BAKU, Azerbaijan, April 19. Uzbekistan and Saudi Arabia intend to deepen cooperation in the energy sector, Trend reports via the Uzbek Ministry of Investment and Foreign Trade.
In this regard, the Deputy Prime Minister - Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov held a meeting with the Minister of Energy of the Kingdom of Saudi Arabia, Prince Abdulaziz bin Salman Al Saud.
During the meeting, the current state of the Uzbek-Saudi partnership in the energy sector, the implementation of joint projects, and prospects for expanding the joint investment portfolio in this sector were discussed.
Saudi Arabia is currently one of the largest foreign investors in the energy sector of Uzbekistan. This was due to the successful operation of the Saudi ACWA Power company in the country, the total cost of projects of which exceeds $2.5 billion.
During the meeting, significant prospects were noted for further deepening cooperation in the field of renewable energy in order to bring the share of alternative energy sources in the country's total energy balance to 25 percent by 2026.
As a result of the meeting, further steps were outlined to deepen mutually beneficial cooperation and develop new areas of partnership.
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