TASHKENT, Uzbekistan, January 14. Uzbekistan and Iraq discussed the development of B2B ties, the promotion of joint projects, and the removal of practical barriers for companies seeking to enter new markets during the Uzbekistan–Iraq Investment and Business Forum held in Tashkent, Trend reports via the Chamber of Commerce and Industry of Uzbekistan.
Following the forum, memorandums of understanding were signed between the Chamber of Commerce and Industry of Uzbekistan and relevant Iraqi organizations. In addition, B2B meetings were held to discuss specific areas of bilateral cooperation.
The event was attended by Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov, Chairman of the Chamber of Commerce and Industry of Uzbekistan Davron Vakhabov, heads of relevant ministries and agencies, representatives of chambers of commerce and sectoral associations, as well as more than 300 business representatives from both countries.
Speaking at the forum, Kudratov emphasized the significant potential of Uzbek-Iraqi trade and economic cooperation and the strong interest of businesses in expanding direct contacts. Promising areas of cooperation include pharmaceuticals, construction materials production, agriculture and food processing, the electrical and automotive industries, and the food and furniture sectors, as well as industrial cooperation and the establishment of joint ventures.
The Uzbekistan-Iraq Investment and Business Forum once again confirmed the strong interest of business communities in developing direct partnerships.
With a population of approximately 46 million and an estimated annual import demand of about $53 billion, Iraq represents a large and promising market for Uzbekistan. The country annually imports textiles, carpets, and leather products worth around $3 billion, food products and construction materials valued at about $4 billion, electrical equipment worth nearly $3 billion, furniture valued at approximately $1.2 billion, and pharmaceutical products amounting to around $2 billion.
On January 13, Uzbekistan hosted Iraqi entrepreneurs, facilitated by the Uzbekistan Chamber of Commerce and Industry. The delegation visited Tashkent and Samarkand for business forums and bilateral B2B meetings, aiming to enhance cooperation in industries such as electrical engineering, pharmaceuticals, food processing, construction materials, textiles, automotive manufacturing, and tourism. The meetings aimed to create direct business contacts, strengthen trade relations, and explore joint investment opportunities between Uzbek and Iraqi companies.
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