Kyrgyzstan offers Uzbekistan to create joint ventures

Business Materials 8 February 2018 17:57 (UTC +04:00)

Baku, Azerbaijan, Feb. 8

By Nigar Guliyeva – Trend:

Kyrgyzstan proposed Uzbekistan to establish joint ventures on the basis of 42 enterprises, Kyrgyz Economy Minister Artem Novikov said at a meeting with the Foreign Trade Minister of Uzbekistan on Feb.8, Kyrgyz media reported.

Novikov noted that these are 16 processing enterprises, nine enterprises for production of building materials, nine - production of textile and clothing products, nine - production of paper and cardboard products, four enterprises operating in mining and metallurgical industries and six - in other sectors.

He also suggested using the potential existing in the textile industry of the two countries more actively, including by creating joint enterprises for the production of sewing and knitted goods from cotton, synthetic yarn and cotton fabric supplied from Uzbekistan.

"Our task is to make the business feel free to work in our joint markets. We hope that colleagues from Uzbekistan will support and promote the interests of Kyrgyzstan's business on their territory, just as we will support Uzbek investors and entrepreneurs," Novikov said.

Earlier it was reported that Uzbekistan will open nine enterprises in Kyrgyzstan for car maintenance, assembly of agricultural machinery, production of plastic parts, as well as other production.

According to the Foreign Trade Ministry of Uzbekistan, in 2017 the trade turnover between the two countries increased by more than $ 86 million up to $ 253.9 million. Uzbekistan mainly exports natural gas, textile, as well as fresh and processed fruit and vegetable products to Kyrgyzstan.

The parties intend to increase the turnover to $500 million.