Uzbekistan, Tashkent, Sept 4 /Trend D.Azizov/
Uzbekistan and Turkmenistan can bring its bilateral trade to $1 billion in the next two years. This forecast was made during the eighth session of the Uzbek-Turkmen Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation in Tashkent.
"Objectively assessing the economic potential of our countries with the traditionally close neighborly relations, we see great prospects for a major expansion of trade by increasing the range and volume of supplied products," Foreign Economic Relations Minister Elyor Ganiev said.
The minister noted that the Uzbek enterprises are ready to supply agricultural equipment, cars, trucks, buses, a wide product range of electrical, chemical industry, building materials, and metal products, which can fully meet the needs of a growing Turkmen economy to the Turkmen market.
"We are ready to purchase products of gas, petrochemical and other industries in Turkmenistan," Ganiyev said.
Following the meeting, Foreign Economic Relations Minister Elyor Ganiev and Trade and Foreign Economic Relations Minister Bayar Abaev signed a joint protocol, which confirms the parties' intention to increase the volume of trade.
Trade ties between Uzbekistan and Turkmenistan are regulated by an intergovernmental agreement.
According to the State Statistics Committee of Uzbekistan, Uzbek-Turkmen trade turnover in 2011 increased by 1.7 times and amounted to $454.3 million (including exports - $168.6 million, import - 285.7 million).