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Wednesday, August 21st, 2019

Uzbekistan, Turkey sign agreements for $455 mln

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Uzbekistan and Turkey signed a package of documents 62 agreements worth a total of $ 455 million within the framework of the regular meeting of the UzbekTurkish Intergovernmental Commission on Trade and Economic Cooperation, held in Ankara, the press service of the Ministry of Foreign Affairs of Uzbekistan reported.

A number of important agreements have been reached in the course of the negotiations, including the introduction of a visafree regime for Uzbek drivers and the abolition of duties on transit documents for them from 2020. Also within the forum the following documents were signed:

Agreement on cooperation between the Chamber of Commerce and Industry of Uzbekistan and the Foreign Economic Relations Board of Turkey (DEIK);

Agreement on cooperation between the Ministry of Investment and Foreign Trade of Uzbekistan and the Gebze Organized Industrial Zone of Istanbul;

Memorandum of cooperation between Uzbekistan Railways JSC and the Turkish State Railways Administration (TCDD).

Today Turkey is one of the top five foreign economic partners of Uzbekistan and holds leading positions in terms of bilateral trade (over $2 billion) after China and Russia. Over 1,000 joint ventures and foreign enterprises with Turkish capital are operating in Uzbekistan.

Presidents of Uzbekistan and Turkey have instructed to bring the volume of bilateral trade up to $5 billion in the near future.

The next Intergovernmental Commission meeting will be held in 2020 in Tashkent.

Source: Kyrgyz National News Agency

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