Minister of MIIT in Uzbekistan, Laziz Kudratov, played a pivotal role in fostering economic collaborations during his participation in the 39th meeting of the Standing Committee on Economic and Trade Cooperation of the Organization of Islamic Cooperation (OIC) in Istanbul, Turkey, Government portal of Uzbekistan reported.
The event, focused on reinforcing partnerships among OIC member states, delved into various sectors, including trade, finance, transport, communications, agriculture, tourism, poverty reduction, and digital transformation.
Bilateral Engagements
Within the meeting's framework, Minister Kudratov engaged in bilateral discussions with counterparts from several OIC member states. Notably, a tripartite meeting with the Minister of Trade of Pakistan, Gohar Ejaz, led to discussions on the "Roadmap" for cooperation in trade-industry, finance, banking, transport-logistics, and agriculture.
The establishment of the Preferential Trade Agreement in 2022 resulted in a 40% increase in trade volume between Uzbekistan and Pakistan. Both nations expressed interest in exploring the prospects of developing a Free Trade Agreement.
Similarly, discussions with the Minister of Trade of Turkey, Omer Bolat, focused on expanding trade volumes, reaching $2.6bn in October. The parties agreed to formulate a procedure for mutual recognition of certificates of conformity and proposed creating a product list to reduce fees.
An agreement was reached with UAE Minister of Economy Abdulla Al-Mari to expedite the preparation of a "Roadmap" covering logistics infrastructure, banking and insurance, stock market development, mining and processing, artificial intelligence cooperation, programming, and data processing. Over the past five years, enterprises with UAE capital in Uzbekistan have increased by 2.5 times, reaching 240. The trade volume with the UAE exceeded $500mn in 2022, prompting the activation of joint events and business forums.
Transport and Logistics Collaboration
Transport and logistics cooperation took center stage in negotiations with foreign colleagues. The importance of diversifying transport lanes, increasing cargo transportation, simplifying transit processes, and developing transport infrastructure were highlighted.
Concrete Steps and Future Cooperation
The meetings concluded with a shared commitment to deepening multilateral partnerships and implementing concrete measures for practical cooperation. Systematic monitoring of existing agreements was emphasized to ensure the effective implementation of collaborative initiatives.
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