Creation of the Turkmen-Uzbek Business Council was announced at the government meeting in Ashgabat, Trend reports with reference to the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET).
This structure is being created in accordance with the agreement between the chambers of commerce and industry of the two countries signed during the state visit of the Turkmen president to Uzbekistan in April 2018.
The main goals of the council include strengthening of fruitful cooperation between the business communities of the two countries, organization of joint conferences and exhibitions promoting the goods of Turkmen producers in the Uzbek market, as well as supporting development of entrepreneurship.
In April 2018, the two countries signed contracts and memorandums that envisage joint projects worth a total of over $250 million.
Turkmenistan and Uzbekistan, which have impressive reserves of hydrocarbon resources, are in favor of diversification of energy flows. The implementation of the Turkmenistan-Uzbekistan-Kazakhstan–China gas pipeline project, which was put into operation in 2009, is a good example of this.
Ashgabat is ready to intensify cooperation in the framework of the project on the supply of electricity from Central to South Asia through the Turkmenistan-Uzbekistan-Tajikistan-Afghanistan-Pakistan route.
At this stage, the two countries are also discussing a project to establish the Uzbekistan–Turkmenistan–Iran-Oman transport route. This will significantly increase international transit traffic and provide a new communication corridor to world markets.
