Tashkent, Uzbekistan (UzDaily.com) — Minister of Investments, Industry, and Trade of Uzbekistan, Laziz Kudratov, held a meeting with the Secretary-General of the Economic Cooperation Organization (ECO), Asad Majid Khan.

Over the past five years, Uzbekistan’s foreign trade turnover with ECO member states has increased by 37%, reaching US$12.3 billion by the end of 2023. This year alone, over 900 new enterprises with capital from ECO countries have been established in Uzbekistan, bringing the total number of such companies to over 5,000. In the past three years, investments from ECO countries into Uzbekistan’s economy have exceeded US$5 billion.

Laziz Kudratov emphasized the important role of the ECO Secretariat in strengthening cooperation among member states, which encompass half a billion people and possess one-third of the world’s energy resources. He noted the significant potential for developing ties in trade, industry, transport, and energy.

Asad Majid Khan, in turn, commended the reforms being implemented in Uzbekistan and expressed readiness to support the development and coordination of projects aimed at strengthening trade and economic interaction. Among these initiatives are the ECO Agreement on Trade Facilitation and the concept of establishing a Center for Trade, Investment, and Innovation, which are currently under coordination with member states.

Following the negotiations, the parties confirmed their intention to deepen cooperation within the ECO framework and discussed opportunities for member states to participate in the International Industrial Exhibition "INNOPROM. Central Asia," scheduled to take place in Tashkent in April 2025.