Tashkent, Uzbekistan (UzDaily.com) -- A business forum between entrepreneurs of Uzbekistan and Kazakhstan is being held today in Tashkent. Deputy Prime Minister for Investments and Foreign Economic Relations - Minister of Investments and Foreign Trade Jamshid Khodjaev spoke at the meeting.

He expressed his gratitude to the Deputy Prime Minister of the Republic of Kazakhstan - Minister of Trade and Integration Jumangarin Serik for his personal participation in the event as part of the Kazakh delegation.

“In recent years, the trade turnover between Uzbekistan and Kazakhstan has more than doubled, and by the end of this year it will approach US$5 billion. About 1,200 enterprises with the participation of Kazakh capital operate in Uzbekistan. I want to note that literally five years ago this figure was almost 6 times less. Only for 9 months of the current year 130 joint ventures were created. It is important to continue the further development of interregional ties so that absolutely all regions of Uzbekistan and Kazakhstan are involved in joint projects and initiatives.

“We have set the task of increasing the trade turnover to US$10 billion, including through active import substitution. To achieve this goal, a joint foreign trade company will be created in the near future,” Jamshid Khodjaev said during the ongoing business forum.

“Today, Uzbekistan and Kazakhstan are implementing over 30 joint projects worth more than US$3 billion.

For example, for construction:

- power plants with "Eurasian Resources Group" (US$1.5 billion);

- TPP near the Karajyra field (US$900 million);

- a multimodal transport and logistics center with PTC Holding (US$300 million);

- production of phosphate and mineral fertilizers with Kazphosphate (US$1.3 billion);

- production of household appliances (US$55 million),

- expansion of car production (US$50 million);

- the production of ceramic tiles (US$40 million) and others.

“In the near future, we will start implementing new initiatives,” Jamshid Khodjaev said at a business forum taking place in Tashkent.

As a result of the forum, it is planned to sign road maps between Tashkent and Turkestan, Navoi and Kyzylorda regions to further expand cooperation in a whole range of areas.