Uzbekistan, Kyrgyzstan sign contracts for $140 million

By Azernews

By Kamila Aliyeva

Uzbekistan and Kyrgyzstan signed about 60 contracts and agreements worth $140 million in the framework of the business forum held in Tashkent on December 13.

Uzbekistan’s Foreign Trade Ministry and Kyrgyzstan’s Economy Ministry signed a framework agreement on the development of cooperation in the field of trade finance, as well as a joint plan on practical actions (road map) for the development of trade-economic, investment and transport-communication cooperation.

In addition, contracts were signed for the supply of Uzbek fruit and vegetable products, juices, nectars and juice-containing beverages to Kyrgyzstan. Separate documents touched upon cooperation between the territorial departments of the chambers of commerce and industry in the regions of the two countries.

According to the head of the Uzbek Chamber of Commerce and Industry Adham Ikramov, who spoke at the opening of the forum, over the past year Uzbek and Kyrgyz entrepreneurs have significantly increased the level of interaction, including through participation in exhibitions held on the territory of the two states.

The business forum is aimed at expanding trade ties between the business circles of the two countries, increasing the number of new joint ventures and bilateral trade. In total, over 100 companies from Kyrgyzstan engaged in such fields as engineering, construction industry, food and packaging industry, light industry, information technologies took part in the event.

Uzbekistan and Kyrgyzstan are discussing the creation of a border trade zone, Kyrgyz Economy Minister Artem Novikov said.

The Kyrgyz side also proposed to expand trade and economic cooperation by creating joint trade and logistics centers in Kyrgyzstan.

“In trade and economic relations, the key issue should not be the competition between our states, but the joint exploration of the markets of third countries. As the agreements reached and existing contracts are implemented, we will see what problems arise in the business on a regular basis, and solve all existing issues step by step,” he said.

Uzbekistan-Kyrgyzstan trade turnover rose by twofold in the first half of the current year and it is expected that the volume of bilateral trade will total $280 million in late 2017. Over the next two years, it is planned to bring the turnover up to $500 million.