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    Uzbekistan World Economics

    Uzbekistan plans to establish trading houses with Mongolia

    Uzbekistan plans to establish trading houses with Mongolia

    Plans were unveiled to set up trading houses and organize industrial exhibitions in both, Uzbekistan and Mongolia, as it was disclosed in a meeting of President of Uzbekistan Shavkat Mirziyoyev and President of Mongolia Ukhnaagiin Khürelsükh, with business leaders from both nations on June 24.

    Leaders from prominent Mongolian companies such as MCS Investment, Tavan Bogd Group, and Khanbogd Cashmere, alongside representatives from Uzbek firms like Basalt Uzbekistan and BMB Holding, explored new avenues for bilateral trade and industrial cooperation.

    Mirziyoyev highlighted the historic nature of Khürelsükh’s state visit, the first of its kind, pointing out the mutual commitment to strengthening Uzbekistan-Mongolia relations. He remarked, 

    "Mongolia is a traditional and reliable partner for us in the Asian region. Uzbekistan-Mongolia relations are based on the principles of friendship, mutual respect, and support, and do not depend on the economic situation."

    Following productive meetings in Samarkand and Dubai, political dialogue between the two nations has been revitalized, exemplified by the opening of the Mongolian embassy in Tashkent.

    Expanding Trade and Industrial Collaboration

    Both leaders emphasized the importance of expanding trade by increasing the variety and volume of high-demand products. Additionally, proposals for preferential trade agreements and market access facilitation will be developed.

    Industrial cooperation emerged as a key focus, with plans to collaborate on geological exploration, mineral resource processing, livestock complex establishment, and deep processing of wool and leather in light industries. Specific proposals for these projects will be prepared, alongside a medium-term cooperation program.

    Supporting Private Business and Enhancing Connectivity

    Mirziyoyev assured Mongolian businessmen of favorable conditions in Uzbekistan, emphasizing the country’s ongoing economic reforms aimed at supporting private enterprise and advancing WTO accession. Khürelsükh praised the agreements and called for active cooperation from business representatives on new projects.

    A joint Business Council will be established, with its first meeting aimed at fostering new initiatives. Additionally, agreements on air and road transport were signed, paving the way for potential direct flights between the capitals and improved freight cost efficiency.

    Cultural and Educational Exchanges

    Both nations committed to enhancing exchanges in culture, art, education, tourism, youth, and sports. Plans include a special cooperation program and cultural days in Tashkent and Ulaanbaatar. Moreover, Uzbekistan proposed resuming education for Mongolian students in its leading institutions.

    The successful negotiations and agreements mark a new phase of comprehensive cooperation between Uzbekistan and Mongolia, with practical results anticipated in the near future. As Mirziyoyev concluded, 

    "The first state visit of the President of Mongolia to Uzbekistan was rightly historic and started a new stage of multilateral cooperation. I believe that we will soon see the first practical results of our great joint work."

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

    24.06.2024, 16:36   Comments (0)   1479
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    01.02.2024, 21:50

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    21.06.2024, 16:09

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    Uzbekistan and Mongolia explore possibility of direct flights between capitals

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