Further implementation of the multifaceted development of Uzbek-Saudi cooperation

Deputy Prime Minister, Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov and Minister of Investments of the Kingdom of Saudi Arabia Khalid al-Falih considered topical issues of bilateral investment and trade and economic cooperation.

The delegation of Uzbekistan headed by the Minister of Foreign Trade and Investment  Umurzakov visited Riyadh in Saudi Arabia On May 3, 2021 to for discussing further step to deepen Uzbek-Saudi trade, economic and investment cooperation.
The progress of the implementation of the agreements reached following the visit of the government delegation of Saudi Arabia to Uzbekistan was also considered. We remind that the previous governmental visit took place in January this year.

The opportunities to attract additional Saudi investment in energy and energy infrastructure development were especially noted. It was also highlighted that in March of this year, the board of directors of ACWA Power approved a new program for the development of power generating capacities in the Republic of Uzbekistan, which provides for the implementation of additional projects in the Syrdarya region and the Republic of Karakalpakstan for a total of $ 3 billion.

Moreover, the sides discussed the issues of increasing mutual tourism by establishing regular flights between. Particularly, a significant potential was noted for the development of ziyorat tourism ( pilgrim tourism) in both directions. Consequently, parties agreed to intensify cooperation in this direction.

As a result of the event, practical actions were agreed upon to further deepen cooperation in priority areas.