Turkey, Uzbekistan sign deals to boost trade

Both countries will reevaluate economic cooperation in a number of sectors, Turkey's economy minister says

Turkey, Uzbekistan sign deals to boost trade

World Bulletin / News Desk

Turkey and Uzbekistan have signed cooperation agreement to boost economic relations, Economy Minister Nihat Zeybekci said Monday.

The cooperation agreement was signed at the Turkey-Uzbekistan Business Forum organized by Turkey’s Foreign Economic Relations Board (DEIK) in Istanbul.

"We identified nine to 10 economic sectors such as agriculture, textile, electric-electronic, chemistry, tourism, and logistics. We will reevaluate cooperation in these sectors according to their trading volume and importance," he said at the forum.

Zeybekci regretfully noted that trade volume between Turkey and Uzbekistan stood only at $1.2 billion.

Turkey's exports to Uzbekistan rose to $533.3 million last from $488.5 million in 2015, according to official data from the Turkish Statistical Institute (TurkStat).

In 2016, imports from Uzbekistan amounted to $709.2 million against $711.5 million the previous year.

Zeybekci said there should be free trade agreement or a preferential trade agreement between both countries to meet this need.

Güncelleme Tarihi: 27 Şubat 2017, 17:48