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

On September 24, Shokhrukh Gulamov, Deputy Minister of Investment, Industry and Trade of Uzbekistan, met with Asad M. Khan, Secretary General of the Economic Cooperation Organization (ECO).

The sides highlighted the importance of active cooperation within ECO, which unites half a billion people and holds a third of global energy resources. ECO was noted to have strong potential for expanding trade, transport, industrial and energy cooperation.

 Particular focus was placed on the steady growth of mutual trade: in the past five years, Uzbekistan’s turnover with ECO countries rose 47% to USD 12.2 billion. Since early this year, over 700 new joint enterprises have been created, bringing the total to more than 5,000.

The parties also discussed preparations for the 5th ECO Ministerial Meeting on Trade and Foreign Economic Relations in Istanbul. Uzbekistan’s initiative to establish a Trade, Investment and Innovation Center, and to advance the ECO Trade Facilitation Agreement, was emphasized.

Both sides reaffirmed their readiness to expand mutually beneficial cooperation and strengthen solidarity among ECO members.