Tashkent, Uzbekistan (UzDaily.com) -- On 25 January, on the eve of the state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the Kyrgyz Republic, a business forum "Kyrgyzstan - Uzbekistan" was held in Bishkek. Members of governments, heads of relevant ministries, departments, industry associations, regional administrations, as well as more than 350 representatives of business circles of the two countries took part in its work.

In the speeches of the speakers at the opening ceremony of the Forum, it was emphasized that relations between Uzbekistan and Kyrgyzstan over the past five years have reached a qualitatively new level.

Thus, in particular, the trade turnover between the two countries during this period increased by 7 times to US$1.2 billion in 2022. At the same time, as it was announced, the economies of Uzbekistan and Kyrgyzstan have sufficient potential to overcome the US$2 billion mark in the near future, including by increasing mutual supplies of cement, coal, non-ferrous metals, agricultural and textile products, chemical fertilizers, household and commercial equipment, pharmaceuticals.

The priority direction of bilateral cooperation is also the development of industrial cooperation. Compared to 2016, the number of joint ventures increased 8 times to 320 units. Agreements have already been reached on the implementation of new projects in the areas of production of automotive and commercial vehicles, the launch of joint textile enterprises, the production of chemical products, as well as the introduction of electricity metering systems. Major landmark projects are being worked out, taking into account the complementarity of the two economies, including the development of deposits of iron, kaolin, travertine, basalt, followed by the production of high value-added products.

It is planned to use the competitive advantages of both economies in agriculture. We are talking about the development of intensive orchards and modern greenhouses, the joint cultivation of potatoes, corn and meat, the creation of joint livestock complexes.

A special role during the forum is assigned to strengthening interregional cooperation. Thanks to the creation of the Council of Khokims and heads of administrations of the border regions, as well as the establishment of sister city relations between Andijan and Osh, Namangan and Jalal-Abad, Ferghana and Batken regions, over the past 3 years, the trade turnover between these regions has doubled. Work will continue on holding business missions, exhibitions and forums, on realizing the tourism potential of the regions of the two countries.

The signing in September last year at the SCO Summit in Samarkand of the historic trilateral Agreement on the implementation of the China-Kyrgyzstan-Uzbekistan railway construction project was noted. The intensification of work on this strategic project is designated as a priority area for cooperation in the field of transport and logistics. This will allow diversifying traditional transit routes and expanding cargo transportation in the Central Asian region.

In order to organize systematic work, create conditions for constant interaction between entrepreneurs of the two countries, a special online platform will be developed, thanks to which business representatives will be able to conclude trade contracts, find ready-made industrial cooperation projects and select business partners.

As part of the business forum program, panel discussions and a round table were also held, during which participants could discuss in detail the prospects for economic cooperation, business cooperation and regional integration issues. The session of “B2B” negotiations that followed soon focused the attention of entrepreneurs and investors on the possibility of implementing new joint projects, and made it possible to determine the formats and intensity of further interaction in order to reach firm agreements.

As a result of the forum, a solid package of agreements was signed totaling more than US$1.6 billion in the chemical, electrical, automotive, textile industries, agriculture, production of building materials, leather goods and other areas.