Kyrgyzstan and Uzbekistan sign roadmap for expansion of cooperation

AKIPRESS.COM - Kyrgyzstan and Uzbekistan have signed the roadmap for expansion and deepening of cooperation, the Kyrgyz government's press service reported. Acting Prime Minister and First Deputy Prime Minister Artem Novikov and Deputy Prime Minister of Uzbekistan Sardor Umurzakov held a videoconference to discuss ways to expand commercial, economic cooperation, to broaden a range of exported products, revitalize joint projects in industrial and agricultural sectors, construct logistical centers, free economic zones in border areas of two countries.
"The agreement was reached to set up working groups between the Ministries of Economy, Agriculture, Transport and customs authorities for prompt solution of arising issues. The mechanisms and technical details of establishment of the Kyrgyz-Uzbek investment fund were discussed. The plan of actions (roadmap) for expansion and deepening of cooperation was signed, which includes a range of issues related to joint investment projects," the government's press service said.
Following the meeting of Artem Novikov with Sardor Umurzakov in Ferghana in early December it was announced the earlier signed agreement on financial cooperation will support establishment of the Kyrgyz-Uzbek investment fund with equity capital of $50 million.
The Ministries of Economy of two countries shoud complete preparation of the documents and procedures for creation of the investment fund before the end of January 2021.
From 2016 to 2019 Uzbekistan tripled exports to Kyrgyzstan from $67 million to $200 million. Kyrgyzstan's exports to Uzbekistan grew 10% - from $125 million to $138 million.