Uzbekistan strengthens trade, economic partnership with Turkmenistan

Ashgabat, Turkmenistan, July 5

By Huseyn Hasanov - Trend:

The post of adviser on trade and economic issues has been established in the Embassy of Uzbekistan in Turkmenistan, the Uzbek Foreign Ministry said in a statement.

The positions of advisers on trade and economic issues have been added to the staff schedules of the country's embassies in the Kyrgyz Republic, the Republic of Tajikistan and Turkmenistan by resolutions of the president of Uzbekistan.

The trade turnover of Uzbekistan with Kyrgyzstan amounted to $253.9 million, with Tajikistan-to $237 million, and with Turkmenistan-to $177.3 million according to the statistical data for 2017.

The volume of mutual trade of Uzbekistan with these countries amounted to $668.2 million during that period, which is almost 16 percent more than in 2016.

It was reported in April 2018 that Turkmenistan and Uzbekistan signed contracts and memorandums providing for joint projects worth more than $ 250 million.

This has become possible as a result of negotiations between representatives of the business circles of the two countries, held on April 23-24, 2018 during the state visit of the President of Turkmenistan Gurbanguly Berdimuhamedov to Uzbekistan.

Turkmenistan and Uzbekistan, which have impressive reserves of hydrocarbon resources, are in favor of diversification of energy flows. A good example here is the implementation of the project of construction of the Turkmenistan-Uzbekistan-Kazakhstan-China gas pipeline, which was put into operation in 2009.

Gurbanguly Berdimuhamedov has recently invited the business circles of Uzbekistan to participate in the project of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline. Construction of the Turkmen section began in December 2015.

Uzbekistan was also invited to start developing oil and gas fields on the Turkmen shelf of the Caspian Sea.

Ashgabat is ready to intensify cooperation in the framework of the project on the supply of electricity from Central to South Asia along the Turkmenistan-Uzbekistan-Tajikistan-Afghanistan-Pakistan route.

The two countries are also discussing at this stage the project of creation of the Uzbekistan–Turkmenistan–Iran-Oman transport route. This will significantly increase international transit cargo traffic and provide a new communication corridor to world markets.

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