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

On April 22, a meeting was held between Laziz Kudratov, the Minister of Investment, Industry and Trade of the Republic of Uzbekistan, and the Ambassador Extraordinary and Plenipotentiary of the Republic of Turkey to Uzbekistan, H.E. Mr. Ufuk Ulutaş.

During the meeting, both sides expressed satisfaction with the steady growth in bilateral trade, noting that over the past five years, the volume of trade between Uzbekistan and Turkey has increased by 1.4 times. Additionally, the number of enterprises operating in Uzbekistan with Turkish capital has approached 2,000.

Despite these achievements, it was acknowledged that regional cooperation and the economic potential of both countries remain underutilized, presenting significant opportunities for further development of trade, economic, and investment collaboration.

In this regard, the parties agreed to undertake joint measures, with a priority on expanding the list of goods covered under the preferential trade agreement between the two countries. They also reached an agreement on signing a mutual recognition arrangement in the field of conformity assessment, with the goal of increasing bilateral trade volume to USD 5 billion in the coming years.

Ambassador Ulutaş commended the ongoing reforms in Uzbekistan, reaffirming Turkey’s consistent position that the country offers unique conditions and opportunities for investors. He expressed full readiness to mobilize all available resources to strengthen investment cooperation and attract Turkish businesses to Uzbekistan.

At the conclusion of the meeting, the two sides identified specific areas for the further development of a comprehensive strategic partnership. A mechanism for direct interaction was established to facilitate joint efforts, ensure thorough preparation for upcoming high-level visits to Uzbekistan, and promptly address any emerging issues.