Uzbek President ratifies agreement on economic cooperation with Turkmenistan

Uzbekistan Materials 10 December 2012 20:44 (UTC +04:00)

Uzbekistan, Tashkent, Dec. 10 /Trend D.Azizov /

Uzbek President Islam Karimov signed a decree ratifying the agreement between Uzbekistan and Turkmenistan on economic cooperation in 2013-2017.

The agreement was signed in Ashgabat on October 2, during the official visit of Uzbek President to Turkmenistan.

According to the agreement, the two countries will strengthen cooperation on the further development of trade and economic relations, including through creation of favorable conditions for increasing bilateral trade, increasing the volume and the range of mutual supply of goods and services, and establishing direct business contacts between representatives of business organizations in Uzbekistan and Turkmenistan.

The parties will also continue work to diversify transport corridors and routes for entering foreign markets, creating favorable conditions for the transit of goods from third countries.

According to the State Statistics Committee of Uzbekistan, in 2011 Uzbek-Turkmen trade turnover grew by 1.7 times, reaching $454.3 million (including exports - $168.6 million , import - $285.7 million). Seven joint ventures with the Turkmen capital operate in Uzbekistan, while there are six companies in Turkmenistan created with the participation of Uzbek investors.