Further steps to deepen Uzbek-Saudi trade, economic and investment cooperation discussed
Tashkent, Uzbekistan (UzDaily.com) -- On 3 May, within the framework of the visit of the government delegation of the Republic of Uzbekistan to Saudi Arabia in Riyadh, the Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov met with the Minister of Investments of the Kingdom Saudi Arabia by Khalid al-Falih.
During the meeting, topical issues of bilateral investment and trade and economic cooperation, as well as the implementation of the agreements reached following the visit of the government delegation of Saudi Arabia to Uzbekistan, held in January this year, were substantively considered.
During the event, the prospects for the implementation of new joint projects in the fields of energy, agriculture, chemical industry, healthcare, pharmaceuticals, tourism, transport and logistics were considered.
Special attention was paid to opportunities to attract additional Saudi investment in energy and energy infrastructure development. It was noted that in March of this year, the board of directors of ACWA Power approved a new program for the development of power generating capacities in the Republic of Uzbekistan, which provides for the implementation of additional projects in Syrdarya region and the Republic of Karakalpakstan for a total of US$3 billion.
The foreign side emphasized the interest of large Saudi companies in Uzbekistan as a country with high economic and investment potential and expressed readiness for close cooperation to attract Saudi investments to the implementation of additional projects. In this context, an agreement was reached on organizing mutual visits of business circles during May-June of this year and holding joint business forums in the cities of Tashkent, Riyadh and Jeddah.
They also touched upon the issues of increasing mutual tourist flows through the establishment of regular direct passenger flights between the two countries. In particular, a significant potential was noted for the development of ziyorat tourism in both directions, in connection with which the parties agreed to intensify cooperation in this direction.
As a result of the event, practical actions were agreed upon to further deepen cooperation in priority areas.