Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev held a meeting on plans for economic and investment cooperation with Türkiye and Saudi Arabia.

During the official visit of the President of Uzbekistan to Türkiye last week, numerous agreements were reached.

In particular, following the results of the third meeting of the Uzbek-Turkish Strategic Cooperation Council and meetings with the heads of leading companies of the two countries, 158 new projects worth US$10.1 billion were formed. These projects cover sectors such as industry, energy, mining and geology, transport, healthcare and agriculture.

At the meeting, information was presented on measures that will be taken for the further development of trade and economic cooperation.

It is planned to expand the range of goods under the bilateral Preferential Trade Agreement, reduce tariffs and duties on textile, leather, footwear, electrical and handicraft products, as well as open a trade mission of Uzbekistan in Istanbul.

In addition, it is planned to develop a roadmap for the development of mountainous areas using Turkish experience, introduce an agricultural insurance system and open an Uzbek-Turkish Seed Testing Center that meets international standards.

The President also gave additional instructions on expanding the portfolio of promising projects with large Turkish companies and developing interregional cooperation.

Investment cooperation is actively developing with Saudi Arabia. A list of 34 investment projects with a total value of US$24.1 billion with the participation of Saudi companies has been compiled.

This year it is planned to disburse funds in the amount of US$2.5 billion, including US$1.5 billion of investments in the framework of additional 13 projects in the fields of transport, digitalization, infrastructure, healthcare and energy.

At the meeting, special attention was paid to intensifying the activities of the Uzbek-Saudi Business Council. The importance of completing negotiations and beginning practical work on new promising projects in the field of ecology, the mining industry and financial cooperation with a total value of US$6.5 billion, formed within the council, was emphasized.

The President, having familiarized himself with the reports and plans, instructed the responsible persons to take measures for the full and high-quality development of foreign investments and to establish strict control over the implementation of projects. He set the task of conducting a constant dialogue with investors, creating the most favorable conditions for them and systematically resolving issues that arise during the implementation of projects.