Markazi province: Uzbekistan Ambassador in Iran, Fariddin Nasriyev, has announced that trade exchanges between Iran and Uzbekistan are projected to rise to $2 billion, following directives from the presidents of the two nations. He made this statement during a joint economic meeting involving Iranian and Uzbek businesses, as well as members of the Arak Chamber of Commerce, Industries, Mines, and Agriculture.

According to Islamic Republic News Agency, Nasriyev highlighted the growing economic cooperation between Iran and Uzbekistan. He noted the establishment of four weekly direct flights between Tehran and Tashkent, which facilitate collaboration. During recent talks, Uzbekistan’s Prime Minister visited Iran with a 150-member delegation, resulting in an agreement that allows for the tax-free exchange of 10 goods from each country.

Nasriyev acknowledged transportation and financing as major challenges in bilateral trade. He also expressed a desire to enhance provincial cooperation, specifically mentioning ongoing discussions about establishing sister-city relations between Arak and a city in Uzbekistan.

The ambassador emphasized Uzbekistan’s willingness to fully cooperate with Iran’s private sector. He revealed that Uzbekistan has attracted over $35 billion in foreign investment in its agricultural sector this year and invited Iranian businesses to explore opportunities in Uzbekistan.

Currently, over 250 Iranian companies are operating in Uzbekistan, demonstrating significant potential for collaboration. Nasriyev pointed out that all Uzbek provinces have special economic zones where Iranian businesses can establish factories and production units, benefiting from tax exemptions and other advantages.