Turkey, Uzbekistan aim to boost trade volume

By Dilara Zengin

ANKARA (AA) - Turkey and Uzbekistan would use all opportunities to increase current trade volume, Turkey's Economy Minister Nihat Zeybekci said Thursday.

"Current trade volume [between Turkey and Uzbekistan] of $1.2 billion is not a level we can definitely accept. We will use all opportunities and instruments to enhance it in a short period of time," Zeybekci said after meeting Uzbekistan's Deputy Prime Minister Jamshid Kuchkarov.

Turkey’s export to Uzbekistan stood at $533 million while import from the country was $709.3 million in 2016, according to Turkish Statistical Institute.

Zeybekci underlined that Turkey and Uzbekistan would get favorable results if the two countries work together.

Meanwhile, Kuchkarov, who is on an official visit to Turkey, noted that he held talks with Turkish business circle and reached an agreement on new projects.

"We have reached an agreement on sale of 50 percent share of UT Bank, which operates in Tashkent, to Turkey's Ziraat Bank," Kuchkarov said, without giving further details.

He also said they agreed with Turkish Airlines on direct flight between Istanbul and Uzbekistan's east-central province Samarkand.

"We also talked with Turkish Airlines to increase flights to Tashkent and discussed possible flights to Uzbekistan's Buhara and Khiva provinces," he added.

Kuchkarov noted that establishing a dairy and meat production center, machine industry, renewable energy resources and textiles production were among the subjects that he discussed with the Turkish businessmen.

Nearly 50 Turkish businessmen would pay a visit to Uzbekistan to discuss these projects, he added.