TEHRAN- Iran and Uzbekistan made an initial agreement for the increase in oil products and petrochemicals trade between the two countries.

The agreement was made during a meeting between Iran’s deputy oil minister and Uzbekistan’s deputy energy minister on the sidelines of Iran Plats International Exhibition in Tehran on Saturday.

In general, it is expected that a new chapter in the relations between the two countries in the field of energy and petrochemicals will be opened in the future due to the knowledge of the two sides of each other's capabilities.

Iran and Uzbekistan had also signed a memorandum of understanding (MOU) on cooperation in different energy sectors on September 18.

The MOU was signed by Iran’s Oil Minister Javad Oji and Uzbekistan’s Acting Energy Minister Azim Ahmed Khojayev on the sidelines of the 22nd Shanghai Cooperation Organization (SCO) summit in Uzbekistan.

In this meeting, the high-ranking delegations of Iran and Uzbekistan discussed joint implementation of petrochemical projects in Iran, conducting geological and exploration activities in the field of oil and gas, supply of Iranian petrochemical products in Uzbekistan, exchange of crude oil and petroleum products, and joint research for the development and commercialization of catalysts and chemicals for petrochemical plants.

Providing financial aid and supporting banking cooperation for the development of oil, gas and petrochemical industries in both countries, providing equipment needed by the oil and gas industry, cooperation in the field of creating and providing laboratory equipment and exchange of knowledge in the field of oil and gas industries, as well as the training of skilled manpower in the oil industry were also agreed upon.

MA/MA