TASHKENT: Uzbekistan and Kyrgyzstan plan to increase the volume of trade turnover to $2 billion in the coming years, Trend reports.

The news followed a meeting between the President of Uzbekistan, Shavkat Mirziyoyev, and the President of Kyrgyzstan, Sadyr Zhaparov, in an enlarged format with the participation of official delegations of the two countries.

The sides discussed specific measures to increase trade turnover, primarily through import substitution programs and support for cooperation projects. For this purpose, a program to increase the volume of mutual trade is being adopted during the visit.

In addition, the parties agreed to establish trade houses in the two capitals, introduce instruments of pre-export financing, and launch a green corridor for accelerated transportation of agricultural and livestock products.

Meanwhile, the trade turnover volume between Uzbekistan and Kyrgyzstan reached $294.3 million from January through May 2024. This figure indicates a 42.8 percent decrease compared to th
e same period last year ($420.4 million in January-May 2023).

Uzbekistan’s exports to Kyrgyzstan totaled $195.3 million, while the volume of imports from Kyrgyzstan to Uzbekistan reached $99 million.

Source: Trend News Agency