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Türkiye and Uzbekistan aim to boost trade volume to $5 billion

Türkiye and Uzbekistan aim to boost trade volume to $5 billion
By AA
Jun 3, 2024 7:55 PM

The “Türkiye-Uzbekistan Strategic Relations/Multifaceted Future Perspective” meeting, co-organized by the Embassy of Uzbekistan in Ankara and the EkoAvrasya Foundation, took place at the Presidential National Library in Ankara.

The event was attended by Deputy Minister of Trade Mustafa Tuzcu, Presidential Chief Advisor Yalçın Topcu, Nationalist Movement Party (MHP) Deputy Chairman and Samsun Deputy İlyas Topsakal, Uzbekistan Deputy Minister of Investment, Industry, and Trade Nazımcan Holmuradov, and EkoAvrasya Foundation President Hikmet Eren.

In his address, Tuzcu highlighted Uzbekistan’s significance as one of the most populous nations in the Turkic world, with a population of approximately 36 million. He emphasized Uzbekistan’s role as a key partner in foreign trade, noting that Türkiye ranks third in Uzbekistan’s export destinations and fifth in import sources. Tuzcu stated that their goal is to increase the trade volume with Uzbekistan to $5 billion and highlighted that Turkish investments in the country have exceeded $1.5 billion, with around 2,000 Turkish firms operating there.

“Türkiye is the country with the most investments in Uzbekistan,” Tuzcu said.

Referencing the Turkic Council’s (TDT) 2040 vision, Tuzcu discussed joint projects from a common currency to shared industrial zones, with Uzbekistan playing a leading role. He underscored the commitment to enhancing cooperation in complementary sectors and maintaining bilateral and regional dialogue.

Topcu reiterated the sentiment of a united people, stating, “Uzbekistan and Türkiye are one nation, two states.” He noted the rapid strategic growth of relations since 2017 and anticipated significant decisions at the upcoming High-Level Strategic Cooperation Council meeting in Ankara, which will be chaired by President Recep Tayyip Erdogan and Uzbek President Shavkat Mirziyoyev. Topcu also condemned Israel’s actions in Gaza since October 7, 2023, expressing strong disapproval.

Holmuradov praised the growing brotherhood and respect between the two nations. He reported a 1.3-fold increase in trade volume over the past five years, reaching $3.1 billion in 2023, and noted that the number of Turkish investor companies in Uzbekistan has tripled to 1,898.

Holmuradov highlighted efforts to create a supportive trade environment and announced upcoming legislation to further improve the investment climate in line with international trade center standards.

MHP Deputy Chairman Topsakal emphasized that relations with Uzbekistan extend beyond economics, underscoring the importance of historical trade routes such as the Zengezur Corridor. He stressed that maintaining open routes like the Azerbaijan and Nakhchivan pathway is crucial for trade development.

Eren, President of the EkoAvrasya Foundation, stated, “Türkiye and Uzbekistan, two brotherly countries at the heart of Eurasia, are connected not only geographically but also culturally and historically.”

He credited the visionary leadership of Presidents Erdogan and Mirziyoyev for the strengthening strategic partnership and underscored the critical role of bilateral cooperation in regional peace and stability.

At the meeting, Prof. Dr. Akın Levent, Rector of Erzincan Binali Yıldırım University, received the “Eurasia Service Awards” for his contributions to fostering goodwill and friendship between the countries.

Last Updated:  Jun 5, 2024 9:43 PM
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