Tashkent, Uzbekistan (UzDaily.com) -- As part of the visit of the delegation of the Islamic Republic of Iran, led by the Minister of Industry, Mines and Trade, Reza Rahmani to the Republic of Uzbekistan, the Uzbek-Iranian Business Forum and B2B negotiations with business circles of the two countries were held on 12 December.

The main purpose of this event was to discuss the prospects for the development of trade, economic and investment projects between Iran and the Republic of Uzbekistan.

The delegation included representatives of more than 100 leading Iranian companies that manufacture concrete, tile, plastic and polymer products, detergents, metal products, heating and cooling systems, petrochemical products, carpet products, cosmetic products, as well as companies working in the field of engineering , transport and logistics, tourism, information technology, construction, banking, agriculture, livestock, poultry.

The Minister of Industry, Mines and Trade of the Islamic Republic of Iran Reza Rahmani, Deputy Prime Minister of the Republic of Uzbekistan Achilbay Ramatov, First Deputy Chairman of the Chamber of Commerce and Industry of the Republic of Uzbekistan Islam Jasimov, Deputy Minister of Investment and Foreign Trade of the Republic of Uzbekistan Furkat Rakhimov, Deputy Minister of Transport spoke at the forum Republic of Uzbekistan Davron Dekhkanov, Deputy Minister of Energy of the Republic of Uzbekistan Sherzod Khodjaev, Deputy Minister of Agriculture economy of the Republic of Uzbekistan Saidkamol Khodjaev, as well as representatives of leading Uzbek companies attended the event.

A number of presentations from representatives of ministries and departments, as well as representatives of Uzbek companies, such as Uzkimyosanoat, Uzpromstroimaterialy, and Uzbekozikovkatholding Holding Company, were presented at the forum.

Within the framework of the business forum, negotiations between the business circles of the two countries in the B2B format took place during which the prospects for further development of the Uzbek-Iranian trade and economic cooperation were discussed, including an exchange of views on enhancing partnerships between enterprises of Uzbekistan and Iran.

At the end of 2018 commodity circulation between the countries reached US$306.5 million, of which US$172.5 million accounted for export of Uzbekistan and US$133.9 million - import.

The nomenclature of Uzbekistan’s exports to Iran consists of cotton, cotton fiber, ferrous and non-ferrous metals, mineral fertilizer, chemical fiber, while imports consist of building materials, electromechanical equipment, fruits, dried fruits, and plastic products.

Today, Uzbekistan operates 120 joint ventures with the participation of Iranian investors. Of these, 15 are with 100% Iranian capital.