03 March 2023

Uzbekistan – Israel: the prospects for cooperation in a number of directions were discussed

On March 3 of this year, Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan Oybek Khamraev met with the Extraordinary and Plenipotentiary of the Israeli State to the Republic of Uzbekistan Zhilleza Ben-Hill. This was reported by the press service of MIIT.

During the meeting, an exchange of views on issues of trade, economic and investment cooperation was held, as well as the prospects for expanding partnerships in new directions.

In particular, it was noted that in 2022, the trade turnover between the countries doubled compared to the previous year. The parties agreed to create a joint working group and make the necessary efforts to increase mutual trade.

Also on the agenda – a discussion of the achieved results and further plans to expand partnerships in the investment sector and the development of industrial cooperation. Since 2018, the number of enterprises with the participation of Israeli capital has increased by 3.5 times. Among successful projects are the production of finished knitwear in the Samarkand region, as well as warehouse, archival, trade racks and medical equipment in the Tashkent region.

Given the successful experience of implementing joint projects, the parties expressed interest in expanding cooperation in the pharmaceutical, chemical, electrical, textile, agricultural and food industries, energy, banking, construction, tourism sector, as well as in healthcare and water farming.

Based on the results of the meeting, an agreement was reached to accelerate the practical implementation of the tasks enshrined in the investment, industry and trade between the Ministry of Investment, Industry and the “International Cooperation Agency in order to develop Israeli Foreign Ministry” to the Memorandum of understanding, which will contribute to the strengthening of the two -way financial and technical interaction of the two countries.