutually beneficial mechanisms for increasing the volume of mutual trade. 

A constructive exchange of views took place on the prospects for further development of cooperation in transport and transit. An agreement was reached to establish a joint subcommittee on transport and logistics, whose tasks will be to develop and study promising proposals for strengthening transport links between Uzbekistan, Iran and the countries of the region, search for new profitable trade routes and increase the efficiency of using the transport and transit potential of the two states. 

In addition, issues of deepening industrial cooperation and increasing the number of joint investment projects in priority sectors, including the chemical, light, electrical, food, pharmaceutical, metallurgical, engineering industries, production of building materials, water-saving technologies and the agro-industrial sector, were discussed.

Following the meeting, the IGC co-chairs agreed to develop and sign a joint roadmap, summarizing all the bilateral agreements reached during the talks, aimed at comprehensively deepening cooperation. An agreement was signed on the establishment of a joint investment committee on the IGC platform.

UzA