Turkmenistan, Uzbekistan Consider Creation of Border Trade Zones

BUSINESS TURKMENISTAN
Turkmenistan, Uzbekistan Consider Creation of Border Trade Zones
Turkmen and Uzbek officials agreed to start joint activities to improve conditions for the development of mutual trade.

Within the framework of the visit of the government delegation of Uzbekistan to Turkmenistan, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov held talks with the Vice-Premier of Turkmenistan Serdar Berdimuhamedov. During the meeting, the parties discussed the creation of border trade zones on the Uzbek-Turkmen border.

The meeting discussed the current state and prospects of deepening bilateral cooperation in trade-economic, investment, transport-logistics and cultural-humanitarian spheres, the press service of the Ministry of Investment and Foreign Trade of Uzbekistan said on Wednesday.

During the talks, the parties outlined priority tasks for expanding a multifaceted economic partnership, and also agreed to start joint activities to improve conditions for the development of mutual trade, including through the consistent abolition of existing tariff and non-tariff barriers and simplifying the access of Uzbek and Turkmen products to the markets of the two countries.Taking into account the existing potential of the economies of the two countries, these measures are expected to help increase the the volume of the Uzbek-Turkmen trade to $1 billion in the near future, according to the statement.

The sides also focused on the issues of creating border trade zones on the Uzbek-Turkmen border, which will give an additional impetus to the development of bilateral trade, including by increasing mutual supplies of agricultural and household appliances, food products, building materials, as well as petrochemical products.

They also discussed the preparation for the upcoming bilateral events, in particular, for the third Consultative Meeting of the Heads of State of Central Asia and the Economic Forum of Central Asian Countries, which will be held on August 5-6 in the Avaza National Tourist Zone in Balkan velayat.

Upon the outcomes of the meeting, the officials determined a format for further interaction on the implementation of the reached agreements.