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Uzbekistan, Cyprus discuss bilateral cooperation

BAKU, Azerbaijan, May 16. On May 15, the Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov met with the Minister of Foreign Affairs of the Republic of Cyprus Konstantinos Kombos, TurkicWorld reports.

The discussion centered on the current state of Uzbek-Cypriot relations, as well as support for strengthening cooperation between the business communities of both countries.

Positive dynamics of economic interaction were noted, reflected in the growth in the volume of mutual trade and the number of joint ventures in recent years. Mutual readiness was expressed to stimulate the expansion of investment partnerships and industrial cooperation.

At the end of 2023, the volume of Uzbek-Cypriot trade turnover increased 8 times. Currently, there are 80 enterprises with Cypriot investments operating in Uzbekistan, including 54 with 100% Cypriot capital.

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