BAKU, Azerbaijan, July 17. Türkiye and Uzbekistan agreed to expand their Preferential Trade Agreement, targeting mutual trade turnover of $5 billion.
This is reflected in the statement, published by the Uzbek Ministry of Investment, Industry, and Trade.
The agreement was reached during a working meeting amid an official visit of the Turkish delegation to Uzbekistan.
The bilateral meeting of the Uzbek-Turkish Working Group on the Preferential Trade Agreement was co-chaired by Akram Aliyev, Deputy Minister of Investment, Industry, and Trade of Uzbekistan, and Mustafa Tuzcu.
"The decisions will contribute to the intensification of bilateral trade, an increase in export-import supplies, and the achievement of the target for mutual trade turnover of $5 billion," the statement of the ministry says.
During the sessions, which marked the successful conclusion of the third round of negotiations, the parties focused on expanding the existing list of goods subject to the preferential trade regime on a parity basis.
Following the talks, the co-chairs signed a protocol solidifying agreements on the inclusion of additional commodity positions that align with the mutual economic interests of both nations.
Recently, Uzbekistan's Chamber of Commerce and Industry and a business delegation from Türkiye's Antalya Chamber of Commerce and Industry (ATSO) discussed expanding bilateral trade and strengthening cooperation between the two countries' business communities.
"The parties discussed ways to further strengthen trade and economic relations between Uzbekistan and Türkiye, increase bilateral trade turnover, expand export-import cooperation, and elevate institutional partnership between the two chambers of commerce to a new level," the chamber said in a statement.
The sides also emphasized the importance of organizing regular business-to-business (B2B) meetings, trade missions, and joint business events to create new opportunities for entrepreneurs in both countries.
