Ambassador of Uzbekistan to Tehran H.E. Fariddin Nasriev Is Seen Addressingthe Iran-Uzbekistan Business Forum in Tashkent, Uzbekistan, on September 19
TEHRAN (Iran News) This event was organized in cooperation with Uzbekistan Ministry of Foreign Affairs and its Embassy in Tehran as well as the Chamber of Commerce and Industry, the Tashkent city administration, and the Iranian side.
The ceremony was attended by Davron Vahabov, President of the Uzbekistan Chamber of Commerce and Industry, Samad Hassanzadeh, President of the ICCIMA, heads of relevant ministries and departments, industrial associations, and representatives from more than 200 business communities from both countries.
Davron Vahabov, addressing the forum participants, thanked the large Iranian trade delegation for their visit and expressed hope that such events would provide further opportunities to strengthen trade and economic relations between our countries.
The main focus of this meeting was on enhancing bilateral relations between the business circles of the two countries as a key factor in further developing investment, trade, and economic cooperation between the Republic of Uzbekistan and the Islamic Republic of Iran.
As part of the event’s program, presentations were made on the most promising areas for attracting investment, as well as Uzbekistan’s investment potential in priority sectors and proposals for ready-to-implement projects.
It was happily noted that friendly and neighborly relations between the two countries are rapidly developing. In 2023, bilateral trade turnover amounted to $503.4 million, with exports at $180.6 million and imports at $322 million. From January to August 2024, bilateral trade reached $314.7 million, with exports at $105.9 million and imports at $208.8 million.
Today, there are 268 enterprises in Uzbekistan with Iranian capital participation, including 121 joint ventures and 147 foreign companies.
The event discussed promising projects in sectors such as industry, innovation, agriculture and water management, food, fisheries, construction materials, medicine and pharmaceuticals, textiles, logistics, and mechanical engineering. B2B negotiations were also held between representatives of the Iranian business community and entrepreneurs from Tashkent.
Addressing the event, President of ICCIMA Mr. Hasanzadeh said: “Iran and Uzbekistan possess significant potential in various economic sectors in the region. If the existing obstacles are removed, we will witness remarkable growth in exchanges and collaborations.”
He added: “Another important issue in financial exchanges is the restrictions that have affected certain goods since last year, which are fundamentally outside the scope of economic sanctions. It is essential to resolve this problem with the assistance of the respected government of Uzbekistan.”
Hasanzadeh reiterated “A crucial concern for us in increasing trade between the two countries is the facilitation of transportation to reduce the overall cost of exchanging goods between them due to their close proximity. Additionally, transit cooperation between Iran and Uzbekistan, along with the active use of the facilities and advantages of free trade zones, ports, and road and rail transport in both countries, remains a significant topic of mutual cooperation. Geographically, Iran is situated in a region where trade through its transit routes is beneficial for all, as it is connected by the North-South and East-West corridors. Therefore, I invite Uzbek economic actors and investors to invest in the International North-South Corridor and the Makran Coast project in Jask.”
He further said: “We hope to see increased cooperation between the private sectors and chambers of commerce of both countries. The exchange of information and trade laws to familiarize traders, along with the exchange of business delegations and participation in international and specialized exhibitions to showcase the industrial capabilities of both sides, will be crucial in enhancing the volume of trade between Iran and Uzbekistan. It is necessary to hold joint seminars to familiarize traders with each other’s economic and commercial potentials and opportunities.”
Hassan Zadeh concluded: “Uzbekistan is one of our important target countries for cooperation and development in all fields, especially in the economy. I hope that through exchanging views and bilateral negotiations between Iranian and Uzbek economic actors and companies, we will witness an even greater expansion of relations in trade, industry, and joint investment, moving towards the establishment of long-term economic relations.”
Meanwhile earlier on Wednesday, a meeting between Uzbek officials and a delegation led by Hasanzadeh, the President of ICCIMA, took place at the building of the Uzbek Chamber of Commerce and Industry.
This event was organized at the initiative of the Embassy of Uzbekistan in Iran.
In this event, Hasanzadeh, Vice President of ICCIMA, Mousa Aghaei, President of the Iran-Uzbekistan Joint Chamber of Commerce and Industry, Mohammad Eskandari, the Ambassador of the Islamic Republic of Iran to Tashkent, and representatives of about 15 Iranian companies active in textiles, building materials, agriculture, pharmaceuticals, and hygiene products participated.
On the Uzbek side, Duran Vahabov, President of the Chamber of Commerce and Industry, his deputy Delshad Rasulov, and Fariddin Nasriev, Uzbekistan’s Ambassador to Iran, were present.
The two sides discussed further expanding economic and commercial cooperation between Iran and Uzbekistan, increasing trade volume, and addressing issues related to exports and imports between the two countries.
At the end of the meeting, they reached an agreement on expanding bilateral cooperation, which will be an important step in strengthening the economic relations between the two countries.
It is worth noting that a large delegation from Iran, led by Hasanzadeh, including heads of over 60 large and leading Iranian companies, has arrived in Uzbekistan.
Additionally, as part of these meetings, “B2B” sessions are being held between Iranian business circles and entrepreneurs from Khwarazm province and Tashkent.
As part of this visit, the Iranian delegation met with relevant ministries and departments of Uzbekistan and visit free industrial zones. Additionally, a joint business forum between the Republic of Uzbekistan and the Islamic Republic of Iran was held in Khiva on Friday.
