Uzbekistan, Ukraine eye to increase mutual trade to $1 billion a year

On November 3, Deputy Prime Minister - Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov met with the Ambassador of Ukraine to Uzbekistan Mykola Doroshenko.

During the conversation, the current state and prospects of bilateral relations in the field of investment, industrial cooperation, trade, transport and culture were discussed, the MIFT press service reported.

The parties noted the need to intensify joint efforts to further expand and diversify mutual trade and ensure its growth to $1 billion per year in the near future.

Significant prospects for cooperation between the countries in the field of chemical, petrochemical, metallurgical, food, pharmaceutical industries and in the sector of information and communication technologies were identified. The initiative to establish industrial cooperation in mechanical engineering and the production of oil and gas equipment was also considered.

Particular attention was paid to collaboration in agriculture through the creation of joint agro-industrial enterprises for the cultivation and processing of demanded crops.

The urgency of taking joint measures to enhance interregional cooperation and organizing mutual visits of delegations of business circles of the two countries was also noted.

Following the meeting, an agreement was reached on the creation of a joint working group consisting of the heads of relevant ministries and departments of the two countries to study the existing potential and prepare specific proposals to expand investment, industrial and trade-economic cooperation.