The investment and trade agreements totaling US $ 451 million have been signed Wednesday, 13 July 2022, at the first Turkmen-Uzbek interregional forum in Bukhara.
The event brought together heads of ministries, departments, industry associations, commercial banks, chambers of commerce and industry, heads of local administrations and representatives of business circles from various regions of the two countries.
The delegations were headed by Deputy Prime Minister – Minister of Investments and Foreign Trade Sardor Umurzakov from the Uzbek side, and Deputy Prime Minister Batyr Atdayev from the Turkmen side.
It should be noted that on the same day, at the bilateral talks Umurzakov and Atdayev have reached agreement to increase the trade turnover to US $ 2 billion.
In this vein, the initiatives of the interregional forum will serve as a kind of booster to achieve the task in practice.
In particular, the parties expressed their readiness to organize regular mutual visits of heads and business missions of the regions of the two countries.
The permanent working groups will be established between the regions of Uzbekistan and Turkmenistan, which will work out new areas of cooperation, develop, coordinate and implement promising projects.
In the context of the development of interregional ties, the importance of the accelerated launch of cross-border trade zones, the opening of trading houses and the implementation of joint projects aimed at creating high-tech industries was emphasized.
Agriculture, automotive, chemical, textile, leather and footwear and electrical industries are areas which were defined by the forum participants as the most promising in terms of investment, industrial and trade cooperation.
The forum was attended by the heads of chambers of commerce and industry, heads of regions. The presentations were held on the prospects for expanding investment cooperation.
Entrepreneurs had the opportunity to meet in “B2G” and “B2B” formats and outline plans to increase industrial cooperation.
In general, the forum has provided a benchmark for business communities to undertake further efforts within the framework of the agenda of bilateral economic cooperation. ///nCa, 13 July 2022