Uzbekistan, Georgia expand electrical engineering ties

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan and Georgia have agreed to expand trade, economic, and investment cooperation, placing special emphasis on the development of the electrical engineering industry. The corresponding agreements were reached within the framework of the state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to Georgia.

One of the priority areas will be expanding the export of Uzbek electrical engineering products to the Georgian market. It is noted that Georgia's annual import of cable products, transformers, and other electrical engineering items exceeds US$1 billion, which opens up additional opportunities for Uzbek manufacturers.

To make more effective use of Georgia's transport and logistics potential, there are plans to establish a trade, logistics, and production center in the Poti Free Industrial Zone. It is envisaged that Uzbek enterprises, including manufacturers of electrical engineering products and household appliances, will be able to perform the final stages of production there and export finished products to third countries through the port of Poti.

Following the visit, the sides also reached agreements on the implementation of 70 trade and investment projects with a total value of approximately US$1 billion.

In addition, cooperation is scheduled to expand in agriculture, the pharmaceutical industry, and tourism.

Specifically, in the Surxondaryo region, plans include increasing the area of an olive cultivation and olive oil production project to 2,000 hectares, establishing a regional hub for the production of livestock and aquaculture feed, organizing the local production of goods from Georgian pharmaceutical companies, and implementing joint projects for the construction of hotels, tourist complexes, and modern tourism infrastructure.

A joint investment fund will be created to finance these joint initiatives. The parties also intend to adopt a separate cooperation program covering the development of trade, investments, and transport corridors.

The next meeting of the Intergovernmental Commission and the first Interregional Forum of Uzbekistan and Georgia are scheduled to be held in October of the current year in Georgia.