TEHRAN – Iran and Uzbekistan have signed several memorandums of understanding (MOU) in various fields including transportation, transit, investment, and insurance for expanding economic ties.

As reported by the portal of Iran’s Transport and Urban Development Ministry, Iranian Transport Minister Mehrdad Bazrpash and his Uzbek counterpart on Sunday signed a document on comprehensive transportation and transit cooperation.

The MOU is signed with the aim of strengthening cooperation in international transportation corridors while improving transit routes, developing road and rail transportation between the two countries, and facilitating the connection of Iran to the countries of Central Asia through Uzbekistan.

Based on the signed document, all official duties will also be removed for the two sides’ road transportation fleets passing through each other's territories.

The two sides have also expressed willingness to increase the number of regular flights, and the Civil Aviation Organization of Iran expressed its readiness to hold specialized aviation training courses for the Uzbek side.

Meanwhile, Iranian Finance and Economic Affairs Minister Ehsan Khandouzi also signed two MOUs with the Minister of Investments, Industry, and Trade of the Republic of Uzbekistan Laziz Kudratov for establishing joint free zones and expanding cooperation in investment and insurance sectors.

Also, the ministers discussed the establishment of an investment company to transfer Iran's technical know-how to Uzbekistan.

It should be noted that the mentioned agreements and MOUs have been signed as part of the President of Uzbekistan Shavkat Mirziyoyev’s official visit to Iran on top of a high-ranking politico-economic delegation.

Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) also hosted an Iran-Uzbekistan business forum on Saturday concurrent with the visit of Uzbekistan’s president to Tehran.

The forum was attended by high-ranking officials from both countries including Kudratov and Iranian Industry, Mining and Trade Minister Abbas Ali-Abadi, and ICCIMA former Head Gholam-Hossein Shafeie.

Representatives from 50 different Uzbek companies also participated in the event.

The Uzbek companies attending the forum were active in different areas including agriculture, sweets, chemicals, cosmetics and drugs, construction materials, digital technologies, mining and geology, irrigation systems, plastic and textile industries, electronic equipment, leather, jewelry, and auto industries, energy, and transportation.

EF/MA