Uzbekistan And Turkey Explore Opportunities For Cooperation In Textile Industry

In December 22nd, the Uzbekistan Turkey Business Forum opened in Tashkent. On the same day, the Vice Minister of foreign trade of Turkey led Turkey's business delegation to visit Uzbekistan.

At the forum, participants discussed the economic cooperation, investment potential and opportunities of the two sides.

Business circles in the two countries also held talks in the forum.

The two sides discussed how to expand economic and trade cooperation and achieve joint investment projects in the textile, food industry, electrical appliances, building materials, machinery, leather shoes and other fields. In 2007, the trade volume between Uzbekistan and Turkey amounted to US $754 million 300 thousand.

According to the report of the Ministry of foreign trade, investment and trade of Ukraine, bilateral trade increased by 7.6% in the first 10 months of 2008, reaching 735 million 300 thousand dollars.

About 596 companies in Turkey operate in Uzbekistan, of which 139 are wholly owned by Turkey.

Areas covered include textiles, food, building materials, chemical products and others.

About 93 Turkey Company have registered offices in the Ministry of foreign trade, investment and trade of Ukraine.

There are 8 Ukrainian investment companies operating in Turkey.