BAKU, Azerbaijan, Oct. 4
By Fakhri Vakilov – Trend:
Uzbekistan intends to organize production of vehicles and electrical products in Turkmenistan, as was stated by the Minister of Investment and Foreign Trade of Uzbekistan Sardor Umurzakov at the Uzbek-Turkmen forum in Tashkent, Trend reports referring to Uzbek media.
An agreement was reached on the opening of joint ventures at the forum. An agreement on setting up production of special vehicles in Turkmenistan was signed between Uzavtosanoat and Turkmenistan Motors.
The minister stressed that the economic relationship between the two countries should develop in several directions: an increase in trade, industrial cooperation, transport and logistics partnership and inter-regional cooperation.
In 2021, the trade turnover between Uzbekistan and Turkmenistan increased by 24.1 percent and amounted to $417.1 million.
According to Umurzakov, both states today do not sufficiently use the existing potential. Thus, Uzbekistan imported from third countries goods produced in Turkmenistan for $600 million, and Turkmenistan purchased products manufactured in Uzbekistan for $ 612 million from abroad.
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