The delegations of the two countries were headed by: on the Uzbek side - Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov, on the Kuwaiti side - Minister of State for Economy and Investment of Kuwait Nura Suleiman Al-Fassam.

In accordance with the agenda, the parties reviewed the current state of trade, economic and investment partnership between the two countries and outlined specific measures to further increase the scale of cooperation.

For reference: over the past five years, the trade turnover has increased more than 5 times, mainly due to an increase in mutual supplies of food, chemical products and services. There are 7 enterprises with the participation of Kuwaiti capital in Uzbekistan.

Speaking with a welcoming speech at the IPC meeting, Laziz Kudratov noted the importance of making comprehensive efforts to fully exploit the potential for the development of Uzbek-Kuwaiti cooperation. These include measures to expand the range of trade based on the analysis of the markets of both countries, the development and signing of an Agreement on preferential trade, the expansion of cooperation in the field of electronic commerce, the removal of barriers and the mutual holding of exhibitions "Made in Uzbekistan" "Made in Kuwait".

The great opportunities opening up for large Kuwaiti companies in the free economic zones of Uzbekistan, including tax, customs privileges and preferences, access to raw materials and engineering communications, were noted. Uzbek companies also have sufficient experience and capabilities to establish production in the FEZ of Kuwait. Agreements have been reached on the development of an Industrial Cooperation Program and an agreement on bilateral investment agreements in the very near future.

During the constructive exchange of views, joint positions were developed on the development of cooperation in the banking and financial sector, the participation of Kuwaiti companies in the privatization program of Uzbekistan, agriculture, tourism, transport and logistics, and environmental protection.

The readiness to take comprehensive support measures at every stage was expressed: from identifying promising investment opportunities to the creation and development of business by Kuwaiti companies in Uzbekistan.

In turn, Minister of State for Economy and Investment and head of the Kuwaiti delegation, Nura Suleiman Al-Fassam, also noted the great attention paid in Uzbekistan to improving the business climate, ensuring the openness of the economy and protecting the rights of investors. All these measures are a solid foundation for the growth of trade and economic cooperation, and the confidence of Kuwaiti business in Uzbekistan. The Minister expressed readiness to provide full support to new initiatives, ensure timely implementation of existing agreements and facilitate the attraction of Kuwaiti companies to our country.

Following the event, a signing ceremony was held for a memorandum on trade facilitation, as well as the minutes of the first meeting of the Uzbek-Kuwaiti Intergovernmental Commission.

As noted by the heads of delegations, the signed documents open a new chapter in the development of partnerships in priority sectors of the economies of both countries, creating new opportunities for mutual growth and development.