Uzbekistan and Slovakia will hold First Intergovernmental Commission Meeting

On April 11 of this year, a meeting was held at the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan with Viktor Borecky, the Ambassador Extraordinary and Plenipotentiary of the Slovak Republic, the press service of the Ministry reports.

During the meeting, participants discussed ways to further deepen bilateral trade and economic relations, as well as preparations for the inaugural meeting of the Intergovernmental Commission on Economic Cooperation.

The current state of bilateral trade and investment cooperation was reviewed. According to last year’s results, trade turnover between the countries increased by 30%. The primary products in bilateral trade include textiles, food products and services, rubber and rubber products, vehicles and their spare parts, as well as mechanical and electrical equipment, and optical devices and instruments.

There has been a steady growth in investment cooperation, with 19 companies involving investors from Slovakia operating in Uzbekistan. These companies primarily focus on information technology, education, construction, logistics, metallurgy, and the production of medical equipment.

Understanding the significance of collaborative efforts to enhance trade and economic cooperation, the parties explored opportunities for implementing joint investment projects and fostering industrial collaboration across various sectors, including mechanical engineering, the automotive industry, chemical manufacturing, pharmaceuticals, energy, agriculture, and information technology. They also reached an agreement on organizing business missions and expanding business contacts in the areas of tourism, education, and science.

The meeting of the Intergovernmental Commission is a proven and effective mechanism for developing, coordinating, and continuously monitoring the implementation of measures to enhance trade and investment. Based on this common understanding, following the meeting, the parties confirmed their readiness to organize the inaugural and subsequent meetings of the Intergovernmental Commission. This initiative will serve as a significant step in strengthening economic ties between Uzbekistan and Slovakia.