Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev and President of Mongolia Khurelsukh Ukhaa held a joint meeting with representatives from the business circles of both countries.

The event was attended by leaders of leading Mongolian companies such as MCS Investment, Mongol Basalt, Tavan Bogd Group, Asia Pharma, Khanbogd Cashmere, Erdenezoo Trans, ICT Group, ORDGEO, LBH Technology, NCD Group, Mega Wood, Modern Nomads, and others. 

Representatives from Uzbekistan included companies like Basalt Uzbekistan, BMB Holding, New Way Industries, Panaev Farms, Ezel Central Asia, Azia Metall Prof, "Jizzakh Jun", Procab, and others.

This historic event of the first business circles meeting between the two countries aims to strengthen business ties and develop multifaceted relations between Uzbekistan and Mongolia.

President of Uzbekistan expressed appreciation and gratitude to Mongolian business circles for their commitment and attention to developing trade and economic relations with Uzbekistan. He emphasized the importance of significantly increasing bilateral trade volumes in the coming years through expanding the range and volumes of mutual supplies.

Key export directions from Uzbekistan to Mongolia include foodstuffs, fertilizers, pharmaceuticals, household appliances, plastics, rubber, construction materials, textiles, and footwear. Discussions also covered increasing supplies of meat, meat products, leather, wool, and other finished products from Mongolia to Uzbekistan.

During the visit, agreements were signed on air and road communications, laying the groundwork for direct air links between the countries and enhancing business exchanges. Discussions also included the establishment of trading houses in both countries and the organization of industrial exhibitions.

The presidents also emphasized readiness to support private business initiatives and to support new projects in various sectors of the economy such as industrial cooperation, geological exploration, agriculture, light industry, digitalization, and pharmaceuticals.

As a result of the meeting, agreements were reached on mutual investment protection and tax principles, which contribute to improving the investment climate. Support was also expressed for the creation of a Joint Business Council to further develop business and generate new ideas.

Overall, the meeting marked a significant step in developing strategic partnership between Uzbekistan and Mongolia, strengthening economic ties, and expanding cooperation across various sectors.