President of Uzbekistan reviews future plans for economic and investment cooperation with Türkiye and Saudi Arabia
Political
President Shavkat Mirziyoyev has reviewed future plans for economic and investment cooperation with Türkiye and Saudi Arabia, according to the press service of the Uzbek head of state.
The meeting presented information on measures to further develop trade and economic cooperation between Türkiye and Uzbekistan.
Plans include expanding the range of goods under the bilateral Preferential Trade Agreement, reducing tariffs and duties on textiles, leather and footwear, electrical products, and handicrafts, and opening a trade representative office of Uzbekistan in Istanbul.
Additionally, there are plans to develop a "road map" for developing mountainous areas based on Turkish experience, implement an agricultural insurance system, and open an Uzbek-Turkish Seed Testing Centre meeting international standards.
Investment cooperation with Saudi Arabia is also actively developing, with the implementation of several large projects and a constantly expanding investment portfolio. A list of 34 investment projects totalling $24.1 billion has been formed with the participation of Saudi companies.
For these projects, $2.5 billion will be allocated this year, including $1.5 billion for 13 additional projects in transportation, digitalization, infrastructure, healthcare, and energy sectors.
The meeting also focused on enhancing the activities of the Uzbek-Saudi Business Council. The importance of completing negotiations and starting practical work on new promising projects in ecology, the mining industry, and financial cooperation totalling $6.5 billion was emphasized.
After reviewing the reports and plans, the President instructed officials to take measures for the full and high-quality utilization of foreign investments and to establish strict control over project implementation.
The task was set to maintain constant dialogue with investors, create the most favourable conditions for them, and systematically address issues arising during project implementation.
Plans include expanding the range of goods under the bilateral Preferential Trade Agreement, reducing tariffs and duties on textiles, leather and footwear, electrical products, and handicrafts, and opening a trade representative office of Uzbekistan in Istanbul.
Additionally, there are plans to develop a "road map" for developing mountainous areas based on Turkish experience, implement an agricultural insurance system, and open an Uzbek-Turkish Seed Testing Centre meeting international standards.
Investment cooperation with Saudi Arabia is also actively developing, with the implementation of several large projects and a constantly expanding investment portfolio. A list of 34 investment projects totalling $24.1 billion has been formed with the participation of Saudi companies.
For these projects, $2.5 billion will be allocated this year, including $1.5 billion for 13 additional projects in transportation, digitalization, infrastructure, healthcare, and energy sectors.
The meeting also focused on enhancing the activities of the Uzbek-Saudi Business Council. The importance of completing negotiations and starting practical work on new promising projects in ecology, the mining industry, and financial cooperation totalling $6.5 billion was emphasized.
After reviewing the reports and plans, the President instructed officials to take measures for the full and high-quality utilization of foreign investments and to establish strict control over project implementation.
The task was set to maintain constant dialogue with investors, create the most favourable conditions for them, and systematically address issues arising during project implementation.
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