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Uzbekistan proposes to create free trade regime with Turkmenistan

Business Materials 23 February 2011 15:54 (UTC +04:00)

Uzbekistan, Tashkent, Feb. 23 / Trend D. Azizov /
Uzbekistan proposes to create a full free trade with Turkmenistan. It would contribute to the development of cooperative ties between economic entities of both countries, co-chairman of the commission from the Uzbek side, Vice Prime Minister of Uzbekistan, Foreign Minister Elyor Ganiev said at the sixth meeting of Uzbek-Turkmen intergovernmental commission on trade-economic, scientific-technical and cultural cooperation.
"We understand and appreciate the opportunities that can be realized by strengthening mutual understanding and intensifying mutually beneficial cooperation between our two countries in economic development, trade, agriculture, water resources, cultural, humanitarian, transport, communication and other areas of mutual interest, " Ganiyev said.
He added that the Uzbek enterprises are ready to provide Turkmenistan with agricultural equipment, cars, trucks, buses, a wide range of chemical and electrochemical products, building materials, metal products, chemical fertilizers, modern household appliances, pharmaceuticals, other goods that may fully meet the needs of Turkmenistan at competitive prices.
He also proposed the possibility of signing an intergovernmental agreement on the mutual establishment of trade offices, which will promote and increase bilateral trade between the countries within the forthcoming official visit of the Turkmen president to Uzbekistan.
Co-Chairman from the Turkmen side - Turkmen Minister of Trade and Foreign Economic Relations Bayar Abayev expressed hope for fruitful cooperation with Uzbekistan.
"It deals with political, trade-economic, cultural and humanitarian cooperation ties in oil and gas, energy supply, transport, agriculture and water management, as well as customs cooperation," Abayev said.
A meeting of the Uzbek-Turkmen intergovernmental commission discussed the current state and prospects of developing bilateral ties.
Trade relations between Uzbekistan and Turkmenistan are governed by an intergovernmental agreement on main directions of long-term trade and economic cooperation, signed in January 1996.
According to the Uzbek Ministry of Foreign Economic Relations, Investments and Trade, the Uzbek-Turkmen trade-turnover in 2010 increased by 5.6 percent - up to $195.5 million. The country has four joint ventures with Turkmen capital.

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