Belt and Road

20 Sep 2021

Uzbekistan, Turkmenistan Agree to Increase Trade Turnover to 1 bln USD

20 Sep 2021  by Xinhua   
Uzbekistan and Turkmenistan have agreed to increase the trade turnover between the two neighboring countries to 1 billion U.S. dollars after the Uzbek-Turkmen intergovernmental commission's meeting held in Tashkent, the Uzbek Ministry of Investments and Foreign Trade said Wednesday.

The two sides have also agreed to accelerate the approval of the draft agreement on the creation and regulation of the activities of the Uzbek-Turkmen border trade zone, it said.

The talks also include a wide range of issues of cooperation in investment, trade and economic, industrial, energy, agricultural, water management, scientific and technical, transport and transit and cultural and humanitarian spheres.

According to the Uzbek Ministry of Investments and Foreign Trade statement, currently 160 enterprises with the participation of Turkmen capital operate in Uzbekistan, and the volume of trade between the two countries in the first half of this year increased by 20 percent compared to the same period last year.

"An agreement was reached to intensify the development of new joint projects to create agro-industrial complexes, textile, leather and footwear industries, production of cars, electrical appliances and building materials," the statement said.

The countries have also agreed to increase transport connectivity between the two countries, a phased resumption of air flights, the provision of mutual tariff preferences for transport corridors, and the prospects for using the infrastructure of the Turkmenbashi seaport in Turkmenistan.


More News