The Uzbek-Kyrgyz Business Forum and the first meeting of the Business Council took place in Tashkent as part of the state visit of the President of Kyrgyzstan, the Ministry of Investments and Foreign Trade reported.

The events were attended by the heads of key ministries and departments, as well as representatives of the business communities of the two countries. The Uzbek delegation was led by the Deputy PM/ Minister of Investments and Foreign Trade S. Umurzakov, while the Kyrgyz delegation - by the Deputy PM/Minister of Economy and Finance U. Karmyshakov. The two-fold increase in the number of joint Uzbek-Kyrgyz enterprises observed in recent years, a five-fold increase in trade turnover and, in particular, a 10 percent increase in the volume of the two-way trade was recorded in 2020, despite the pandemic, were emphasized.

During the business forum, the heads of the Chambers of Commerce and Industry of the two countries, as well as relevant ministries, departments and representatives of the private sector also made remarks. After the official part, a session of bilateral meetings in the B2B format took place, during which businesses of the two countries were able to discuss prospects for cooperation and specific project proposals. The existing potential for the development of cooperation in promising industries - agriculture, the production of mineral and organic fertilizers, the production of building materials, the textile leather and footwear industry, the silk industry, tourism and logistics - was disclosed in detail.

Forum participants had the opportunity to comprehensively familiarize themselves with the conditions created in a particular sector for conducting investment and foreign trade activities in Uzbekistan and Kyrgyzstan, discuss common interests and prospects for cooperation and consider specific project proposals for further joint development.

At the Forum, Uzbek and Kyrgyz businesses signed 291 investment and trade agreements totaling US$ 935.1 million.