TASHKENT, Uzbekistan, June 6. Uzbekistan’s Uzpromstroybank and Türkiye’s Aktif Yatirim Bankasi A.S. bank signed an agreement on cooperation to attract funds totaling $40 million, Trend reports.
According to Uzpromstroybank, the funds will be used to finance trade, support small and medium-sized businesses.
In addition, the sides reached an agreement to open a correspondent settlement account with Aktif Yatirim Bankasi A.S. by Uzpromstroibank in order to create conditions and conveniences for mutual settlements between business partners of Uzbekistan and Türkiye.
Meanwhile, Uzbekistan’s trade turnover volume with Türkiye amounted to $920.2 million from January through April 2024. This figure is 7.9 percent lower compared to the same period last year ($1 billion in January–April 2023).
Türkiye ranked fourth among the countries with the largest volume of foreign trade turnover in Uzbekistan. The country’s share in the total volume of trade turnover in Uzbekistan accounts for 4.4 percent.
The volume of exports to Türkiye from Uzbekistan amounted to $378 million during this period, while Uzbekistan’s imports from Türkiye reached $542.3 million.