TEHRAN – Deputy Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) for International Affairs Mohammad-Reza Karbasi held an online meeting with Mukhtor Umarov, the chairman of the Association of Exporters of Uzbekistan, in which the two sides expressed the need for implementing a trade agreement between the two countries’ chambers of commerce.

As reported by the ICCIMA portal, in this meeting Karbasi announced the signing of a Memorandum of Understanding (MOU) between ICCIMA and the Chamber of Commerce and Industry of Uzbekistan with the aim of forming a joint Iranian-Uzbek trade committee and noted that this MOU can be a big step toward the expansion of economic relations between the two countries.

According to Karbasi, the Iran-Uzbekistan Joint Trade Committee is in charge of implementing the provisions of the mentioned memorandum.

The official underlined some of the advantages of Iran as a trade partner like extensive infrastructure, significant economic potentials, efficient manufacturing sectors, highly skilled human resources, and expertise and noted that the country could be a gateway for Uzbekistan’s trade relations with other countries in the region and in Asia.

He further mentioned Iran's favorable geographical position, saying: “Iran has the shortest and fastest routes for the transit of goods between Europe and East Asia, as well as between a large part of Russia and West Asia and North African region.”

Iran's special position in the region, both geopolitically and in terms of security, provides a stable and growing prospect for investment and economic cooperation with countries all around the world, he added.

According to Karbasi, removing banking barriers and problems, reducing customs tariffs, reducing transportation costs and providing the necessary facilities in the field of rail transportation, and increasing the number of active wagons between the two countries is necessary for the growth of trade and investment between Iran and Uzbekistan.

The value of trade between the two countries increased from $186 million in 2018 to $411 million in 2019, the official stressed.

EF/MA