Tashkent, Uzbekistan (UzDaily.com) -- On 2 March, the progress of investment and trade and economic cooperation with the Republic of Azerbaijan, the Italian Republic and the Russian Federation was discussed at the Ministry of Investments and Foreign Trade under the leadership of Minister S. Umurzakov.

The discussion, which took place in a video conference format, was attended by the heads of ministries, departments, industry associations and commercial banks, deputy khokims of the regions and the city of Tashkent, deputy chairman of the Council of Ministers of the Republic of Karakalpakstan, as well as heads of diplomatic missions of the Republic of Uzbekistan in the above countries, connected via video conferencing -connection.

During the discussion, the current status of the implementation of existing agreements with partners from these countries was critically examined and the insufficient use of the existing potential of economic partnership was pointed out.

The leadership of the Ministry of Investment and Foreign Trade pointed to the need to analyze the implementation of cooperation programs with investors and trading partners from Azerbaijan, Italy and Russia.

It was also recommended that the responsible leaders make every effort to comprehensively explore new opportunities for cooperation and enhance interaction with potential partners by organizing trips of working groups abroad and video-conferencing sessions if there is no possibility to organize trips.

It was noted that the elaboration of investment and trade and economic cooperation should be carried out in close conjunction "branch agency - local authority - embassy"

Heads of diplomatic missions shared their views on the further development of bilateral economic relations, providing information on the priorities and interests of foreign partners, as well as promising areas for further elaboration.

As a result of the discussion, mechanisms were developed for the effective and efficient execution of the voiced instructions with reference to specific deadlines and performers. Progress monitoring will be regularly conducted by employees of the Ministry of Investment and Foreign Trade.