BAKU, Azerbaijan, Feb. 9
By Klavdiya Romakayeva - Trend:
Uzbekistan and Saudi Arabia discussed mechanisms for increasing the volume of mutual trade by increasing the supply of competitive products of Uzbek and Saudi production, Trend reports referring to the Ministry of Investments and Foreign Trade of Uzbekistan.
Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov, and Minister of Investments of Saudi Arabia Khalid al-Falih discussed topical issues of investment and trade and economic cooperation, as well as the implementation of the agreements reached during the visit of the delegation of the Kingdom of Saudi Arabia to Uzbekistan in January of this year.
The parties also discussed issues related to the development and implementation of cooperation projects in the fields of trade, tourism, energy, and chemical industry.
Saudi side emphasized the interest of such Saudi companies as Sabic Corporation, Saudi Aramco, National Technology Group, Maaden, Sira, Jamjoom Pharma, and others to invest in Uzbekistan, which was significantly strengthened following the results of the Uzbek-Saudi business forum held in Bukhara and the meeting of the Uzbek-Saudi business council.
Also, the parties indicated mutual readiness to deepen long-term partnership in the energy sector through close interaction to accelerate the construction of a thermal power plant in the Syrdarya region and the implementation of projects for the construction of wind power plants in the Bukhara and Navoi regions.
The talks also touched upon practical issues related to the creation of joint financing mechanisms for the highest priority investment projects. As such, it was proposed to consider promising proposals for the creation of industrial clusters in Uzbekistan in the textile, agricultural, and pharmaceutical industries.
Furthermore, the sides considered mechanisms for increasing the volume of mutual trade by increasing the supply of competitive products of Uzbek and Saudi production, enhancing the participation of manufacturers of the two countries in the exhibition and fair events held in Uzbekistan and Saudi Arabia, and creating Uzbek-Saudi trading houses.
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