Uzbekistan intends to establish the production of vehicles and electrical products in Turkmenistan, Kursiv news agency reported with reference to the statement of the Vice-Premier, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov during the Uzbek-Turkmen Economic Forum in Tashkent on Monday.
The Uzbek official said the economic relations between the two countries should develop in several directions: an increase in trade, industrial cooperation, transport and logistics partnership and interregional cooperation.
At the forum, an agreement was reached on the opening of joint ventures. The agreement on the establishment of production of special vehicles in Turkmenistan was signed between the Uzavtosanoat and Turkmenistan-Motors companies.
The General Director of Turkmenistan-Motors OJSC Furkad Aydashev told the Kursiv agency that the enterprise is expected to produce up to 10 thousand units of agricultural machinery and trailers in its first year and increase production to 50 thousand units per year within 4-5 years.
The Uzbek-Turkmen Economic Forum was held within framework of the official visit of President Berdimuhamedov to the country. During the forum, members of the delegations of the countries signed 13 bilateral documents, including for the implementation of export-import operations for about $13.5 million.