Minister of Industry and Construction Production of Turkmenistan Baymyrat Annamammedov and Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov discussed measures on intensification of industrial cooperation between the countries in a meeting on Tuesday in Tashkent.
The sides also exchanged views on creation of complete value added chains with involvement of production capacities located in the territories of the two countries, the Ministry of Investments and Foreign Trade of Uzbekistan said in its press release.
Proposals on expanding cooperation in industry in new promising areas, identified on the basis of competitive advantages of the economies of Uzbekistan and Turkmenistan, have been put forward during the meeting.
The officials highlighted the tangible growth of economic partnership indicators between the two countries and spoke in favor of the intensification of joint efforts for their further increase.
According to the meeting participants, the Turkmen-Uzbek trade turnover has grown five times in the last four years, and the increase of mutual trade in 2021 amounted to 65% compared to the previous year. A range of trade contracts signed as a result of summit events in September 2021 is at the practical implementation stage.
The sides additionally considered mechanisms for strengthening inter-regional cooperation, agreeing to strengthen the coordination of regional administrations of the two countries to develop new projects of industrial cooperation and trade contracts.
They expressed mutual readiness to organize visits of delegations of ministries and departments of Uzbekistan and Turkmenistan to exchange experience in the field of food security.
Uzbekistan’s foreign trade turnover with Turkmenistan in the first three months of 2022 amounted to $186.8 million.