New horizons of economic cooperation between Turkiye and Uzbekistan discussed
Tashkent, Uzbekistan (UzDaily.com) -- On 24 November, Tashkent hosted a symposium on "New horizons for economic cooperation between Turkiye and Uzbekistan", organized by the Turkish Economic Research Foundation and the Chamber of Commerce and Industry of Uzbekistan.
The event was opened with a welcoming speech by President of the Turkish Economic Research Foundation Professor Ahmet Incekara, First Deputy Chairman of the Senate of the Republic of Uzbekistan Sadyk Safayev, Chairman of the Chamber of Commerce and Industry of Uzbekistan Davron Vahabov, Coordinator of the Turkish Cooperation and Coordination Agency (TIKA) Cemalettin Tunay, Ambassador Extraordinary and Plenipotentiary of the Turkish Republic in Uzbekistan Olgan Bekar, as well as the Deputy Minister of Trade of Turkiye Sezay Ucharmak.
In his speech, Davron Vakhabov noted that today Turkiye is one of the 5 largest trading partners of Uzbekistan, he also recalled that in January-October 2022, the trade turnover between Uzbekistan and Turkiye amounted to US$2.69 billion, in particular, exports – US$1.28 billion (-5.5%), imports – US$1.4 billion (+4.1%).
Turkiye is a large and important economic partner of Uzbekistan. Today, Turkish entrepreneurs are among the first to participate in investment projects in our country.
As of 1 November 2022, 2,130 enterprises operate in the Republic of Uzbekistan with the participation of Turkish investors. Of these, 811 are joint ventures and 1319 are foreign enterprises operating on the basis of 100% Turkish capital.
The main activities of these enterprises are: textile industry, trade, transport and logistics, provision of various services, construction, furniture production and others.
The purpose of this symposium is to explore the economic profile of Uzbekistan and Turkiye, in particular, the potential for mutual cooperation, including the current and future role of foreign trade between the two countries.
As part of the panel sessions with the participation of officials from ministries, departments, representatives of Turkish and Uzbek organizations, as well as higher educational institutions, presentations and lectures were heard on topics such as freedom of labor and development prospects in Uzbekistan, the use of artificial intelligence in animal husbandry, the contribution of business and non-governmental organizations in the country’s economy, the world economy and trading in crypto-currencies and digital currencies, the success story of Uzbek companies exporting to Turkiye, as well as the success of companies investing in Uzbekistan.
Also, within the framework of the symposium, B2B meetings were held between representatives of business circles working in the fields of agriculture, construction, water supply, furniture production and legal services.
It should be noted that such symposiums are of great importance in improving the investment climate between the two countries, in addition, they give a new and useful impetus to the activities of entrepreneurs and have a positive effect on the economy of our country.