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    Uzbekistan and Saudi Arabia signed agreements and contracts worth $ 14 billion

    International cooperation 18 August 2022 670

    Following the results of the Uzbek-Saudi Business Council, agreements were reached in the energy, chemical, electrical engineering, infrastructure development, agriculture, pharmaceuticals, information technology and transport.

    President of the Republic of Uzbekistan Shavkat Mirziyoyev arrived in Jeddah on August 17 as part of a state visit to Saudi Arabia.

    The sides discussed issues of further expansion of mutually beneficial ties in the political, trade, economic, investment, cultural and humanitarian spheres. The necessity of creating even more favorable conditions for increasing contacts of business circles, increasing the volume and diversification of the structure of mutual trade was noted. Much attention in the negotiations was also paid to the introduction of the principles of digital and "green" economy.

    The President of Uzbekistan invited leading Saudi companies to take an active part in the privatization of commercial banks, large industrial facilities and infrastructure of Uzbekistan. One of the important steps in this direction was the introduction of a visa-free regime for citizens of Saudi Arabia to enter Uzbekistan.

    In addition, the parties expressed mutual interest in building up partnership in the field of energy and petrochemicals. Currently, together with ACWA Power, the implementation of large energy projects worth 2.6 billion US dollars has been launched. It was noted that the partnership with Sabic in the chemical industry has promising prospects.

    At the same time, the IV Meeting of the Uzbek-Saudi Business Council was held in Jeddah. It was attended by the heads of more than 30 major Saudi companies, such as ACWA Power, Dr. Sulaiman Al-Habib Medical Group, Jamjoom Pharma, Al-Rajhi International Investment, Flynas, Al Safeer Travel, Tourism and Umrah Services, Silk Road Co., Alfaris International Group, Al-Moatasem Trading Company, United Feed, Nesma Infrastructure & Technology, Mepco, Almutlaq Group, Umm Al Qura Development & Construction, Bin Dawood Holding Company, Batterjee Group Company, BMG Financial Advisor and others.

    As a result of the meeting, agreements were reached in the energy, chemical, electrical engineering, infrastructure development, agriculture, pharmaceuticals, information technology, transport and 15 agreements and contracts worth more than $14 billion were signed.

    Public Relations Service of the CEIR.