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Uzbekistan willing to boost number of joint investment projects with US in Afghanistan

23 July 2020

Representatives of Uzbekistan, Afghanistan and US held a trilateral videoconference meeting within the trilateral format of Uzbekistan-USA-Afghanistan cooperation, Trend reports citing the Ministry of Investment and Foreign Trade of Uzbekistan. 

In accordance with the agenda, a wide range of issues were discussed, including strengthening interconnection and expanding economic cooperation, interaction in the development of energy and transport infrastructure, in cross-border trade, agriculture, healthcare, pharmaceuticals, the creation of cross-border value chains, economic empowerment of women, as well as establishing cooperation between private businesses of the three countries.

During the meeting, it was noted that the developed trilateral format of cooperation symbolizes a new stage in the development of trade and economic partnership between the participating countries and is designed to become an effective mechanism for addressing common challenges.

Special attention was paid to the issues of trade and investment partnership -- the parties stressed the significant prospects for cooperation in energy, healthcare, pharmaceuticals and agriculture. The Uzbek side has expressed willingness to continue systemic work to further boost the number of joint investment projects and volumes of mutual trade, as well as regional projects in developing energy and transport infrastructure.

One of the priority initiatives within the new format has been identified as the creation of Investment Fund with the support of the US, which would allow to finance private sector projects both in Uzbekistan and Afghanistan.

It was stated that the parties were interested in developing transport communications in the region and, in particular, the Trans-Afghan corridor in order to revive transport traffic in the region and ensure mutual unhindered access to promising markets.

A special emphasis has been placed on bolstering interaction between business communities. Prospects for organizing a trilateral business forum Uzbekistan-USA-Afghanistan with participation of business circles of three countries have been discussed during the meeting.

At the end of the meeting, the sides agreed on elaborating a joint strategy of activities and forming effective mechanisms of implementing joint projects and initiatives.