Trade Between Uzbekistan and Turkey to Double
2025-05-16 17:00:00 / News
On May 15, 2025, the 8th meeting of the Intergovernmental Commission on Economic Cooperation between the Republic of Uzbekistan and the Republic of Turkey was held in Tashkent. The event marked an important step in the development of strategic partnership and the expansion of practical cooperation between the two countries.
Within the framework of the meeting, a business forum and roundtable discussion took place with the participation of around 200 representatives from the business circles of both Uzbekistan and Turkey.
The delegations were led by Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan, Jamshid Kuchkarov, and Vice President of the Republic of Turkey, Cevdet Yılmaz.
The main focus of the meeting was to strengthen trade, economic, and investment ties, define new areas for growth in cooperation, and practically implement previously achieved agreements.
For reference: Over the past five years, the number of joint ventures with Turkish capital in Uzbekistan has increased fourfold, reaching 1,942. In 2025 alone, 120 new Turkish companies were registered.
During the meeting, extensive negotiations were held on areas such as healthcare, agriculture, energy, banking and finance, transport, tourism, education, science, and digitalization.
An agreement was reached to gradually increase the bilateral trade volume to 5 billion dollars in the short term and to 10 billion dollars in the medium term. To achieve this, measures were agreed upon to expand the list of goods covered by preferential trade agreements and simplify bilateral technical standards.
At the conclusion of the meeting, a Memorandum of Understanding on the development of trade and economic relations was signed between the ministries of trade of the two countries, along with several other documents in the fields of industry, public procurement, and other key areas of cooperation.