On May 15 of this year, the 8th Meeting of the Intergovernmental Commission on Trade and Economic Cooperation between the Republic of Uzbekistan and the Republic of Türkiye was held in Tashkent. As part of the event, the Uzbekistan–Türkiye Business Forum and an industrial exhibition were also organized with the participation of business communities from both countries. The meeting was attended by official delegations led by Deputy Prime Minister – Minister of Economy and Finance of the Republic of Uzbekistan Jamshid Kuchkarov and Vice President of the Republic of Türkiye Cevdet Yılmaz.

The President of the Republic of Uzbekistan has identified the achievement of macroeconomic stability and maintaining an annual GDP growth rate of at least 6%, with the goal of reaching a GDP of USD 200 billion by 2030, as a key priority. This objective is aimed at improving the population’s well-being and reducing poverty.

Deepening trade and economic relations with the Republic of Türkiye, as well as expanding investment and industrial cooperation, play an important role in achieving these strategic goals. Currently, more than 2,000 Turkish companies operate in Uzbekistan, which reflects the steady development of bilateral economic cooperation.

The 3rd Meeting of the Uzbekistan–Türkiye High-Level Strategic Cooperation Council, held in Ankara in 2024, along with the first-ever meeting with representatives of the business community organized within its framework, clearly demonstrated that bilateral cooperation—thanks to the efforts of the leaders of both countries in recent years — has reached an entirely new stage: a comprehensive strategic partnership.

For reference: The 1st Meeting of the Uzbekistan–Türkiye High-Level Strategic Cooperation Council was held in Ankara on February 19, 2020; the 2nd Meeting took place in Tashkent on March 29, 2022; and the 3rd Meeting was held in Ankara on June 6, 2024.

Held in an atmosphere of constructiveness and mutual understanding, the Commission meeting included an in-depth analysis of the current state of bilateral trade and economic relations. Concrete measures were outlined to further expand trade volume, increase investment activity, and deepen intersectoral integration between the two countries.

During the discussions, an agreement was reached to strengthen cooperation in the following priority areas:

·       Industrial cooperation (including leather and footwear, jewelry, construction materials, furniture, glass products, and pharmaceuticals);

·       Experience-sharing in public procurement and urban development policy;

·       Vocational education and workforce training;

·       Development of small and medium-sized enterprises (SMEs);

·       Promotion of joint projects focused on the “green economy” and sustainable development;

·       Implementation of strategic initiatives through public-private partnership (PPP) mechanisms.

It was noted that in 2024, the volume of mutual trade between Uzbekistan and Türkiye reached USD 2.9 billion. During the meeting, concrete plans and roadmaps were developed to raise this figure to USD 5 billion in the coming years. Important agreements were reached on simplifying export-import operations, harmonizing customs procedures, and creating a more favorable business environment.

In the second half of the day, the business forum brought together representatives of Turkish companies currently operating in Uzbekistan and those planning new projects. The industrial exhibition provided entrepreneurs from both countries with an opportunity to showcase their production capacities, technological capabilities, and prospects for cooperation.

The Turkish side positively assessed the economic reforms being implemented in Uzbekistan and noted the country's stable and attractive investment climate. Many Turkish companies expressed their readiness to launch new projects in the future.

This meeting, along with the agreements signed within its framework and the outcomes of the business forum, will serve to meaningfully enrich the agenda of the upcoming session of the Uzbekistan–Türkiye High-Level Strategic Cooperation Council.

At the same time, this event marked an important step toward elevating the friendly and multifaceted strategic partnership between Uzbekistan and Türkiye to a new level.