Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

On June 6 this year, during the official visit of the President of the Republic of Uzbekistan, Sh. Mirziyoyev, to the Republic of Türkiye, Laziz Kudratov, Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, held a meeting with Ömer Bolat, Minister of Trade of Türkiye.

During the meeting, current issues of bilateral trade and economic cooperation were discussed, as well as measures to further support Uzbekistan in the process of accession to the World Trade Organization, and prospects for increasing investment interaction in priority sectors of the economy.

The dynamic development of Uzbek-Turkish interaction was emphasized. For instance, over the past five years, the volume of bilateral trade has increased by 1.3 times, reaching $3.1 billion in 2023. Nevertheless, both countries possess enormous potential for increasing trade turnover. In this context, measures such as expanding the range of goods, harmonizing and mutually recognizing standards, and effective tariff and non-tariff regulation were outlined. Readiness was expressed to continue providing comprehensive support for Uzbekistan's accession to the World Trade Organization.

Special attention was given to issues of diversifying transport corridors, increasing the volume of cargo transportation, optimizing prices, simplifying transit processes, and developing transport infrastructure.

Investment cooperation is actively developing. Over the past three years, the number of joint ventures has doubled to 1,900 units. The volume of investments has grown by 2.5 times. An agreement was reached to expand the participation of Turkish companies in privatization programs and the implementation of projects based on public-private partnership principles.

Following the meeting, both parties confirmed their commitment to further strengthening bilateral cooperation and developed a format for interaction to expedite the implementation of the discussed projects and initiatives.