Deputy Prime Minister and Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov held a teleconference with the Vice President of Turkey Fuat Oktay.

The parties discussed issues related to the implementation of mutual agreements, further development of multifaceted bilateral cooperation, as well as promising joint initiatives to prevent the impact of the pandemic on the economies of the two countries, the MIFT press service said.

Both sides emphasized their mutual commitment to implement the agreements reached during high-level visits.

Active interaction will continue to promote launched investment initiatives – in this context, the possibility of organizing visits to Uzbekistan by heads of Turkish companies and relevant specialists (as the situation with the coronavirus pandemic stabilizes) for the practical implementation of the agreed projects was discussed.

Joint actions to increase mutual trade were considered – in this direction, work on the elaboration of the Agreement on preferential trade will be intensified. Bilateral negotiations will be held in the format of online sessions, and as the epidemiological situation stabilizes, work missions will be organized at the level of the heads of foreign trade departments of the two countries to discuss issues in detail and develop specific mechanisms for interagency cooperation in order to bring trade turnover between Uzbekistan and Turkey to $5 billion per year soon.

It is noted that the Turkish side will consider the possibility of creating the most favorable conditions for uninterrupted and unhindered transit of Uzbek goods through its territory. To this end, a mechanism will be developed for regular consultations at the level of ministers of transport of the two countries to develop and implement measures designed to prevent possible accumulations and delays of Uzbek goods on the Turkish border.

In addition, options for cooperation within the framework of Uzbekistan’s accession to the World Trade Organization were discussed – the Turkish side assured full support for this initiative, and also expressed its readiness to provide the necessary technical and advisory assistance in this matter. The interaction of Uzbek and Turkish specialists will be launched online in the near future.