TASHKENT, Uzbekistan, December 30. Uzbekistan and Türkiye are actively considering the establishment of the Turkic Competition Council, Trend reports.
The issue was discussed during a meeting between the delegation headed by Deputy Chairman of the Competition Committee Farrukh Karabaev and the head of the Antimonopoly Department of Türkiye Birol Kule within the framework of the 7th session of the Intergovernmental Commission on Trade and Economic Cooperation between the two nations.
During this meeting, both parties discussed collaborative efforts in the areas of competition and antimonopoly policy, with an emphasis on further improving these policies.
Topics on the program included the use of scientific research in commodity and financial market analysis, as well as joint analyses aimed at examining the cross-border implications of economic concentration agreements on competition.
The following outcomes resulted from the discussions:
holding of a meeting of the competition authorities of the Organization of Turkic States on the establishment of the Competition Council of the member countries
approval of the roadmap for mutual cooperation and exchange of experience for 2024-2025 to ensure the implementation of the Memorandum signed between the Competition Committee and the Antimonopoly Authority of Türkiye
participation of the Uzbek Committee's staff in trainings organized by the Antimonopoly Authority of Türkiye
It was revealed earlier this month that Uzbekistan and Türkiye want to raise trade turnover to $5 billion. As of now, nearly 1,800 Turkish-invested companies are operating successfully in Uzbekistan.
The latest data shows that, during the first four months of 2023, the bilateral trade between the two countries reached little over $1 billion.
In 2022, Türkiye's trade turnover with Uzbekistan was $3.2 billion, a 5.4 percent decline from the previous year ($3.4 billion).
