Trade between Uzbekistan, other Central Asian states increases
Baku, Azerbaijan, July 13
By Fikret Dolukhanov – Trend:
In the 1H2018, trade between Uzbekistan and the Central Asian countries grew by 46 percent and amounted to $1.86 billion, the country's Foreign Trade Ministry said on July 13.
Trade and economic cooperation with Kazakhstan is developing especially actively. The first meeting of the Uzbekistan-Kazakhstan business council was held in Shymkent in May 2018.
At the beginning of May, the first meeting of the working group on development of proposals on increase of mutual trade between Uzbekistan and Kazakhstan was held. As a result, in January-June 2018, trade between Uzbekistan and Kazakhstan increased by 52 percent, with exports increasing by 48 percent.
“Uzbekistan will continue to actively involve entrepreneurs from Central Asia in opening joint industrial production of goods in demand on the world market. For its part, the republic is ready to meet the needs of the regional market for a wide range of finished products, corresponding to the highest international quality standards,” the Foreign Trade Ministry noted.
Over the past year, Uzbekistan has introduced a new mechanism to stimulate trade with the countries of the region. In particular, intergovernmental agreements were signed with Tajikistan and Kyrgyzstan on opening of special credit lines in amount of $100 million on a revolving basis.
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