The Turkish Investment Fund establishment agreement has been ratified through a presidentially signed law, the "Legal Information" channel reports.
As per the law, the funds allocated from Uzbekistan's Reconstruction and Development Fund are designated for creating Uzbekistan's stake in the Turkish Investment Fund, adhering to the terms outlined in the agreement. This includes subscribing to 2,000 shares in the fund's initial capital and serving as a source for covering private expenses.
The Ministry of Investments, Industry, and Trade has been appointed as the authorized body responsible for executing the agreement, while the Central Bank will act as the custodian of the agreement.
Notably, during the summit of the Organization of Turkic States held in Samarkand in November 2022, an agreement was reached at the 11th meeting of the economy and trade ministers of member states to expedite the signing of the Investment Fund of the Organization of Turkic States establishment agreement. This agreement will serve as a solid foundation for the implementation of significant joint projects and initiatives.
Earlier, it was reported that President Shavkat Mirziyoyev of Uzbekistan is scheduled to embark on a working visit to Astana, Kazakhstan, from November 2-3. The visit comes as an invitation from President Kassym-Jomart Tokayev. It aims to facilitate the participation of President Mirziyoyev in the Council of Heads of State meeting of the Organization of Turkic States.
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