Uzbekistan and Turkey intend to bring trade turnover to $ 5 billion

July 30, 2020, 11:21

Ankara hosted a meeting of the Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov with the Minister of Trade of Turkey Rukhsara Pekjan.

During the conference, the parties noted a steady growth in the scale of trade and economic partnership between the two countries. For example, in 2019, the volume of trade amounted to $ 2.5 billion, which is 22.7% higher compared to 2018. 

In this regard, the Uzbek and Turkish sides set a new goal - to increase the volume of mutual trade to $ 5 billion in the short term, despite the pandemic and its negative consequences.

Umurzakov and his colleague also noted the need to strengthen cooperation between the quarantine services of the two countries as part of the joint development of an Agreement on cooperation in the field of plant quarantine.

As expected, this document will reduce the costs of Uzbek and Turkish entrepreneurs when exporting products to the markets of both countries.

Separately, the parties dwelled on the issue of strengthening cooperation in the field of transport and logistics. Recall: in January of this year, Uzbekistan, Kyrgyzstan, Turkmenistan, Azerbaijan and Georgia signed a protocol on the introduction of tariff discounts ranging from 50% to 70% for cargo transportation.