Turkiye-Uzbekistan Trade Turnover Targets $5Bn

(MENAFN- AzerNews) Vice President Cevdet Yılmaz, in his speech at the Turkiye-Uzbekistan Business Forum held at TOBB Twin Towers, said that Turkiye will reach an economic size exceeding $1tr by the end of this year, according to international estimates. Yılmaz continued his words as follows: "We are the 17th largest Economy in nominal dollar terms and the 11th largest economy in terms of Purchasing Power Parity. On the other hand, we are making efforts to reduce inflation to single digits, and as a result of the policies followed, there will be a significant decrease in inflation as of the middle of next year. "

Yılmaz stated that exports have increased more than 7 times since 2002 and reached $254 as of last year, and that they will close this year with a figure above $255bn.

THERE ARE MORE THAN 1700 TURKISH COMPANIES

Yılmaz stated that they want to increase mutual investments with Uzbekistan with a win-win principle. "Turkiye ranks third among the countries to which Uzbekistan exports the most and fifth in imports. Our bilateral trade has reached $3. Turkiye's investments in Uzbekistan have reached $1. More than 1700 Turkish companies are in Uzbekistan," he said.

Yılmaz stated that with the contributions of business people, the trade volume target of $5bn set by President Recep Tayyip Erdoğan and Uzbekistan President Şevket Mirziyoyev will be reached as soon as possible.

CONTRACTORS UNDERTAKED 269 PROJECTS

Stating that Turkish contractors have undertaken 262 projects worth $6, especially Tashkent City, Pyramit Tower and Akay City, Yılmaz expressed his belief that this value will increase in the coming period.

Yılmaz said,“I believe that the influence of our Turkish companies in the building and construction materials sector will increase with the quality services our contracting companies offer to Uzbekistan. In this context, I invite all our entrepreneurs to take an active role in the projects that Uzbekistan will implement within the scope of the 2022-2026 Development Program," he said.

Our trade has doubled

Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkiye (TOBB), stated that Turkiye-Uzbekistan commercial relations continue to develop and said, "Our trade has approximately doubled in the last five years. We are happy that the preferential trade agreement has started to be implemented as of July 1. We believe that our trade will continue to increase with the preferential trade agreement. I believe," he said. Hisarcıklıoğlu also emphasized that the business volume of Turkish contractors has more than doubled in the last five years.

Let's expand the limited number of products

DEIK President Nail Olpak also said that Turkiye was the first state to recognize Uzbekistan and that they were proud of it. Referring to the Preferential Trade Agreement that came into force, Olpak said, "When we look at it as a business world, we see a very limited number of products. While both the Vice President and the valuable Deputy Prime Minister are here, I would like to express our wish that the limited number of products should be expanded. For this, increasing the number of mutual flights will contribute. I believe he will provide it," he said.

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