TASHKENT, Uzbekistan, December 23. Uzbekistan and Iraq discussed the simplification of logistics and customs procedures for entering the Iraqi market, as well as the reduction of tariff and non-tariff barriers, Trend reports via the Uzbek Chamber of Commerce and Industry.
These issues were discussed during a meeting held as part of a working visit by the Uzbek delegation to Baghdad with Gassan Hamid, Iraq’s Deputy Minister of Trade for Economic Affairs.
The discussions were attended by Shokhrukh Gulamov, Deputy Minister of Investment, Industry, and Trade of Uzbekistan; Davron Vakhabov, Chairman of the Chamber of Commerce and Industry of Uzbekistan; and Ayubkhon Yunusov, Uzbekistan's Ambassador Extraordinary and Plenipotentiary to Iraq.
The participants also reached an agreement on the active engagement of entrepreneurs from both nations in the 49th Baghdad International Fair, which is set to take place in Baghdad from February 1 to 7. This event is anticipated to open new avenues for Uzbek companies to secure contracts, collaborate on joint projects, and tap into previously unexplored markets.
In the wake of the meeting, the sides committed to sustaining regular dialogues focused on expanding trade relations, fostering a more favorable business environment, and ensuring tangible outcomes.
Iraq, with a population of approximately 46 million and an estimated annual import demand of $53 billion, presents a significant and promising market for Uzbekistan. The country annually imports textiles, carpets, and leather products worth approximately $3 billion, food products and construction materials valued at $4 billion, and electrical equipment worth nearly $3 billion. Furthermore, Iraq's furniture market is valued at around $1.2 billion, while pharmaceutical imports amount to approximately $2 billion.