Uzbekistan and Kyrgyzstan to boost mutual trade up to $500 million

Almaty. December 14. Silkroadnews - In the coming years, Uzbekistan and Kyrgyzstan will try to boost the volume of mutual trade up to $500 million, the Uzbek Telegraph Agency (UzTAG) reported.
The plans were voiced within the framework of the continued talks between the presidents of Uzbekistan and Kyrgyzstan Shavkat Mirziyoyev and Sooronbai Jeenbekov.
“The volume of trade between our countries is growing rapidly. In period from January to November this year, mutual trade volume grew by more than 56 percent and reached over $235 million. However, as it was noted at the talks, this does not reflect the true potential of the states. The parties noted the great potential to diversify the range of bilateral trade and bring its volume up to $500 million in the coming years,” the presidential press service said.
The parties have noted the need for active development of foreign trade infrastructure and mechanisms to support export-import operations, creation of joint trading houses, conducting business forums and national exhibitions of industrial products.
During the official visit of the President of Kyrgyzstan an exhibition of industrial products of Uzbekistan was organized and business negotiations were held, in which a large number of entrepreneurs from both countries took part, contracts worth about $ 140 million were signed, which reflects the dynamic development of trade and economic relations.
The parties noted the importance of the practical implementation of projects on the organization of assembly production of Uzbek agricultural machinery, cars, buses, special trailers, household appliances on the territory of the Kyrgyz Republic, as well as the establishment of joint ventures in the textile and construction materials industries.