Sardor Umurzakov, Vice President of Turkey discuss signing a preferential trade agreement 

As the MIFT press service reported, intensification of economic cooperation, with a view to strengthening investment ties and expand mutual trade nomenclature was in the focus of the parties. For this, practical measures were developed in various areas and sectors with the definition of exact dates and specific performers.

They also touched upon issues of systemic interaction in the field of transport and freight transportation, expanding cooperation within the framework of technical assistance programs and concessional lending by the Turkish government.

The parties studied the issues of accelerating the preparation for signing the Agreement on preferential trade between Uzbekistan and Turkey, expanding the list of commodity items proposed for inclusion in this agreement. They also agreed on the procedure for its practical application. It is expected that these measures will greatly contribute to the fulfillment of the instructions of Mirziyoyev and Erdogan to bring the trade turnover between Uzbekistan and Turkey to $5 billion.

Separately, the prospects for cooperation on the creation of a branch of the Gebze special industrial zone were considered. In this context, the Turkish side welcomed the adoption of a new law “On special economic zones” in Uzbekistan prepared on the basis of best foreign practices in this area.

It is noted that the Turkish government plans to organize a visit of a delegation of Turkish entrepreneurs, led by the Minister of Industry and Trade of Turkey, at the beginning of March this year.

Moreover, the parties agreed to intensify cooperation within the framework of the mechanism of the intergovernmental commission on trade-economic cooperation and ensure its work on an ongoing and systematic basis.