The co-chairman of the commission from the Uzbek side is Minister of Foreign Economic Relations, Investment and Trade of Uzbekistan Elyor Ghaniev, and from Turkmen side – Minister of Trade and Foreign Economic Relations of Turkmenistan Bayar Abayev. Joint protocol was signed in the result of the session.

Trade relations between two states are regulated by the intergovernmental cooperation on main directions of long-term trade-economic cooperation, signed in January 1996.

Trade turnover between two states is growing gradually. In 2011, trade turnover made up US$454.3 million in 2011, and US$197 million in January-June 2012.

Currently, there seven joint ventures in Uzbekistan with Turkmen capital, including one with 100% Turkmen investments. They work in such areas as construction services and production of construction materials. Residence of Uzbekistan opened six enterprises in Turkmenistan.

During the meeting, the sides rated economic potential of two states in context of close good-neighborhood relations, perspectives of bilateral trade-economic cooperation. They also determined concrete tasks of developing bilateral cooperation.

It was said Uzbekistan is ready to deliver high quality goods to Turkmenistan, including agriculture equipment, cars and lorries, electronics, chemical goods, medicaments, metal products, etc.