As reported earlier, President of the Republic of Uzbekistan Islam Karimov paid an official visit to Turkmenistan on 1-2 October at the invitation of President Gurbanguly Berdymuhamedov.

During the negotiations on 2 October 2012, the Presidents of Uzbekistan and Turkmenistan considered issues on development bilateral trade-economic relations.

Islam Karimov said that bilateral trade turnover made up US$500 million and the sides could double the volume in the perspective. The growth rate in past period made up almost 70%. He said that the trade volume can be increased several times.

After the talks, Uzbekistan and Turkmenistan signed an agreement on economic cooperation for 2013-2017 and intergovernmental agreement on mutual goods supplies.

Turkmen leader said that the sides are planning to expand direct economic relations and create join ventures. The sides also want to boost ties in energy, transport-communication, agriculture, processing sectors and trade, Gurbanguly Berdymuhamedov added.

Islam Karimov said that Uzbekistan imports hydrocarbons, polypropylene, other products of modern sectors of industry. Uzbekistan exports mineral fertilizers, automobiles, agriculture machinery, construction materials and others.