Domestic Economy

Iran, Uzbekistan Set $1b Target for Annual Trade

Iran, Uzbekistan Set $1b Target for Annual Trade
Iran, Uzbekistan Set $1b Target for Annual Trade

Iran's new Minister of Industries, Mining and Trade Abbas Aliabadi and his Uzbek counterpart Laziz Kudratov have discussed a plan to increase annual bilateral trade to $1 billion.
During a meeting in Tehran on Saturday, Aliabadi and Kudratov discussed boosting trade exchanges and signing various agreements to develop bilateral ties, IRNA reported.
After the meeting, Aliabadi said the appropriate infrastructure should be created for businesses of Iran and Uzbekistan, including better customs processes, to increase exchanges.
The Uzbek minister said the 15th Iran-Uzbekistan intergovernmental commission held in Uzbekistan led to agreements between the two countries, adding that the two countries have agreed to prepare a roadmap to achieve a $1 billion target in bilateral trade.
Kudratov noted that a mechanism is being designed so that Iran and Uzbekistan can significantly increase the volume of their trade within one or two years.
The 15th meeting of the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation between Iran and Uzbekistan was held in Tashkent on May 31.
The event, co–chaired by Kudratov and Niazi, was also attended by the heads of key ministries and departments of the two countries.
President of Uzbekistan Shavkat Mirziyoyev was expected to arrive in Tehran on June 18.
Iran Chamber of Commerce, Industries, Mines and Agriculture hosted the Iran-Uzbekistan Business Conference on June 17 in cooperation with the Iran-Uzbekistan Chamber of Commerce.
Representatives from 50 Uzbek companies attended the conference.

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