BAKU, Azerbaijan, Mar. 11
By Elnur Baghishov – Trend:
The value of trade turnover between Iran and Uzbekistan could reach $1 billion in the short term, Deputy Minister of Industry, Mine and Trade of Iran, Head of the Trade Promotion Organization of Iran (TPOI) Hamid Zadboum said, Trend reports citing the organization’s website.
He made the remark in a meeting with Deputy Foreign Minister of Uzbekistan Furkat Sidikov.
Zadboum noted that Iran's Chabahar Free Trade Zone and Uzbekistan's free trade zones have cooperation in logistics, energy and industry areas. In addition, other areas need to be strengthened to access the Uzbek market.
The deputy minister added that the organization of exhibitions between the two countries is an important issue. Iran is ready to participate in exhibitions of construction and rubber materials to be held in Uzbekistan. At the same time, an exhibition of Uzbek products may be organized in Tehran.
The chairman emphasized that a meeting of the joint commission to develop economic relations between Iran and Uzbekistan will be held in spring.
Speaking at the meeting, Furkat Sidikov said thatjoint investments are important in strengthening relations between the two countries. At present, about 290 companies operate in Uzbekistan at the expense of Iranian investors.
The meeting focused on holding a meeting of the joint economic commission, finalizing economic and cultural documents, creation a joint investment committee, exchanging electronic customs information, preferential trade, technical cooperation, and a roadmap for tourism cooperation between the two countries.
According to the report of the TPOI, Iran's trade turnover with Uzbekistan amounted to 306,000 tons worth $210 million during the first 11 months of the current Iranian year (from March 20, 2020 through February 18, 2021).
Iran exported 245,000 tons of goods worth $133 million to Uzbekistan and imported 60,200 tons of goods worth $77.1 million from Uzbekistan over the reporting period.
