The potential for bilateral partnership between Tajikistan and Uzbekistan is enormous and continues to grow rapidly each year, according to an article by Shokhrukh Gulamov on the Avesta portal. He is the head of the Department of International Cooperation at the Ministry of Investments, Industry, and Trade of Uzbekistan.
According to the author, concrete figures fully confirm this: over the past years, trade turnover between Uzbekistan and Tajikistan has doubled. While in 2018 it amounted to $389.3 million, by 2023 it had increased to $756.7 million. Since the beginning of this year, trade turnover has already increased by almost 40%, according to official data from Tajikistan. The dynamics are quite impressive, and the parties intend to increase mutual trade volumes to $2 billion in the nearest years.
Investment cooperation is developing in a similar vein. Trust between the business circles of the two countries, stimulated by deep friendly relations between the leaders of Uzbekistan and Tajikistan, is the basis for the implementation of bold joint projects.
The volume of Tajik investments in Uzbekistan more than doubled in one year. While it amounted to $21.4 million in 2022, it increased to $48.8 million in 2023. Entrepreneurs from Tajikistan are actively interested in doing business in Uzbekistan. As of March 1, 2024, 303 enterprises with Tajik participation are successfully operating in Uzbekistan, of which 198 enterprises are fully owned by Tajik investors.
In turn, in Tajikistan, there are more than 70 enterprises with Uzbek capital, which also emphasizes the mutual benefit of bilateral investment ties. Enterprises for yarn production (Zelal-tex, Khujand), household appliances (35,000 refrigerators produced, Dushanbe) have been launched.
Currently, the practical implementation of such significant joint projects has begun, such as the creation of a trading zone at the border crossing point "Oybek-Fotehobod" and the trade and logistics center "Andarhan," as well as the construction of two hydroelectric power stations on the Zarafshan River in Tajikistan.
Along with this, significant prospects are seen in the implementation of new joint projects in energy, geology, metallurgy, pharmaceuticals, electrical engineering, automotive, agriculture, and textile industries. As part of the preparation for the business forum on the eve of the visit of Uzbekistan's President Shavkat Mirziyoyev to Tajikistan, business circles of both countries have worked out a solid package of trade and investment projects. The Uzbek-Tajik Investment Company has begun active work.
The parties are forming a list of potential projects for financing.
Uzbekistan's President Shavkat Mirziyoyev plans to visit Tajikistan on April 18-19 with an official visit, Avesta reports.
During the visit, discussions are expected on issues of bilateral cooperation and strengthening friendly relations between the two countries.
As part of the visit, Uzbekistan Culture Days will be held in Tajikistan from April 17-20.
CentralasianLIGHT.org
April 15, 2024