Uzautosanoat and Turkmenistan-Motors companies signed a memorandum of intent to launch the production of automotive, agricultural and trailer equipment in Turkmenistan. The signing ceremony was held on October 4 as part of the Uzbek-Turkmen Forum.
Cooperation in this area also implies the organization of the production of auto components and sales to export markets.
In addition, the companies agreed to launch the production of other cars (pickups, trucks and buses), agricultural and trailers manufactured by Uzavtosanoat enterprises.
In addition, the parties also intend to develop industrial cooperation between the two countries.
The First Deputy Minister of Investments and Foreign Trade Laziz Kudratov said that the matter concerns the production of 5,000 cars per year. According to him, the volume of investments in this project will amount to $ 10 million.
The Director General of Turkmenistan-Motors Fourkad Aydashev said that in the first year the enterprise plans to produce up to 10 thousand units of agricultural machineries and trailers, and within 4-5 years it is expected to reach the level of up to 50 thousand units per year.
Also, during the visit of President of Turkmenistan Gurbanguly Berdimuhamedov to Uzbekistan, the countries agreed to implement joint projects to assemble cars, electrical equipment, building materials and create clusters in the tourism sector. Turkmenistan side also plans to purchase Uzbek goods worth of US$ 300 million and offers the infrastructure of the Turkmenbashi seaport.
Earlier on September 17, a production unit for UzAuto Motors and SamAuto was opened in the city of Hajigabul (Azerbaijan). A part of the alliance with General Motors, UzAuto Motors announced the start of sales of Chevrolet cars in Azerbaijan. The Azermash SR plant, which is part of the Hajigabul industrial quarter, located near the city of Baku, was the production partner from Azerbaijan.