Iranian and Uzbekistani officials have underlined the importance of developing mutual ties in energy and modern industries sectors.
In a meeting in Tehran on June 26, Uzbekistan’s Foreign Trade Minister Jamshid Khodjaev and Iran’s Deputy Industry Minister Mansour Moazzami stressed the need to develop cooperation in modern industries, the food industry, pharmaceuticals and the energy, according to Iran’s Aryanews.
Moazzami, who is the Chairman of the Board of Directors of Iran’s Industrial Development and Renovation Organization, called on Uzbekistan’s officials to finalize the agreements on the intended industrial projects to be implemented by Iran in Uzbekistan.
Khodjaev emphasized that cooperation with Iran in the industrial field is key, and he announced Uzbekistan’s willingness to leverage Iranian capabilities and expertise in all sectors under consideration for further development in Uzbekistan.
Khodjaev met with Mohammad Khazaei, the director of the Organization for Investment, Economic and Technical Assistance of Iran, on June 27, when he proposed that a joint investment committee could be set up by the two countries to increase the volume of bilateral trade.
Uzbekistan’s minister said that over 100 Iranian companies are active in Uzbekistan, and he underlined that considering high capacities of Iran in the industry sector, Uzbekistan has prepared a roadmap for industrial cooperation in textiles, construction materials, oil, medical products and processed agricultural products.
The amount of trade between Iran and Uzbekistan amounted to $325 million in 2017, a number expected to reach $500 million by the end of this year, according to Uzbekistan’s First Deputy Prime Minister Ochilboy Ramatov.
Petrochemical products, pistachios, tea, various kinds of flooring, and stones are exported to Uzbekistan by Iran. Uzbekistan is interested in exporting 5,000 tons of its oil and 100,000 tons of wheat to Iran. At the same time, the Central Asian country is interested in buying up to three million tons of crude oil from Iran annually, but as one of the world’s two ‘double landlocked’ countries, Uzbekistan's lack of access to maritime routes means the fuel must be exported by land or via railroad.