On February 7 of this year, Tashkent hosted a series of events aimed at enhancing Uzbek-Mongolian trade, economic, and investment cooperation.

The agenda was preceded by a bilateral meeting between the heads of delegations from the two countries: Deputy Prime Minister Zhamshid Khodjaev representing the Republic of Uzbekistan and Vice Prime Minister Saynbuyangiyn Amarsayxan, a member of the Great State Khural and the Government, representing Mongolia.

During the meeting, the current state and future prospects of partnership relations between the two countries were discussed in detail. Target benchmarks for mutual trade, investment attraction, and industrial cooperation were also highlighted.

In particular, the trade turnover between Uzbekistan and Mongolia increased by nearly 50% last year, and this positive trend has remained consistently strong in the current year.

A substantial increase in the supply of passenger cars, food products, and electrical equipment has been observed.

Mongolian companies are currently undertaking projects in the fields of cattle breeding, geology, finance, and medicine in various regions of Uzbekistan.

Having identified priority areas for further collaboration, the parties continued their work during the first session of the Intergovernmental Commission between the Republic of Uzbekistan and Mongolia, focusing on the development of trade, economic, and scientific-technical cooperation.

The meeting received reports from the leaders of relevant ministries, agencies, and industry associations tasked with implementing existing agreements. Each stage of the projects was analyzed in detail, effective solutions were developed to expedite their successful execution, deadlines were established, and responsible individuals were designated.

The day's agenda continued with a business forum and the inaugural meeting of the business council, featuring the participation of over 150 leaders from major companies in both countries.

In particular, the Mongolian delegation included the leaders of Dornod Meat Market, Sodon Oil Trade, IATA, MONGOL BAZALT, Tsaramtainarvai, Ikh Dodizul Energy, Azipharma, Jargalant, Kapitron Bank, Mandal Insurance, and other companies.

In his opening speech, Deputy Prime Minister Zhamshid Khodjaev emphasized the importance of enhancing collaboration among business sectors and achieving a significant increase in trade relations. This should be based on a thorough analysis of regional market potential and transportation and logistics capabilities.

During the business forum, the potential of Uzbekistan's regions and economic sectors was showcased, along with specific investment initiatives and projects aimed at developing mining, agriculture, tourism, energy, and other industries.

The conditions established in Uzbekistan to facilitate the comfortable operation of entrepreneurs, safeguard their rights and interests, and highlight the key aspects of the country's investment and industrial potential were also presented.

Within the framework of the program, B2B and B2G meetings were organized, allowing entrepreneurs to establish valuable connections, discuss the specifics of collaboratively implementing mutually beneficial projects, and negotiate trade agreements.

As a result, the protocol from the first meeting of the Uzbek-Mongolian Intergovernmental Joint Commission was signed, along with several bilateral agreements, including one in the field of education between Tashkent State Agrarian University and the Mongolian University of Life Sciences.