Jun 17, 2023, 4:48 PM
News ID: 85143002
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Iran, Uzbekistan eye $1 billion in annual bilateral trade

Jun 17, 2023, 4:48 PM
News ID: 85143002
Iran, Uzbekistan eye $1 billion in annual bilateral trade

Tehran, IRNA –Iran's Minister of Industry, Mine, 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 as well as signing various agreements and ways to develop bilateral ties.

After the meeting, Aliabadi said that appropriate infrastructure should be created for businesses of Iran and Uzbekistan, including better customs processes, to enable them increase exchanges between the two countries.

The Uzbek minister, for his part, said that in the 15th meeting of Iran-Uzbekistan intergovernmental commission held in Uzbekistan had led to some good agreements between the two countries, adding that the two countries have agreed to prepare a roadmap to reach a $1 billion in bilateral trade.

Kudratov added that a mechanism is being designed so that Iran and Uzbekistan can significantly increase the volume of their trade within next one or two years.

The 15th meeting of the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation (IGC) between the Republic of Uzbekistan and the Islamic Republic of Iran was held in Tashkent on May 31 this year.

The event was co–chaired by Kudratov and Iran's Acting Minister of Industry, Mines and Trade Seyyed Mehdi Niazi. The meeting was also attended by the heads of key ministries and departments of the two countries.

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