The 5th round of negotiations on the terms of a preferential trade deal with Turkey was held at the Uzbekistan Ministry of Investments and Foreign Trade through video conferencing, the ministry said in a statement.
The purpose of the deal is reportedly to advance trade and economic ties by facilitating the two-way trade. The parties noted that it is an important and effective step to increase the bilateral trade up to $ 5 billion.
In particular, customs duties will not apply to certain goods, or will be significantly reduced.
The negotiations allowed us to comprehensively review the provisions of the draft agreement, as well as to study in detail the lists of Uzbek and Turkish goods, for which it is planned to apply the preferential trade regime, the statement added.
While, the Turkish side announced the readiness of the Ministry of Trade of Turkey to provide the necessary technical assistance for Uzbekistan's accession to the WTO, including in terms of advising on the application of anti-dumping, countervailing duties, protective measures, as well as mechanisms for subsidizing business entities in agriculture sector.