Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan and Kazakhstan plan to create a joint foreign trade company and an international center for industrial cooperation. This was announced by the Deputy Prime Minister for Investments and Foreign Economic Relations - Minister of Investments and Foreign Trade Jamshid Khodjaev during a business forum between entrepreneurs of Uzbekistan and Kazakhstan.

In recent years, the trade turnover between Uzbekistan and Kazakhstan has more than doubled. According to him, by the end of 2022, trade between the countries will approach US$5 billion.

Jamshid Khodjaev said that the countries plan to increase the trade turnover to US$10 billion, including through active import substitution. “In order to achieve this goal, a joint foreign trade company will be created in the near future,” the Deputy Prime Minister said.

It is most significant to combine the efforts of the two countries to create high-tech industries based on the comparative advantages of Uzbekistan and Kazakhstan and develop industrial cooperation for the production of high value-added products for further joint development of third-country markets, he noted.

In this regard, the signing of an agreement with Kazakhstan on the establishment of an international center for industrial cooperation is expected tomorrow, Khodjaev said.