On May 15 of the current year, Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, held a meeting with Konstantinos Kombos, Minister of Foreign Affairs of the Republic of Cyprus.

The focus was on the current state of Uzbek-Cypriot relations, as well as facilitating the strengthening of cooperation between business representatives of the two countries.

During the conversation, the positive dynamics of economic interaction were noted. In recent years, there has been an increase in the volume of mutual trade and the number of joint ventures. Both sides expressed mutual readiness to stimulate the expansion of investment partnership and industrial cooperation.

For reference: At the end of 2023, the volume of Uzbek-Cypriot trade turnover increased eightfold. Today, there are 80 enterprises with Cypriot investments operating in Uzbekistan, including 54 with 100 percent Cypriot capital.

As a result of the meeting, the parties confirmed their mutual commitment to deepening trade, economic, and investment cooperation and reached an agreement on developing proposals for further increasing and diversifying mutual trade.