Potential for 10-Fold Increase in Trade Volume Between Iran and Uzbekistan

TEHRAN (Iran News) According to the Alborz Chamber of Commerce, Industries, Mines, and Agriculture, the webinar was organized in coordination with Iran’s diplomatic mission in Uzbekistan. Discussions focused on exchanging economic and trade-related information and exploring ways to increase bilateral trade.

Parham Rezaei, President of the Alborz Chamber of Commerce, stated that the current annual trade volume between Iran and Uzbekistan stands at approximately $500 million. He highlighted Alborz’s industrial and manufacturing capabilities, particularly in small and medium-sized enterprises, which could create unique opportunities for exports to Uzbekistan.

Rezaei emphasized the significance of sending and receiving trade delegations between the two regions. Plans are underway to host an Uzbekistani trade delegation in Alborz soon. This delegation will include representatives from the pharmaceutical, food, cosmetic, and hygiene industries, providing an opportunity to establish mutually beneficial business relations. The delegation will also visit various factories in Alborz.

Highlighting Alborz’s strong commitment to enhancing trade relations, Rezaei noted that negotiations with Uzbek officials could significantly boost exports and economic growth in the region.

Iran’s Ambassador to Uzbekistan, Mohammad Ali Eskandari, elaborated on Uzbekistan’s industrial and manufacturing potential in agriculture, pharmaceuticals, food production, detergents, and cosmetics. He also pointed out opportunities in tourism, engineering services, and automotive parts manufacturing. Given Alborz’s strengths in these areas, he sees great potential for economic collaboration.

Eskandari underscored that Alborz could serve as a complementary economic partner for Uzbekistan, facilitating trade without affecting existing production capacities.

Since 2017, Uzbekistan has implemented economic and political reforms, positioning itself as a leading economy within Central Asia. Eskandari stated that given the industrial capabilities of both countries, the annual trade volume could potentially reach $5 billion.

The ambassador also highlighted Alborz’s strategic proximity to Tehran as an economic advantage that could bolster industrial activities and attract investment.

Eskandari noted that Uzbekistan currently produces only 20% of its pharmaceutical needs, presenting a significant opportunity for Iranian pharmaceutical companies to supply the market. He suggested forming a consortium to facilitate the registration of Iranian pharmaceuticals in Uzbekistan, which could reduce costs for Iranian manufacturers.

Additionally, he assured Iranian entrepreneurs that there are no obstacles to establishing businesses or opening bank accounts in Uzbekistan, encouraging seamless trade activities.

Ezzatollah Afzali, Deputy Governor of Alborz for Economic Affairs, highlighted the province’s readiness to collaborate with Uzbek companies in various sectors. He emphasized the importance of participating in trade exhibitions to showcase Alborz’s industrial capabilities.

Mohammad Ansari, Director General of Industry, Mines, and Trade in Alborz, suggested that in exchange for exporting pharmaceuticals, food products, and agricultural goods, Alborz could import essential raw materials for the province’s textile and clothing industries, such as cotton from Uzbekistan.

Farzin Behnamifar, Director General of Economic and Financial Affairs in Alborz, mentioned that the province has attracted $20 million in foreign investment over the past six months despite economic sanctions. He emphasized the province’s commitment to introducing investment opportunities to Uzbekistani companies and investors.”

Nader Zeinali, Director General of Cultural Heritage, Handicrafts, and Tourism in Alborz, expressed interest in developing tourism initiatives between the two countries. Given the cultural similarities, he proposed organizing pilgrimage and leisure tours.

Mohammad Ali Mokhtari, President of the Alborz Cooperative Chamber, highlighted the potential of the Payam Special Economic Zone and International Airport as a key advantage for economic collaboration. The special economic zone offers lower production costs, making it an attractive option for joint Iranian-Uzbek production initiatives.

Seyed Reza Seyed Aghazadeh, Deputy of International Affairs at the Alborz Chamber of Commerce, emphasized the importance of fostering long-term business relationships. He expressed optimism that the webinar would contribute to boosting exports and economic development in Alborz.

Aghazadeh stressed the need to establish a strong network of economic partnerships to facilitate Alborz’s growth and expansion into international markets.