Tashkent, Uzbekistan (UzDaily.com) — The Minister of Investments, Industry, and Trade of Uzbekistan, Laziz Kudratov, held a meeting with the Ambassador Extraordinary and Plenipotentiary of Estonia to Uzbekistan, Jaap Oraa, during which the current state and prospects for expanding bilateral cooperation were discussed.

As a result of the constructive exchange of views, new opportunities were identified for increasing the volume and expanding the range of mutual trade.

In 2024, trade turnover between the two countries reached nearly US$150 million, showing a 20% increase, mainly driven by services, heavy machinery products, and medical equipment.

Both sides expressed a shared position on the need to take additional measures to further increase trade turnover. Specifically, they discussed the use of the ports of Tallinn, Muuga, Pärnu, and Sillamäe to diversify export routes for Uzbek products to the markets of Northern and Western Europe.

The meeting also addressed steps to strengthen investment partnerships and industrial cooperation. Currently, there are 31 enterprises with Estonian capital operating in Uzbekistan.

During the meeting, plans were agreed to involve the business communities of both countries in implementing new projects in the fields of green energy, IT technologies, water management, pharmaceuticals, transport, and logistics.

At the conclusion of the meeting, both sides confirmed their readiness to deepen cooperation in all the discussed areas and agreed on a schedule for joint activities in 2025.