Turkmenistan, Uzbekistan Triple Bilateral Trade Turnover

BUSINESS TURKMENISTAN
Turkmenistan, Uzbekistan Triple Bilateral Trade Turnover
The Uzbek-Turkmen Economic Forum is held with the participations of vice-premiers of the countries Sardor Umurzakov and Esenmyrat Orazgeldiyev.(Photo: Sputnik Uzbekistan)

Trade turnover between Uzbekistan and Turkmenistan has tripled over the past few years, the Sputnik Uzbekistan news agency reports with reference to the statement of the Vice-Premier of Uzbekistan Sardor Umurzakov during the Uzbek-Turkmen Economic Forum.

The Uzbek-Turkmen Economic Forum kicked off in the Uzbekistan’s capital Tashkent on Monday. The vice-premiers of the two countries Sardor Umurzakov and Esenmyrat Orazgeldiyev, the co-chairs of the Uzbek-Turkmen Intergovernmental Commission on Trade-Economic, Scientific-Technical and Cultural-Humanitarian Cooperation, took part in the event.

Umurzakov said Uzbekistan this year became a beneficiary of the EU's GSP + arrangement, which allows to export more than 6,000 thousand products to Europe without import duties. The Turkmen and Uzbek businesses can jointly take advantage of this opportunity to jointly develop industry and exports, the Vice-Premier Umurzakov added.

He also said the trade turnover between Uzbekistan and Turkmenistan has tripled over the past few years, and increased by 25% in the first eight months of this year.

According to the official statistics, the trade turnover between the two countries in 2020 stood at $527 million, while the turnover in January-August of this year exceeded $418 million.

In the first eight months of 2021, the volume of international traffic through the countries increased by 13.5%. Within the Ashgabat agreement, the countries are participating in the creation of subregional transport corridors of Russia-Kazakhstan-Uzbekistan-Turkmenistan-Iran-Oman-India and China-Central Asia-Caspian-South Caucasus-Europe, which will allow them to directly enter foreign markets.

The Uzbek-Turkmen Economic Forum takes place within the framework of the visit of President of Turkmenistan Gurbanguly Berdimuhamedov to Uzbekistan.