Uzbekistan, Saudi Arabia sign a package of agreements worth $6.4 billion

The event was attended by the Minister of Investments and Foreign Trade of Uzbekistan Jamshid Khodjayev, the Minister of Investments of Saudi Arabia Khalid al-Falih, heads of ministries, departments and over 100 leading companies of both countries, the press service of the Ministry of Investments reported.

During the event, promising areas for investment cooperation were identified – oil and gas and petrochemical industries, mechanical engineering, electrical, food, textile and leather and footwear industries, sericulture, infrastructure construction and tourism.

“We can create joint ventures both in Uzbekistan and in Saudi Arabia, aimed at the production of high value-added products with further export to regional and European markets, as well as to the countries of the Greater Arab Free Trade Area with a total population of more than 1.4 billion potential consumers,” Jamshid Khodjayev noted in his speech.

Also during the negotiations in the “B2B” and “G2B” formats, the mutual interest of business circles in building ties and working together was confirmed.

Following the forum, a solid package of documents was signed for a total of $6.4 billion in priority sectors. Their implementation will significantly expand the scale of multifaceted cooperation between Uzbekistan and Saudi Arabia, create new jobs and bring interaction between the business circles of the two countries to a higher level.