On Thursday evening (20 October), President of Uzbekistan Shavkat Mirziyoyev arrived in Turkmenistan on an official visit at the invitation of President Serdar Berdimuhamedov.
Today, during the high-level talks, issues of further strengthening strategic partnership relations and expanding multifaceted cooperation will be considered.
Following the summit, it is planned to sign more than ten documents on priority areas of cooperation.
The opening of the Tashkent Park in the city of Ashgabat and the launch of the Khorezm-Dashoguz Border Trade Zone will also be important points of the visit program.
A free trade regime has been established between Uzbekistan and Turkmenistan in accordance with the Agreement signed between the two countries “On the main directions of long-term trade and economic cooperation” (1996).
According to the Center for Economic Research and Reforms of Uzbekistan (CEКR), over the period 2017-2021, the trade between Uzbekistan and Turkmenistan increased 5-fold from $177.9 million to $902 million, exports 2.7-fold from $69.9 million to $191.9 million, imports 6.6-fold from $108.0 million to $710.1 million.
In 2021, the trade turnover between Uzbekistan and Turkmenistan grew by 67.6% and amounted to $902 million, exports increased by 52.2% to $191.9 million, imports – by 72.3% to $710.1 million.
In January-August 2022, the mutual trade posted growth by 2.7% year-on-year and amounted to $533.5 million, including exports worth $146.5 million and imports – $387 million.
To date, 168 enterprises established with the participation of Turkmen capital are operating in Uzbekistan, of which 17 enterprises have been established since the beginning of this year.
Following the results of the President of Turkmenistan’s official visit to Uzbekistan on July 14-15, 2022, approximately 19 documents aimed at further developing a multifaceted partnership were signed.
An important outcome of the negotiations was the adoption of decisions on a number of promising areas, the implementation of industrial cooperation projects, the increase in mutual trade turnover, the creation of a border trade zone, the opening of a joint project office. Agreements have been reached to expand mutually beneficial cooperation in the car, chemical, electrical, textile industries, food industry and agriculture. To this end, a medium-term program of trade and economic cooperation and the development of industrial cooperation has been adopted.
On the eve of the visit, the first Forum of the regions was held in Bukhara, following which a package of deals worth over $450 million was inked.///nCa, 21 October 2022