On March 9 this year, Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov met with Minister of Foreign Affairs of Mongolia Battsetseg Batmunkh, who is on a visit in Tashkent.

During the talks, the current state and prospects for the development of cooperation in the field of trade, economy, investment and industrial partnership between the two countries were discussed.

The positive dynamics of the mutual trade turnover growth, which has tripled in recent years, was noted. Emphasizing the existence of a number of opportunities for a significant increase in current indicators, the parties agreed to create a Working Group to identify opportunities and take measures to expand the range and increase the volume of bilateral trade between the two countries.

The prospects for expanding investment cooperation and industrial partnership were analyzed. The adoption of a Joint Program for the Development of Industrial Partnership, including specific project proposals in the fields of agriculture, light and electrical industries, as well as the intensification of work on the creation of the Uzbek-Mongolian Business Council, were designated as priority measures in this direction. In this context, the parties agreed to hold joint business forums and fairs in Tashkent and Ulaanbaatar.

Following the meeting, an agreement was signed on the establishment of a joint Intergovernmental Commission on Cooperation between the Republic of Uzbekistan and Mongolia, which will serve as a basis for the practical realization of the potential of the multifaceted agenda of Uzbek-Mongolian cooperation.