Deputy Prime Minister – Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov has met with the Minister of Economy of the United Arab Emirates Abdulla bin Touq Al Marri.

According to Uzbekistan MIFT, the current state and prospects for enhancing cooperation in the investment and trade-economic spheres were discussed at the meeting.

It was noted that over the past two years, significant results have been achieved in increasing the portfolio of joint investment projects – at the moment, 15 projects worth about $5 billion are being implemented with Emirati partners.

The significant untapped investment potential in several sectors, such as agriculture, mining, textile and jewelry industries and other areas, was also emphasized. The parties also considered opportunities for attracting Emirati investors to participate in the state privatization program being implemented in Uzbekistan.

An agreement was reached to establish direct cooperation between the Ministry of Food and Water Security of the UAE and the Ministry of Agriculture of Uzbekistan to explore the possibilities of implementing joint programs and projects in the agriculture and food industry.

Mechanisms for increasing the trade turnover between Uzbekistan and the UAE were discussed. The prerequisites for expanding the geography of deliveries of Uzbekistan-made products to the markets of the Persian Gulf countries were also noted.

Following the meeting, the parties agreed to continue practical cooperation and maintain close contacts for prompt discussion and resolution of existing issues.

UzA