Uzbekistan, Turkmenistan to activate trade and economic cooperation

Photo: Uzbekistan, Turkmenistan to activate trade and economic cooperation / Uzbekistan

Uzbekistan, Tashkent, Sept. 28 /Trend D. Azizov/

An Uzbek delegation, headed by the minister of economic relations, investments and trade Elyor Ganiev has recently discussed intensifying trade and economic cooperation with representatives of the Turkmen ministry of trade and foreign economic relations, the government source reported to Trend on Friday.

Reportedly during the eighth meeting of the Uzbek, Turkmen commission on trade and economic, scientific, technical and cultural cooperation, which took place in Tashkent early in September, the parties stated that the mutual trade turnover between Uzbekistan and Turkmenistan can be expected to reach one billion dollars.

Substantive discussion of issues on the practical realisation of previously reached agreements, analysis of facilities for expansion of mutually beneficial relations in thermal and energy fields, transportation and communication sectors and in a number of other directions took place at the meeting of trade company representatives of the countries.

Uzbek companies are ready to supply agricultural equipment, cars and truck, buses, an expanded variety of electric and technical, chemical industry, construction materials, metal production and chemical fertilisers and pesticides, modern appliances, pharmaceutical production, laboratory equipment and other goods which can completely provide the needs of the developing Turkmen economy, to the marketplace.

In turn, Turkmenistan will increase the supply of oil and gas and chemistry production to Uzbekistan.

Trade relations between Uzbekistan and Turkmenistan are regulated by an intergovernmental agreement on the major directions of long term trade and economic cooperation signed in January of 1996. Since then, relations in this field have been established based on direct agricultural ties.

According to the State Statistics Committee, Uzbek Turkmen trade turnover has increased 1.7 times to reach 454.3 million dollars (exports 168.6 million dollars and imports 285.7 million dollars). Seven joint companies with the participation of Turkmen capital are currently operating in Uzbekistan with six established by Uzbek investors in Turkmenistan.

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