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    Uzbekistan

    Uzbekistan-UAE partnership hits $475.7mn in trade volume

    Uzbekistan-UAE partnership hits $475.7mn in trade volume

    The ongoing partnership between the Senate of the Oliy Majlis of Uzbekistan and the Federal National Council of the United Arab Emirates (UAE) is set to enter a new era of practical collaboration. The talks in Dubai marked a significant step forward in the multifaceted relationship between the two nations, the Senate Of Oliy Majlis reported.

    Tanzila Narbayeva, the Chairman of the Senate of the Oliy Majlis,  with Saqr Ghobash, the Chairman of the Federal National Council of the UAE.
    Photo: Tanzila Narbayeva, the Chairman of the Senate of the Oliy Majlis,  with Saqr Ghobash, the Chairman of the Federal National Council of the UAE
    Source: the Senate Of Oliy Majlis

    A delegation, led by Tanzila Narbayeva, the Chairman of the Senate of the Oliy Majlis, was in Dubai to participate in the parliamentary session of the UN Climate Change Conference. During the visit, constructive discussions were held with Saqr Ghobash, the Chairman of the Federal National Council of the UAE.

    Over the past few years, bilateral relations between Uzbekistan and the UAE have grown significantly, encompassing political, trade, economic, and environmental cooperation. The meeting emphasized the importance of expanding inter-parliamentary dialogue to solidify these ties further.

    Tanzila Narbayeva, the Chairman of the Senate of the Oliy Majlis,
    Photo: Tanzila Narbayeva, the Chairman of the Senate of the Oliy Majlis,
    Source: the Senate Of Oliy Majlis

    One notable aspect of the flourishing partnership is the remarkable increase in mutual trade. In the period from January to September 2023, the trade volume reached $475.7mn, marking a 40% increase compared to the same period in the previous year. The exponential growth in mutual trade is a testament to the strengthening economic bonds between the two countries.

    The UAE's investments in Uzbekistan have also seen substantial growth, with the number of enterprises with UAE participation increasing by 2.5 times over the past five years. The "Green" portfolio, comprising investment projects in sectors such as energy, agriculture, transport and logistics, and tourism infrastructure, has now surpassed $4bn.

    Saqr Ghobash, the Chairman of the Federal National Council of the UAE.
    Photo: Saqr Ghobash, the Chairman of the Federal National Council of the UAE
    Source: the Senate Of Oliy Majlis

    Both parties expressed optimism about the potential to further elevate these figures in the coming years, highlighting the need for active involvement from the parliamentary bodies of both countries.

    The importance of interparliamentary cooperation was underscored as a crucial mechanism for fostering relations at all levels. The discussions included plans to enhance collaboration in areas such as law-making and parliamentary control. The necessity of systematic parliamentary oversight to ensure the execution of tasks outlined in agreed-upon "roadmaps" was emphasized. Additionally, the revitalization of "friendship groups," seen as an essential element of people's diplomacy, was discussed.

    Constructive discussions held between Tanzila Narbayeva and Saqr Ghobash pave the way for enhanced collaboration
    Photo: Constructive discussions held between Tanzila Narbayeva and Saqr Ghobash pave the way for enhanced collaboration
    Source: the Senate Of Oliy Majlis

    Commitments were made to sustain collaboration within international organizations, including the United Nations, the Inter-Parliamentary Union, and the Organization of Islamic Cooperation.

    In a gesture of goodwill, Tanzila Narbayeva extended an invitation to Saqr Ghobash to visit Uzbekistan in 2024, solidifying the commitment to ongoing diplomatic and economic ties between the two nations. The discussions held in Dubai mark a significant stride towards a future characterized by increased cooperation and shared prosperity.

     

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    08.12.2023, 20:16   Comments (0)   2582
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