BAKU, Azerbaijan, Apr. 20
By Ilkin Seyfaddini – Trend:
Turkish company Toleza Tekstil Sanayı lç ve Diş Tic. Ltd. Ști plans to implement Invest Village project in Uzbekistan, Trend reports with reference to Uzbek media.
The company intends to invest $25 million in the construction of modern residential complexes in Tuzel village of Kibray district in Tashkent region. In addition, $5 million will be invested by local Super Garden company.
The Tashkent Regional City Hall will receive five percent of the total area.
Uzbek-Turkish cooperation has intensified considerably over the past three years. The state visit by of Uzbek President Shavkat Mirziyoyev to Turkey in October 2017 and Recep Tayyip Erdogan's visit to Uzbekistan in April 2018 have boosted the mutual political confidence and opened wide opportunities for fruitful partnership.
The results of intensive contacts and mutual aspirations have been reflected in economic cooperation. If in 2016, the mutual trade turnover was almost $1.2 billion, in 2019 this figure exceeded $2.5 billion. More than 1,300 enterprises with participation of Turkish investments operate in Uzbekistan, and investment projects worth $500 million are being implemented.
President of Uzbekistan visited Turkey on February 19-20, 2020 at the invitation of President of Turkey Recep Tayyip Erdogan. On the first day, the first meeting of Strategic Cooperation Council of top level was held in Ankara under the chairmanship of leaders of the two countries.
On February 20, Mirziyoyev met with heads of leading Turkish companies and banks who expressed willingness to enter the Uzbek market and implement promising joint projects.
Following the visit, the head of state signed a number of documents on developing bilateral cooperation in trade, economy and technology.
On 14 April 2020, Turkey ratified an agreement with Uzbekistan on combined cargo transportation.
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