The 15th meeting of the Uzbek-Iranian IPC was held in Tashkent

    Business 1 June 2023 1164

    On May 31 of this year, the 15th meeting of the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation between the Republic of Uzbekistan and the Islamic Republic of Iran (IPC) was held in Tashkent.

    The event was co-chaired by the Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov from the Uzbek side and the Acting Minister of Industry, Mines and Trade of the Islamic Republic of Iran Said Mahdiy Niyoziy from the Iranian side. The meeting was also attended by the heads of key ministries and departments of the two countries.

    As part of the agenda of the meeting, the parties comprehensively considered the current state and prospects for the development of mutually beneficial cooperation in the investment, trade, economic, transport and logistics spheres and industrial cooperation.

    The positive dynamics of trade and economic cooperation was noted: over the past three years, the mutual trade turnover between the two countries has almost doubled. Stressing the importance of increasing cooperation in this direction, the parties expressed their readiness to increase the volume of mutual supplies, including chemical industry products, equipment, construction materials, silk, textiles, electrical engineering and food.

    In order to ensure sustainable growth of trade turnover, the parties agreed to sign a Program of practical measures to bring trade turnover to $ 1 billion per year, accelerate the adoption of the Preferential Trade Agreement, as well as hold exhibitions Made in Iran and Made in Uzbekistan on a reciprocal basis on the territories of both countries. In addition, a Working Group will be created to identify and eliminate barriers to mutual trade.

    Further steps to develop investment cooperation and industrial cooperation were discussed. Over the past five years, the number of enterprises with Iranian capital in Uzbekistan has tripled to 420. The parties confirmed their mutual readiness to attract large companies of the two countries to implement new joint projects in industries of mutual interest.

    Concrete measures have been agreed to deepen cooperation in the field of agriculture and food security, and to develop cooperation in the cultural and humanitarian sphere.

    Following the meeting, the Final Protocol was signed, reflecting all the bilateral agreements reached during the negotiations and aimed at comprehensively deepening Uzbek-Iranian cooperation.

    As part of the agenda, a round table was also held, organized in order to activate trade, economic and investment relations, support Iranian investors working in Uzbekistan, and expand direct interaction between representatives of the business community of the two countries, the press service of the MIPT reports.