Iran and Uzbekistan Aim to Boost Trade to $5 Billion
TEHRAN (Iran News) During a meeting with Uzbekistan’s Minister of Investment, Industry, and Trade, Mohammad Reza Aref emphasized the importance of recent high-level discussions between the two countries. He noted that two meetings had recently occurred, including one in Ashgabat between Iranian Vice President Dr. Peyman and the President of Uzbekistan, and another with Prime Minister Abdulla Aripov. Aref expressed concern over the low volume of trade, highlighting a mutual “discontent” regarding current economic exchanges.
Aref pointed out that the existing trade level, in the hundreds of millions of dollars, is inadequate for both nations. He stated that according to existing agreements, bilateral trade should reach $1 billion by the end of 2024. However, he welcomed the Uzbek Prime Minister’s proposal for a $5 billion trade target.
He urged the Uzbek minister to collaborate closely with Iranian officials to assess the capabilities of both countries across various sectors, stressing the need for expediting the implementation of signed agreements aimed at enhancing cooperation.
Aref also noted the necessity of convening the sixteenth joint commission, which Iran is set to host, and extended an invitation to the Uzbek Prime Minister to attend the meeting. He emphasized the significance of advancing trade relations in areas such as infrastructure, science, and new technologies, where several agreements have already been made.
The Vice President highlighted that a crucial first step in enhancing trade relations is to utilize preferential tariffs and expand the range of goods that benefit from these tariffs. He also underscored the importance of facilitating banking cooperation, calling for support for Iranian banks operating in Uzbekistan to foster future banking activities.
In the broader context of regional collaboration, Aref mentioned Iran’s recent participation as an observer in the Eurasian Economic Union, proposing a united front in the Eurasian market with Uzbekistan.
He noted that both countries share rich cultural heritage and tourism potential, suggesting that easy travel arrangements should be established to encourage exchanges between citizens and businesses. Aref urged the Uzbek government to consider abolishing visa requirements for Iranians to facilitate travel and commerce.
Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, acknowledged Iran’s advanced position in technology and expressed a desire to enhance cooperation in this domain. He highlighted Uzbekistan’s capability to export goods to Europe without tariffs on over 6,200 items, indicating a potential for collaborative production and export efforts.
Kudratov proposed organizing an exhibition showcasing Uzbekistan’s capabilities alongside the upcoming joint commission meeting in Tehran, emphasizing the need for a strong transport network between southern Iranian ports and Uzbekistan to facilitate trade.
This initiative marks a pivotal moment in Iran-Uzbekistan relations, aiming to elevate trade and economic ties significantly while also fostering cultural and scientific collaboration.
