Tashkent, Uzbekistan (UzDaily.com) -- The Ministry of Investment, Industry and Trade, the Ministry of Energy of the Republic of Uzbekistan and the Ministry of Investment of the UAE signed a Memorandum of Understanding (MoU) aimed at developing investment cooperation in priority sectors of the economy, including the production, transmission and distribution of renewable energy energy.

The ceremony was attended on the Uzbek side by the Minister of Investment, Industry and Trade Laziz Kudratov and the Minister of Energy Jurabek Mirzamakhmudov, and on the Emirati side by the UAE Minister of Investment Muhammad al-Suwaidi.

The forms of cooperation stipulated by the agreement include the identification, exchange and assessment of projects and investment opportunities in the production of wind, solar, hydroelectric power plants, as well as the construction of energy storage facilities.

For the effective implementation of this document, a joint plan for follow-up activities will be developed, which will include specific mechanisms and identification of responsible structures for the timely fulfillment of accepted obligations.