Tashkent, Uzbekistan (UzDaily.com) - On 15 February this year, in the format of a video conference, negotiations were held between the Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov with the First Deputy Prime Minister of the Republic of Tajikistan Davlatali Saidov.

During the dialogue, the high level of strategic partnership between the Republic of Uzbekistan and the Republic of Tajikistan was noted and commitment was expressed to further develop investment and trade and economic cooperation by intensifying bilateral contacts at various levels.

At the meeting, the parties exchanged views on key issues on the agenda, considering a number of topical issues of interaction in the areas of trade, industrial cooperation, transport, water resources, and the banking and financial sector.

Special emphasis was placed on the development of cooperation ties between specific industrial enterprises of the two countries with a focus on the production of high-value-added technology products in the electrical and mechanical engineering industries, which are in demand in the markets of the region's countries and the markets of third countries.

A promising direction, according to the general opinion of the parties, is the joint implementation of projects for the implementation of automated control and metering systems for electricity "ASKUE", as well as remote control of outdoor lighting "ASDUNO" at industrial facilities of the Republic of Tajikistan.

The parties also agreed to intensify joint work to improve conditions for the development of the volume of mutual trade by consistently eliminating existing technical barriers and ensuring favorable access of Uzbek and Tajik products to the markets of the two countries, which, among other things, will make it possible to fulfill the task set to bring its volume up to US$1 billion in the short term. It was agreed that the parties will quickly complete work on the creation of national trading houses and industry showrooms in the cities of Tashkent and Dushanbe.

It is planned to intensify cooperation on the modernization of a number of hydraulic structures and facilities by attracting financial and technical assistance from international financial institutions and donors, and developing a mechanism to ensure a stable and timely flow of water to Uzbekistan from reservoirs in Tajikistan.

As a result of the negotiations, an agreement was reached on the creation of a joint working group consisting of the heads of key ministries and departments of the two countries, whose tasks will include monitoring the implementation of bilateral agreements, analyzing the untapped potential for expanding investment cooperation and studying the market conditions of the two countries to develop specific proposals for increasing volumes of mutual trade.

It was also agreed that the parties will develop a separate "Road Map" to promote joint initiatives in the areas of investment, trade and economic, transport and water and energy cooperation.