On 7 September 2022, Deputy Prime Minister of Turkmenistan Batyr Atdayev, in charge of the trade sector, held talks in Tashkent with Deputy Prime Minister – Minister of Investment and Foreign Trade of Uzbekistan Jamshid Khodjayev.
Prospects for the development of industrial cooperation within the framework of the Program of Trade and Economic cooperation and the development of industrial cooperation for 2022-2025 between Uzbekistan and Turkmenistan were discussed during the meeting.
It was noted that the trade turnover between the two countries increased by 67% in 2021 and reached US $902 million. This year, the indicator has grown by 9% to US $ 486 million. The parties expressed their readiness to boost the mutual trade to US $2 billion per year.
The meeting also considered the possibility of holding 17th meeting of the joint commission on trade, economic, scientific, technical and cultural cooperation before the end of this year.
Further, the negotiations continued in an expanded format, attended by the heads of the main ministries and departments, industry associations and local authorities of the two countries.
The talks touched upon the prospects for deepening investment cooperation.
To date, there are 173 enterprises with Turkmen capital operating in Uzbekistan, including 69 joint ventures and 104 enterprises with one hundred percent Turkmen capital.
An agreement was reached to significantly increase the number of joint projects in the field of production of finished textile, pharmaceutical, construction, agricultural products on the territory of the two countries.
In addition, Uzbekistan and Turkmenistan are interested in launching a joint assembly of cars and agricultural machinery, establishing joint production of household appliances in Turkmenistan.
The sides mulled over the ideas for expanding transport and logistics ties, encouraging the transit cargo flows, as well as planning of pilot transportation along international transport corridors using the capabilities of seaports. ///nCa, 8 September 2022 (photo source – Ministry of Investment and Foreign Trade of Uzbekistan)