Iran, Uzbekistan set to sign transport cooperation agreement soon

By bne Tehran bureau March 7, 2024

Iran and Uzbekistan plan to sign a comprehensive transport cooperation document in the near future, according to Iran's Minister of Roads and Urban Development Mehrdad Bazrpash, IRIB News reported on March 6.

Iran’s trade with Uzbekistan stood at $370mn during the initial 10 months of the current Persian calendar year (March 21, 2023 - January 20), with Iranian exports at $270mn and imports at $100mn. Bilateral trade amounted to $500mn in 2023, according to a report by Uzbekistan Statistics Agency.

Bazrpash made this remark during the meeting with Uzbekistan’s Minister of Energy, Jorabek Mirzamahmudov, in Tehran.

During the meeting, Bazrpash and Mirzamahmudov stressed the need for a joint transport committee, a transit road map, and a comprehensive transport cooperation document between the two countries.

On his trip to Tehran, Mirzamahmudov led a team comprising deputy ministers from various ministries such as transportation, mining, trade and investment, along with business owners from the private sector, from March 3 to March 6.

Bazrpash said: “By creating a roadmap for transit and transportation, we establish the foundation for commercial cooperation.”

He mentioned that Iran is prepared to construct railway and road transportation routes in Uzbekistan, and a memorandum of understanding (MoU) is being implemented to export technical and engineering services.

Uzbek officials expressed their desire for Iranian companies' participation and presence in railway and road construction in Uzbekistan. 

Iran and Uzbekistan have agreed to increase trade volume between Iran and Uzbekistan to $1bn by 2025.

Related Articles

Administered price hikes will take bite out of Uzbekistan growth, says ADB report

Uzbekistan’s growth rate is forecast to weaken to 5.5% in 2024 from last year’s 6% and 2022’s 5.7%, according to the newly released ... more

EU, Uzbekistan forge partnership aiming to pave way for critical raw material supplies

The European Union on April 5 signed a memorandum of understanding (MoU) with Uzbekistan ... more

Uzbekistan hopes for FDI boost from third annual Tashkent International Investment Forum

Uzbekistan will hope to boost its already surging foreign direct investment (FDI) at the third annual Tashkent International Investment Forum, announced for May 2-3 at Tashkent City Congress Hall. ... ... more

Dismiss