Mutual trade turnover between Uzbekistan and Saudi Arabia increased by 9 times

On December 23 this year, as part of the visit of the delegation of the Kingdom of Saudi Arabia to the Republic of Uzbekistan, the Uzbek-Saudi business forum was held, within which a solid package of documents was signed in priority sectors.

The business forum was attended by the Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev, the Minister of Investments of the Kingdom of Saudi Arabia Khalid al-Falih, heads of ministries, departments and over 100 leading companies of both countries.

At the opening ceremony of the Forum, the heads of delegations stressed that the visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to Saudi Arabia in August this year served as a powerful impetus for the comprehensive deepening of relations between Uzbekistan and the Saudi Arabia, demonstrating positive development dynamics in recent years.

Thus, in particular, the volume of mutual trade between the two countries in January-November of this year increased by 9 times compared to the same period last year.

Positive growth dynamics is also observed in investment cooperation - over the past few years, the number of companies with Saudi capital in Uzbekistan has increased by 5 times. Together with Saudi companies, projects worth more than $17 billion are being implemented in the fields of energy, petrochemistry, healthcare, infrastructure development, pharmaceuticals and agriculture.

As a result of the forum, a solid package of documents was signed in priority sectors, the implementation of which will significantly expand the scale of multifaceted cooperation between Uzbekistan and Saudi Arabia, create new jobs and bring interaction between the business circles of the two countries to a higher level.