Uzbekistan – Iran investment cooperation

On December 22, Sardor Umurzakov, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan, engaged in a video conference with Mohsen Rezaei, Vice President of the Islamic Republic of Iran for Economic Affairs.

During the negotiations, the sides canvassed the current state and prospects of bilateral economic cooperation. The parties noted that the dialogue between the two politicians during the recent summit of the Shanghai Cooperation Organization (SCO) and the 15th Summit of the Economic Cooperation Organization has further intensified Uzbek-Iranian relations, as well as their commitment to work together to implement the agreements reached.

Focusing on mutual partnership, the meeting highlighted new opportunities on the implementation of new projects in the production of building materials, construction, agriculture, fisheries, pharmaceuticals, electrical engineering, chemistry and light industry so forth.

Mutual trading was considered as a priority. The positive dynamics of the Uzbek-Iranian trade turnover, including the proliferation in bilateral trade in January-November this year, was noted with satisfaction by 74.4%. The parties agreed to intensify work on a draft agreement on preferential trade between Uzbekistan and Iran.

In the short run, a number of bilateral events were addressed, including the 14th meeting of the Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation, as well as the organization of a business forum with the participation of business circles of the two countries.

Finally, it was decided to create and ratify a "Roadmap" for boosting Uzbekistan-Iran cooperation in the spheres of investment, industry, commerce, and transportation.