Turkmenistan Looks to Boost Trade With Uzbekistan

BUSINESS TURKMENISTAN
Turkmenistan Looks to Boost Trade With Uzbekistan
Farap customs border at Turkmen-Uzbek border

Deputy Chairman of the Turkmen Cabinet Chary Gylyjov, overseeing the country’s trade complex, during the online cabinet meeting on Friday briefed President Gurbanguly Berdimuhamedov on the activities to establish cross-border trade between Turkmenistan and Uzbekistan.

In order to implement the Agreement on Cross-Border Trade, Mutual Trade and Investment, signed during the official visit of the Turkmen President to Uzbekistan on October 5, 2021, the Ministry of Trade and Foreign Economic Relations together with subordinate agencies are carrying out appropriate works, according to the Vice-Premier.

These works include determining the area and location of the border trade zone and associated facilities, preparation of their schemes and drawings, drafting the regulations of international and regional wholesale trade, transit and control of goods in accordance with the national legislation.

Following the report, President Gurbanguly Berdimuhamedov said the expansion and diversification of the nomenclature of mutual trade with Uzbekistan is among the promising areas of cooperation.

Stressing the importance of cooperation with Uzbekistan, the Head of State supported the proposal to establish cross-border trade between the two countries, and tasked the Vice-Premier to oversee the implementation of these plans.

Uzbekistan’s foreign trade turnover with Turkmenistan in January-November period of 2021 reached $626.1 million, a 34.5% increase compared to the same period of 2020.