Uzbekistan-Kyrgyzstan: 16% increase in trade turnover over three years

On January 14, 2021, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan S. Umurzakov received Ambassador Extraordinary and Plenipotentiary of the Kyrgyz Republic Iragim Junusov, who is completing his diplomatic mission in Uzbekistan.

During the meeting, the sides addressed the current state and prospects of further deepening of multifaceted Uzbek-Kyrgyz cooperation, as well as identified further efforts to promote joint projects and initiatives.

It was observed that the ties between the two countries have a unique dynamic following the visit of the President of the Kyrgyz Republic to the Republic of Uzbekistan in 2021. Bilateral activities took place during the visit, including a meeting of the Joint Intergovernmental Commission and a meeting of the Council of Governors of the Republic of Uzbekistan's border regions and the Government of the Kyrgyz Republic's border territories.

Achievements in commercial industry were highlighted. In particular, over the past three years, trade between the two countries has grown by 16% to nearly $ 1 billion USD. Much has been done to develop cross-border trade and create favorable conditions for the full use of the logistics and transit potential of the two countries. At the same time, it was noted that there are significant opportunities to boost bilateral trade to $ 2 billion USD in the short run.

The parties also canvassed cooperation in the field of investment and industrial collaboration. Further steps have been identified to develop and promote promising projects, including project initiatives funded by the 2021 Uzbek-Kyrgyz Development Fund.