A large forum in Tehran: A new era is beginning in business relations between Uzbekistan and Iran

Today, May 11, the Uzbek-Iranian Business Forum was held in the Iranian capital, Tehran. The opening ceremony of this event, which set new prospects for economic cooperation, was attended by the Prime Minister of the Republic of Uzbekistan Abdulla Aripov and the First Vice President of the Islamic Republic of Iran, Mohammad Reza Arif.

The main focus of the forum was on the development of trade and investment relations between the two countries, and new agreements were signed. The trade turnover between Uzbekistan and Iran currently exceeds $500 million, and the number of joint ventures exceeds 210.

As reported during the meeting, the existing economic opportunities and reserves of the two countries were carefully analyzed, and as a result, new growth points were identified. It was especially noted that a portfolio of projects and trade agreements worth a total of $1 billion was formed.

In his speech, Abdulla Aripov drew attention to the economic reforms being implemented in Uzbekistan and the policy pursued to attract foreign investment.

“At the initiative of our President Shavkat Mirziyoyev, broad opportunities are being created in our country for entrepreneurs and investors. In recent years, Uzbekistan’s gross domestic product has doubled, and according to the International Monetary Fund, our country’s GDP has exceeded $100 billion for the first time in history,” the prime minister said.

The forum noted that in recent years, the volume of foreign investments in the Uzbek economy has exceeded $70 billion, and the country is rich in mineral resources and rare minerals. It was noted that the fully liberalized foreign exchange market and the absence of any restrictions on the repatriation of income create very favorable conditions for foreign entrepreneurs.

Iranian businessmen were also offered the effective use of special industrial zones in the Khorezm and Samarkand regions.

More than 100 entrepreneurs, representatives of ministries and departments from Uzbekistan participated in the forum, and many new business agreements were signed in the B2B format.

The Uzbekistan-Iran Business Forum will bring economic relations between the two countries to a new level and further increase the volume of cooperation in the coming years.

Zamin.uz editorial team will closely monitor the next stages of economic cooperation between Uzbekistan and Iran and provide important news. Read 'Zamin' on Telegram!