Uzbekistan welcomes Iranian investment in its economy
Uzbekistan’s Prime Minister Abdulla Nigmatovich Aripov said his country welcomes Iranian investors and private sector’s contribution to its economy.
The Uzbek prime minister also said that the level of trade between the two countries has increased in recent months compared to the same period last year, however it is still not at the level it should be.
He pointed to transportation as an important area for the development of Tehran-Tashkent economic cooperation.
He also noted that the two countries economies should complement each other and added that “Hopefully after holding Iran-Uzbekistan Joint Economic Committee meeting in the near future, we would see the two countries economic relations develop significantly”.
Jahangiri, for his part voiced Iran’s readiness for signing a comprehensive memorandum of understanding (MOU) with Uzbekistan for transport cooperation between the two nations.
He underlined the great economic capacities of Iran and Uzbekistan, saying that the two countries should take necessary measures to remove barriers to the trade development between the two countries so that the two sides could reach a comprehensive agreement on trade cooperation as soon as possible.
Trade History
Both countries have agreements between themselves to cooperate in various fields including:
- Agriculture
- Transport
- Oil and gas production
- Construction
- Pharmaceuticals
- Banking
The two nations have also worked on overland links and other joint ventures.
Uzbekistan exports many commodities to Iran including:
- Cotton
- Ferrous and non-ferrous metals
- Fertilizers
- Chemical fibers.
Iran exports the below mentioned items to Uzbekistan:
- Construction materials
- Detergents
- Foods
- Tea
- Fruits
The Iranian-Uzbekistan trade turnover exceeded $600 million in 2008.
Source:
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