TASHKENT, Uzbekistan, January 14. Uzbekistan
and Iraq discussed the development of B2B ties, the promotion of
joint projects, and the removal of practical barriers for companies
seeking to enter new markets during the Uzbekistan–Iraq Investment
and Business Forum held in Tashkent, Trend reports via the Chamber of Commerce and
Industry of Uzbekistan.
Following the forum, memorandums of understanding were signed
between the Chamber of Commerce and Industry of Uzbekistan and
relevant Iraqi organizations. In addition, B2B meetings were held
to discuss specific areas of bilateral cooperation.
The event was attended by Uzbekistan’s Minister of Investment,
Industry and Trade Laziz Kudratov, Chairman of the Chamber of
Commerce and Industry of Uzbekistan Davron Vakhabov, heads of
relevant ministries and agencies, representatives of chambers of
commerce and sectoral associations, as well as more than 300
business representatives from both countries.
Speaking at the forum, Kudratov emphasized the significant
potential of Uzbek-Iraqi trade and economic cooperation and the
strong interest of businesses in expanding direct contacts.
Promising areas of cooperation include pharmaceuticals,
construction materials production, agriculture and food processing,
the electrical and automotive industries, and the food and
furniture sectors, as well as industrial cooperation and the
establishment of joint ventures.
The Uzbekistan-Iraq Investment and Business Forum once again
confirmed the strong interest of business communities in developing
direct partnerships.
With a population of approximately 46 million and an estimated
annual import demand of about $53 billion, Iraq represents a large
and promising market for Uzbekistan. The country annually imports
textiles, carpets, and leather products worth around $3 billion,
food products and construction materials valued at about $4
billion, electrical equipment worth nearly $3 billion, furniture
valued at approximately $1.2 billion, and pharmaceutical products
amounting to around $2 billion.
On January 13, Uzbekistan hosted Iraqi entrepreneurs,
facilitated by the Uzbekistan Chamber of Commerce and Industry. The
delegation visited Tashkent and Samarkand for business forums and
bilateral B2B meetings, aiming to enhance cooperation in industries
such as electrical engineering, pharmaceuticals, food processing,
construction materials, textiles, automotive manufacturing, and
tourism. The meetings aimed to create direct business contacts,
strengthen trade relations, and explore joint investment
opportunities between Uzbek and Iraqi companies.
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