BAKU, Azerbaijan, August 20. Uzbekistan’s
Jizzakh regional Chamber of Commerce and Industry and Iran’s Arak
Chamber of Commerce, Industries, Mines and Agriculture have signed
a memorandum of cooperation to expand trade, investment and
business ties between the two regions.
This was reflected in the statement by the Chamber of Commerce
and Industry of Uzbekistan.
The memorandum was signed in Jizzakh as part of efforts to
strengthen direct contacts between businesses and create new
opportunities for joint projects.
The agreement provides for expanding trade, economic and
investment cooperation, establishing new business relationships and
promoting joint initiatives between entrepreneurs from Jizzakh and
Arak.
“The memorandum will create additional opportunities for direct
business contacts, joint investment projects and the expansion of
trade and economic cooperation between entrepreneurs from Jizzakh
and Arak,” the Uzbekistan Chamber of Commerce and Industry
said.
Under the agreement, the sides will organize mutual visits by
business delegations and entrepreneurs to facilitate direct
contacts and identify potential areas for cooperation.
The chambers also agreed to promote joint investment projects
and encourage businesses from both regions to participate in
international and specialized exhibitions, conferences and other
business events held in Uzbekistan and Iran.
The agreement could provide a framework for companies to
exchange information on investment opportunities, establish
commercial partnerships and develop joint projects across sectors
of mutual interest.
Strengthening cooperation between regional business
organizations is also expected to help expand economic ties beyond
national-level agreements by connecting companies directly and
facilitating business-to-business interaction.
The memorandum comes as Uzbekistan and Iran seek to deepen trade
and investment relations and increase the involvement of
private-sector businesses in bilateral economic cooperation.
The new agreement between Jizzakh and Arak could also help
identify additional opportunities for investment and trade while
supporting the exchange of business experience and establishing
longer-term commercial partnerships.
The sides are expected to continue cooperation through business
delegation exchanges and joint participation in trade and
investment events.
