Government of the Republic of Uzbekistan

04/08/2021 | Press release | Distributed by Public on 04/08/2021 00:23

Issues of Uzbek-Kazakh cooperation discussed

On April 7 this year, Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov in the format of video conferencing held negotiations with the Minister of Trade and Integration of the Republic of Kazakhstan B. Sultanov.

During the talks, the sides discussed current issues of investment, trade, economic and transport and logistics cooperation.

Positively assessing the dynamically growing level of the Uzbek-Kazakh economic partnership, the parties emphasized the significant untapped potential for increasing trade by eliminating existing barriers to trade between the two countries.

In this context, the practical significance of the implementation of the project to create the International Center for Trade and Economic Cooperation 'Central Asia' (ICTEC) in the border areas of Uzbekistan and Kazakhstan was noted.

During the dialogue, the parties noted that the implementation of this project will effectively build a transport and logistics policy of relations between the two countries and significantly reduce the time and financial costs for the supply of Uzbek and Kazakh products to promising markets.

Also, in the opinion of the parties, the creation of the Center will create favorable conditions for stimulating interregional industrial cooperation and attracting mutual investments for the implementation of joint projects.

Having outlined mutual intentions to start the practical implementation of the project in the near future, the parties considered a number of topical issues, on which mutually acceptable solutions were worked out.

Upon completion of the negotiations, the parties expressed mutual readiness for further work aimed at ensuring the accelerated growth of bilateral investment, trade and economic cooperation.

Source: Ministry of Investment and Foreign Trade of the Republic of Uzbekistan