10 March 2023

Prospects for the development of trade, economic and investment cooperation with Mongolia were discussed

On March 9 this year, the Minister of Investments, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov met with the Minister of Foreign Affairs of Mongolia Batmunkh Battsetseg, who is on a visit to our country, in Tashkent, the press service of the MIIT reported.

During the talks, the current state and prospects for the development of cooperation in the field of trade, economy, investment and industrial cooperation between the two countries were discussed.

The positive dynamics of growth in the volume of mutual trade, which has tripled in recent years, was noted. Emphasizing the existence of a number of opportunities for a significant increase in current indicators, the parties agreed to establish a Working Group to identify opportunities and take measures to expand the range and increase the volume of bilateral trade between the two countries.

The prospects for increasing investment interaction and industrial cooperation are analyzed. The adoption of a joint program for the development of industrial cooperation, including specific project proposals in the fields of agriculture, light and electrical industry, and the creation of the Uzbek-Mongolian Business Council, are designated as priority and top-priority measures in this direction. In this context, the parties agreed to hold joint business forums and exhibitions in the cities of Tashkent and Ulaanbaatar.

Following the meeting, an Agreement was signed on the establishment of a Joint Intergovernmental Commission on Cooperation between the Republic of Uzbekistan and Mongolia, which will serve as the basis for the practical realization of the potential of the multifaceted agenda of Uzbek-Mongolian cooperation.