Tashkent, Uzbekistan (UzDaily.com) — On 22 April, Uzbekistan’s Minister of Investments, Industry and Trade Laziz Kudratov held talks with Ufuk Ulutaş, the Ambassador Extraordinary and Plenipotentiary of Türkiye to Uzbekistan.

During the meeting, it was noted that over the past five years, trade turnover between Uzbekistan and Türkiye has grown by 40%, and the number of enterprises with Turkish capital in Uzbekistan has reached nearly 2,000.

However, both sides acknowledged that the current level of regional cooperation and the economic potential of the two countries point to significant untapped opportunities for expanding trade and investment ties.

To address this, the two parties agreed to take joint measures, including broadening the range of products covered by the existing preferential trade agreement. They also reached an understanding to sign an agreement on conformity assessment, with the aim of increasing mutual trade volume to US$5 billion in the coming years.

Ambassador Ulutaş commended Uzbekistan’s ongoing reforms and reaffirmed Türkiye’s consistent support for efforts to create favorable and distinctive conditions for investors. He also expressed readiness to actively mobilize all available resources to strengthen investment cooperation and attract more Turkish investors to Uzbekistan.

As a result of the meeting, both sides outlined specific areas to enhance comprehensive strategic partnership and developed a direct interaction mechanism to coordinate preparations for high-level visits to Uzbekistan this year and to promptly address emerging issues.