Joint initiatives in mechanical engineering and light industry fields will help to increase the volume of bilateral trade between Uzbekistan and Ukraine, the Ministry of Economy of Ukraine reports, commenting on the measures taken to increase bilateral trade between Uzbekistan and Ukraine.
According to the ministry, a meeting was held in February in Kyiv at the level of the Minister of Economic Development, Trade and Agriculture of Ukraine and the First Deputy Minister of Investment and Foreign Trade of Uzbekistan in order to maintain a systematic dialogue with the aim of developing mutually beneficial relations in trade between the parties.
Also, bilateral Ukrainian-Uzbek consultations were held on topical issues of trade and economic cooperation.
The next step, as the ministry said, should be the holding of the eighth meeting of the Joint Ukrainian-Uzbek Commission on Comprehensive Cooperation in Tashkent, as one of the main instruments of bilateral cooperation.
Moreover, it is planned to organize business meetings in the B2B or B2G format within the framework of the event.
The ministry notes that Ukraine views Uzbekistan as an important partner in Central Asia. According to the information, the volume of trade in January-November 2020 between countries amounted to $378.2 million, up by 25.9% YoY.
At the same time, the export of goods from Ukraine to Uzbekistan amounted to $258.8 million with an increase of 31.7%, while the import of Uzbek goods to Ukraine amounted to $119.4 million, increasing by 14.9%. The surplus for Ukraine for the reporting period amounted to $139.5 million.
The Ministry of Ukraine said that an increase in the volume of bilateral trade between the countries would be be facilitated by the implementation of agreements reached within the framework of bilateral Ukrainian-Uzbek consultations, namely, the removal of barriers in mutual trade and the signing of an agreement on cooperation between Ukraine and Uzbekistan in the field of plant quarantine, taking into account new changes in regulations of both countries in this area.
Furthermore, the ministry emphasized that further development of cooperation in the industry sector, namely the renewal of the rolling stock of the Uzbek railway, the supply of products (cars, escalators) for the Uzbek metro, the supply of agricultural equipment, trucks, mining, hydraulic equipment, equipment for oil and gas industry, power equipment (turbine equipment, pumping stations, spare parts for turbine equipment, hydro and turbine generators, gas turbine power plants), as well as joint initiatives in the fields of mechanical engineering and light industry would contribute to an increase in bilateral trade between the countries.
The ministry added that cooperation in the field of infrastructure (restoration of air traffic, search for new logistics routes), as well as intensification of work within the framework of the implementation of the Protocol between the State Customs Service of Ukraine and the Customs Committee of Uzbekistan on organizing the exchange of preliminary information on goods and vehicles transported through state the borders of Ukraine and Uzbekistan would also lead to increased bilateral trade between Ukraine and Uzbekistan. (AzerNews/Business World Magazine)