18.04.24
In a testament to the strengthening ties between Uzbekistan and Tajikistan, the volume of mutual trade between the two nations has tripled over the past eight years. As of 2023, this figure is set to reach $750mn, marking a 40% increase since the beginning of the year. The forum served as a platform to set targets, with plans to elevate the volume of mutual trade to $2bn in the coming years.
The momentum of this burgeoning economic relationship was underscored during the Uzbekistan-Tajikistan Business Forum held in Dushanbe on April 17, on the eve of the state visit of Uzbekistan's President Shavkat Mirziyoyev to Tajikistan.
Chaired by Tajikistan's Deputy Prime Minister Usmonali Usmonzoda and Uzbekistan's Deputy Prime Minister Jamshid Khodjaev, the forum brought together over 600 representatives from both countries' business circles, governmental bodies, industry associations, and regional administrations. In his address, Deputy Prime Minister Khodjaev highlighted strides made in multilateral cooperation, attributing this progress to the trust fostered between the two nations' leaders.
Presently, over 370 joint ventures operate within Uzbekistan and Tajikistan, a considerable leap from the mere 17 in 2017. Notable successes include ventures such as the "Zelal-tex" yarn and textile production enterprise in Khojand and the "Artel" household appliances production unit in Dushanbe.
Uzbekistan emerged as a prominent exporter to Tajikistan, with exports totaling $605mn. On the other hand, Tajikistan's imports from Uzbekistan amounted to $151.8mn. This trade dynamic indicates a trade surplus in favor of Uzbekistan, reflecting the strength of its industrial base and the diversity of its export offerings.
Deputy Prime Minister Usmonali Usmonzoda echoed the sentiment, emphasizing the vast potential for enhanced trade, investment, and industrial collaboration between the two nations. The Uzbekistan-Tajikistan Investment Company's pivotal role was also recognized, with a list of 14 projects worth $135mn earmarked for its resources.
The conclusion of the business forum saw the signing of several documents, laying the foundation for a comprehensive roadmap. This roadmap will delineate specific tasks, responsible entities, and timelines for the implementation of each project, further solidifying the bilateral economic partnership between Uzbekistan and Tajikistan.
