Tashkent, Uzbekistan (UzDaily.com) -- The third meeting of the Uzbek-Saudi Business Council was held in Tashkent.

The event was attended by Deputy Prime Minister, Minister of Investments and Foreign Trade Sardor Umurzakov, Minister of Investments of the Kingdom of Saudi Arabia Khalid Al-Falih, Chairman of the Presidium of the Chamber of Commerce and Industry of Uzbekistan, co-chairman of the Business Council from the Uzbek side Adham Ikramov, Chairman of ACWA Power, co-chairman of the Business Council from the Saudi side M.A. Abunayyan, as well as First Deputy Chairman of the Uztekstilprom Association D. Vahabov.

The key topic of the event was the issues of strengthening bilateral ties between the business communities of the two countries, as a decisive factor in the further development of investment and trade and economic cooperation between Uzbekistan and Saudi Arabia.

The event with an opening speech was opened by the Chairman of the Presidium of the Chamber of Commerce and Industry of Uzbekistan, co-chairman of the Business Council from the Uzbek side Adham Ikramov. In his speech, he noted that thanks to the active cooperation between our countries, the business circles of Saudi Arabia and Uzbekistan are rapidly increasing joint cooperation in the trade, economic and investment fields.

It is worth noting that, in turn, the Uzbek-Saudi Business Council serves as an important platform for close, direct interaction between the business communities of the two countries and for holding many joint events aimed at further deepening and expanding trade, economic, investment, innovation, scientific and technical cooperation. between Uzbekistan and Saudi Arabia.

Further, the Chairman of ACWA Power, the co-chairman of the Business Council from the Saudi side, M.A. Abunayyan, made a speech, emphasizing that in recent years serious attention has been paid to the consistent expansion of economic partnership in priority areas for Uzbekistan and Saudi Arabia, as well as to intensify interaction and cooperation between representatives of the business circles of the two countries. The opportunities created for investors of Saudi Arabia in Uzbekistan were especially noted, which in turn makes a huge contribution to strengthening bilateral cooperation between Uzbekistan and Saudi Arabia.

At today’s Uzbek-Saudi Business Council, attention was paid to strengthening cooperation between the business community of the two countries.

It should be noted that in recent years, bilateral cooperation between Uzbekistan and Saudi Arabia in the political, trade, economic and investment spheres has been developing rapidly. At the same time, promising projects are being implemented between entrepreneurs of the two countries in a short period of time.

During the event, representatives of relevant organizations presented the investment potential, as well as existing opportunities for cooperation in various fields of Uzbekistan and Saudi Arabia.

During the meeting, open dialogues were held, further prospects for bilateral cooperation were discussed, and agreements were reached on the implementation of investment projects in Uzbekistan in various sectors of the economy.

In the final part of the Business Council, Deputy Prime Minister, Minister of Investment and Foreign Trade Sardor Umurzakov and Minister of Investment of the Kingdom of Saudi Arabia Khalid Al-Falih spoke.

In 2021, the trade turnover amounted to US$308 billion, exports – US$167 billion, imports – US$141 billion.