Bilateral trade between Uzbekistan and Turkey has already reached $2.4 bn, and both countries are now targeting an increase to $5 bn, Uzbek Ambassador Ilhom Khaydarov confirmed during talks with Turkey’s Deputy Minister of Trade Mustafa Tuzcu.
During the meeting, both sides highlighted that there is significant potential for further growth, noting that the structure of exports and imports in both countries is largely similar and highly competitive in international markets.
Deputy Minister Tuzcu emphasised the importance of leveraging the preferential trade agreement between Uzbekistan and Turkey, which is similar to agreements Turkey has signed with Pakistan, Azerbaijan, and Iran. He noted that effective implementation of this mechanism could bring the trade volume closer to the targeted $5 bn.
The discussions also focused on removing tariff and non-tariff barriers faced by Uzbek exporters. Key areas included:
- Reducing additional import duties on electrical engineering, textile, and cable products
- Lifting restrictions on certain fruit and vegetable imports
The talks underscore the commitment of both countries to strengthen economic ties and enhance mutual trade in the coming years.
