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

On July 17 of this year, Laziz Kudratov, Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, participated in the Uzbek-Kyrgyz Business Forum held in Tashkent. The delegations included heads of ministries, departments, industry associations, regional administrations, and over 350 representatives from the business communities of both countries.

In his opening remarks, Jamshid Khojayev, Deputy Prime Minister of the Republic of Uzbekistan, emphasized the consistent growth of multifaceted Uzbek-Kyrgyz relations, which has been made possible by a trusting dialogue between the heads of the two states.

The volume of mutual trade turnover has increased, reaching $1 billion last year. To ensure further growth in trade, it was emphasized that measures should be taken to increase mutual supplies of finished textiles, food, plastics, shoes, IT services, fertilizers, building materials, household appliances, pharmaceuticals, cattle, small livestock, coal, and other demanded goods.

In recent years, cooperation in the field of investment and industrial cooperation has intensified. Currently, there are about 280 enterprises with Kyrgyz capital operating in Uzbekistan. The Uzbek-Kyrgyz Development Fund, with a portfolio of 33 investment projects worth $186 million, plays a significant role in implementing joint initiatives.

Various measures have been announced in Uzbekistan to create conditions for the development of entrepreneurial activity, including the liberalization of legislation, tax and customs privileges, and preferences created in all regions of the country through 25 free economic zones.

The importance of deepening interregional cooperation, which drives the growth of small and medium-sized businesses, was emphasized. This includes the creation of joint ventures in border areas for the production of household appliances, medicines, furniture, building materials, and leather goods. In this context, it is proposed to establish the practice of mutual visits by regional delegations, organizing forums, exhibitions, round tables, B2B meetings, as well as cultural and humanitarian events.

Bakit Torobayev, the Deputy Chairman of the Cabinet of Ministers, Minister of Water Resources, Agriculture, and Processing Industry of the Kyrgyz Republic also highly appreciated the steady growth of trade turnover and investment cooperation between the two countries. He stressed the importance of implementing joint projects in the field of transport and logistics, energy, and revitalizing trade missions. The speaker noted the positive experience of interaction between entrepreneurs of the two countries and called on the business community to expand partnerships and boldly implement joint mutually beneficial initiatives.

B2B and G2B negotiations took place on the sidelines of the forum, allowing entrepreneurs to establish new and useful connections and discuss specific aspects of implementing new projects.

As a result of the forum, 20 agreements, memoranda, and trade contracts were signed in the fields of food production, construction materials, the creation of a logistics center, waste recycling, exploration and coal supplies, as well as IT services and supplies of electrical and agricultural products.