TASHKENT, Uzbekistan, September 28. The Chambers of Commerce and Industry of Uzbekistan and the United Arab Emirates (UAE) signed a memorandum of cooperation, Trend reports.
The document was signed between Chairman of the Chamber of Commerce and Industry of Uzbekistan Davron Vakhabov and President of Dubai Chamber of Commerce and Industry Mohammad Ali bin Rashed Lootah at a forum organized in cooperation between Uzbekistan and the UAE.
According to the memorandum, cooperation on export of Uzbek products to the UAE and the Persian Gulf countries has been established. The sides also agreed to open permanent showrooms and trading houses in Dubai.
Furthermore, within the framework of the document, the sides will hold Uzbekistan-UAE business council meeting and business forum, establish joint ventures in the sphere of agriculture and a delegation of UAE business circles plans to organize a visit to Uzbekistan.
These initiatives are aimed at supporting Uzbek producers and promoting national products in the region with high consumer demand. This document opens new opportunities for cooperation between the two countries and creates the necessary conditions for the realization of mutually beneficial projects.
Meanwhile, the volume of trade turnover between Uzbekistan and the UAE amounted to $382.5 million from January through July 2024. This indicator increased by 5.6 percent compared to the same period last year when the trade turnover amounted to $362.2 million.
Thus, the UAE has become one of the 20 largest trade partners of Uzbekistan.