On February 27, virtual talks were held between the Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov and the Minister of Investment of the Kingdom of Saudi Arabia Khalid Al-Falih.

The parties considered the current issues of investment, trade and economic cooperation, as well as the implementation of the agreements reached following the visit of the government delegation of the Republic of Uzbekistan to Saudi Arabia, in May last year.

The main attention was paid to the opportunities for attracting additional Saudi investment in the energy sector and the development of energy infrastructure. A special role in this direction was noted for the Saudi company ACWA POWER, which is already implementing projects in Uzbekistan worth about $3 billion.

The Saudi side expressed its readiness for close interaction in attracting investments for the implementation of additional projects in agriculture, chemistry and petrochemistry, as well as metallurgy in Uzbekistan.

The parties reached an agreement to organize a meeting of the IGC this year, a joint meeting of the Business Council, as well as an exhibition “Made in Uzbekistan” in the cities of Riyadh and Jeddah.

Issues of increasing mutual tourist flow through the establishment of regular direct passenger flights between the two countries were also considered.

Following the meeting, practical actions were agreed on further deepening cooperation in priority sectors.

Source: UzA