Iran, Uzbekistan plan to increase annual trade to $3 billion

Iran and Uzbekistan have set a target for doubling the volume of bilateral trade in the first step and then increasing it to hit $3 billion, according to Iran’s President Ebrahim Raisi.

The president made the remarks in a meeting of top-ranking delegations of Iran and Uzbekistan in Tehran on June 18 which takes place as part of a historic visit to Tehran by an Uzbek president after 20 years, IRNA reports.

Raisi also referred to signing a preferential trade agreement between the two countries, calling on the related ministers to prepare a list of items for preferential trade within two weeks.   

Noting that Iran sees no barriers in the way of expansion of ties with nearby countries, he said that the promotion of relations between the two countries will benefit the interests of both nations.  

Speaking in the meantime, Uzbekistan’s President Shavkat Mirziyoyev said that a 20-year gap for a top-level visit to Tehran was caused by the negligence of former officials of both countries.

He believed that his country needs Iran’s successful experiences on the path to progress.

Mirziyoyev voiced Tashkent’s readiness for enhancement of cooperation with Tehran in different scientific, technological, transportation, energy, medical and agricultural areas, calling on Iranian private sector actors to participate in economic projects of Uzbekistan.

To recap, high-ranking officials of Iran and Uzbekistan signed 10 cooperation deals and a joint document during Mirziyoyev's visit to Tehran.

The deals signed on June 18 included a preferential trade agreement and accords that were focused on cooperation in the fields of transportation and transit, pharmaceutics, standards and insurance, joint free zones, technology and innovation, and agriculture.

The documents were signed in the presence of Iranian President Ebrahim Raisi and Mirziyoyev.

The presidents held a private meeting earlier on June 18 before participating in the signing ceremony of cooperation deals.