Uzbekistan, Saudi Arabia discuss prospects for increasing trade cooperation

Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov and the Minister of Commerce of Saudi Arabia Majid bin Abdullah Al Kassabi discussed the prospects of increasing trade cooperation between the two countries and practical measures to increase the trade turnover, in Mecca.

According to the Ministry of Investments and Foreign Trade, a significant potential for the development of mutual trade was noted and mutual readiness was expressed to establish close practical cooperation to eliminate existing trade barriers and establish direct ties between the manufacturers of the two countries.

The parties welcomed the approval of the joint technical cooperation program between Uzstandard Agency and Saudi Standards, Metrology and Quality Organization in standardization, metrology and conformity assessment.

An agreement was reached to intensify cooperation between the customs services of the two countries to sign an interdepartmental agreement on cooperation in the customs regulation and information exchange.

The parties also agreed to identify new growth points of cooperation in the trade, investment and tourism spheres and to take measures for their early implementation at the level of the working group.

Following the meeting, agreements were reached defining the format and goals of further cooperation.

Source: UzA