September 30, 2023

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‘Resolving transit, monetary issues a prerequisite for boosting Iran-Uzbekistan trade’

TEHRAN – Director-General of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA)’s International Department Shahram Khasipour has said that resolving the issues related to transportation and banking transactions is the prerequisite for the expansion of trade ties between the two countries.

Khasipour made the remarks in a meeting with his Uzbek counterparts on the sidelines of the Iran-Uzbekistan Joint Economic Committee meeting in Tashkent, the ICCIMA portal reported on Tuesday.

Referring to the two countries’ annual $450 million trade, the official said: “Although the volume of trade between Iran and Uzbekistan has grown compared to last year, considering the potential capacities of the two sides, this figure is not satisfactory.”

Emphasizing the need for joint investment between the private sectors of the two countries in the fields of textile, mining, and food industries, he added: “It is necessary for government officials to provide the necessary support to investors and economic operators.”

Last week, Iran and Uzbekistan stressed the need for expanding economic ties by signing a preferential trade agreement (PTA) and removing the obstacles in the way of trade relations.

As reported, in a meeting between the Acting Head of Iran’s Trade Promotion Organization (TPO) Mehdi Zeyghami and Uzbekistan Ambassador to Tehran Abdullaev Bakhodir Barotovich, the two sides discussed various issues including the preparations for holding the two countries’ joint economic committee meeting in Tashkent and the recent visit of Uzbekistan’s President Shavkat Mirziyoyev to Tehran.

Speaking at the meeting, Barotovich said Iran is the closest access route to the open sea for this country and demanded the removal of obstacles to the transit of goods through Iran.

He expressed hope that a roadmap for economic cooperation between the two countries with a target of one billion dollars of annual trade will be signed during the upcoming visit of the Uzbek president to Tehran and said: “With the removal of transit obstacles, trade exchanges between Iran and Uzbekistan will reach four billion dollars.”

The ambassador also announced his country’s interest in holding business conferences and special events to connect the businessmen of the two countries.

Zeyghmi for his part said Iran will take the necessary measures to remove the obstacles on the way of the transit of Uzbek goods and said: “The planning of the Iran-Uzbekistan business conference with the presence of businessmen from the two countries is underway during the visit of President Mirziyoyev to Tehran.”

Back in late April, the secretary of Iran’s Free Zones High Council negotiated with the officials of the free trade and special economic zones of Uzbekistan about the establishment of a joint free zone between the two countries, during a two-day visit to Tashkent.

As reported, Hojatollah Abdolmaleki participated in the international investment meeting of Uzbekistan, which was held in the presence of the president and other high-ranking officials of this country and heads of international and regional financial organizations and institutions.

By visiting several free and special zones of Uzbekistan, the Iranian official discussed the benefit and use of joint capacities and opportunities for investment and trade between the two countries.


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