TEHRAN: Uzbekistan and Iran have formalized a bilateral statement to advance cooperation across trade-economic, investment, and transportation sectors. This development marks a significant step in enhancing Uzbek-Iranian ties, with both nations committing to boost mutual trade and collaboration.

According to Trend News Agency, the agreement was signed during a working visit by Uzbek Minister of Investment, Industry, and Trade Laziz Kudratov to Iran. During his visit, Kudratov engaged in discussions with Iranian First Vice President Mohammad Reza Aref and Minister of Industry, Mines, and Trade Mohammad Atabak. These talks focused on reviewing the current state of trade and economic relations, assessing the progress of existing agreements and joint projects, and identifying priority areas for further cooperation.

The bilateral discussions also led to a consensus on strategies to increase the volume of mutual trade, leveraging the framework of the Preferential Trade Agreement to create more opportunities for e
ntrepreneurs from both countries. The commitment to strengthen ties was underscored by the scheduling of the next Intergovernmental Joint Commission meeting and a business forum, both set to take place in the first quarter of 2025. These events are expected to further solidify and expand the cooperative relationship between Uzbekistan and Iran.