Uzbekistan and Türkiye set sights on $5bn trade boost

Uzbekistan and Türkiye set sights on $5bn trade boost

Uzbekistan and Türkiye have agreed to boost their trade volume to $5bn, aiming to expand the range of products traded under the Preferential Trade Agreement. As part of this effort, Uzbekistan will establish a trade representative office in Istanbul to facilitate and strengthen economic ties between the two countries, the presidential press service reported.

President Shavkat Mirziyoyev of Uzbekistan and President Recep Tayyip Erdogan of Türkiye met at the Presidential Palace in Ankara to discuss and affirm their commitment to expanding large-scale cooperation between their countries.

The meeting, held in the spirit of Eid al-Adha celebrations, saw both leaders exchanging warm congratulations on the sacred occasion. The discussions emphasized the further expansion of the comprehensive strategic partnership, with a focus on enhancing political, trade-economic, and cultural-humanitarian collaboration.

Both leaders expressed satisfaction with the current pace of bilateral cooperation, highlighting the increasing mutual trade and investments, as well as the rise in joint projects, enterprises, and air travel between the two nations. 

Additionally, numerous mutual cultural events have been successfully conducted, reflecting the deepening ties at various levels.

Prior to the presidential meeting, a business forum was held, resulting in the formation of a significant portfolio of new projects across various sectors. These include industry, green energy, electrical engineering, textiles, pharmaceuticals, and agriculture, many of which fall under the public-private partnership program.

The decision to establish the Uzbekistan-Türkiye Business Council, chaired by the heads of state, was another notable development. The council’s inaugural meeting is scheduled for today, underscoring the proactive steps being taken to enhance economic ties.

In addition to economic cooperation, the leaders discussed the expansion of partnerships in agriculture, water resources management, and digitization. They emphasized the necessity of strengthening coordination in security and defense, with a particular focus on combating terrorism, extremism, and radicalism.

Cultural and humanitarian exchanges will continue to be a priority, with both sides agreeing to enhance cooperation in education, healthcare, tourism, and sports. Efforts will be made to create favorable conditions for the citizens of both countries, fostering closer people-to-people connections.

The meeting also covered pressing regional and international issues, including the situation in Afghanistan, reflecting the broad scope of the strategic dialogue between Uzbekistan and Türkiye.

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