Opportunities for increasing trade between Uzbekistan and Saudi Arabia discussed
Tashkent, Uzbekistan (UzDaily.com) -- On 4 May 2021, in Mecca, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov discussed with the Minister of Commerce of the Kingdom of Saudi Arabia Majid bin Abdullah al-Kassabi the prospects for increasing trade cooperation between two countries and practical measures to increase the Uzbek-Saudi trade turnover.
Significant potential for the development of mutual trade was noted and mutual readiness was expressed to establish close practical cooperation to eliminate existing trade barriers and establish direct ties between manufacturers of the two countries.
The parties welcomed the approval of a joint program of technical cooperation between the Uzstandard Agency and the Saudi Agency for Standardization, Metrology and Quality in the fields of standardization, metrology and conformity assessment.
An agreement was reached to intensify cooperation between the customs services of the two countries in order to sign an interdepartmental agreement on cooperation in the field of customs regulation and information exchange.
The parties also agreed at the level of the working group to identify new "points of growth" of bilateral cooperation in trade, investment and tourism and take measures for their early implementation.
As a result of the meeting, agreements were reached that determine the format and goals of further cooperation.