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Uzbekistan plans to expand comprehensive co-op with Iran

Business Materials 27 July 2020 10:59
Uzbekistan plans to expand comprehensive co-op with Iran

BAKU, Azerbaijan, July 27

By Ilkin Seyfaddini - Trend:

Uzbekistan and Iran plan to establish cooperation between the Chambers of Commerce and Industry, Trend reports citing the Ministry of Investment and Foreign Trade of Uzbekistan.

This was discussed at the meeting of Deputy Prime Minister of Uzbekistan Sardor Umurzakov with Vice President for Economic Affairs of Iran Mohammad Nahavandian, where prospects of Uzbek-Iranian trade-economic, investment, financial and transport partnership were discussed.

A considerable emphasis has been placed on expanding investment cooperation during the negotiations.

The dynamics of expanding the number of joint Uzbek-Iranian enterprises has been showing a steady growth - their number has grown 1.5 times over the past year in Uzbekistan.

An agreement has been reached to actively involve potential Uzbek and Iranian partners in industrial cooperation in such areas as agriculture, electric power, chemical and petrochemical industries.

The prospects of establishing cooperation and industrial cooperation between the free economic zones of Iran (Kish, Chabahar, Aras) and Uzbekistan (Navoi, Angren) were considered as well.

Issues related to the development and approval of a new version of Agreement on Preferential Trade, (signed between Uzbekistan and Iran in 1993), were also discussed during the meeting.

Following the talks, the sides reached an agreement to start preparations for a session of Uzbek-Iranian Intergovernmental Commission on Development of Trade and Economic, Cultural-Humanitarian, Scientific and Technical Cooperation in the second half of 2020.

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