Central Asia’s trade potential is used only by 10%

Business Materials 7 August 2019 15:46 (UTC +04:00)

Baku, Azerbaijan, August 7

By Fakhri Vakilov - Trend:

Over the past year, trade in the region of Central Asia, Afghanistan and Russia has grown by 65 percent, but the domestic market has not yet exhausted all its capabilities, Trend reports citing Sputnik Uzbekistan.

Chairman of the Chamber of Commerce and Industry (CCI) of Uzbekistan Adham Ikramov made this statement during the opening of the Fergana Investment Forum in Uzbekistan.

He noted that now favorable conditions have been created for business and investment both in Uzbekistan and the region as a whole, which must be used as efficiently as possible.

“For a year and a half, we had nine high-level visits to Central Asian countries, and today we also have Afghanistan. For two years, 539 projects worth $3.5 billion have been completed. I don’t think that there are any indicators in the world today which in one year will give an increase in goods turnover in the Asian region as a whole by 65 percent. However, we use the potential of our domestic goods turnover by only 10 percent of the available opportunities," he said.

Ikramov named Russia as the main trade and economic partner, where Uzbekistan exports up to 85 percent of fruits and vegetables. Another direction of ​​cooperation is China.

Moreover, special attention in trade, economic and industrial relations is given to cooperation at the regional level. In particular, this form of interaction has already shown itself effectively in practice when implementing projects with Russia.


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