The Chamber of Industry and Commerce of Uzbekistan and the Embassy of the Islamic Republic of Iran in Tashkent have organized the visit of the delegation of the Mazandaran province (Iran) to Uzbekistan on 2-9 July 2007 to further develop the economic and trade cooperation between the Uzbek and Iranian business circles.

The purpose of the visit is the establishment of direct contacts between the Uzbek and Iranian entrepreneurs, examination of the possibilities of establishing joint ventures and implementing investment projects, UzReport.com reported.

The delegation includes business leaders and managers of about 20 largest companies of the Mazandaran province operating in the agricultural, construction materials production, plastics production, trade, and other sectors.

The Islamic Republic of Iran is among Uzbekistan’s 10 largest trade partners. In 2006, the volume of bilateral trade between the two countries exceeded US$658.5 million. The bilateral trade balanced with the surplus of US$582.7 million for Uzbekistan (export – US$620.6 million, import – US$37.9 million). The total of 89 Uzbek-Iranian joint ventures, including 23 enterprises with 100% Iranian capital operate on the territory of Uzbekistan. They are mainly engaged in the production of consumer goods, textiles, agricultural products, construction materials, carpets, etc.

On 4 July, a cooperation exchange and an Uzbek-Iranian Business Forum was held in Tashkent. The representatives of the business circles of both countries discussed the prospects of trade and economic cooperation and exchanged opinions on their positions regarding the creation of favourable conditions for further expansion of business contacts. The businessmen of the two countries discussed the prospects of cooperation between individual enterprises and the of the attraction of foreign investments for the establishment of joint ventures in Uzbekistan.

The programme of the visit envisages further meetings at the Chamber of Industry and Commerce, Ministry of Foreign Economic Relations, Investment and Trade, and the Embassy of the Islamic Republic of Iran in Uzbekistan. The delegation will also visit a number of farming businesses and other enterprises in Tashkent.