TPO official:

Good deals reached during Iranian minister’s Uzbekistan visit

The Iranian administration aims to make use of political capacities to expand economic relations with countries in the region, the deputy director of International Business Promotion of Iran Trade Promotion Organization says.

News ID: ۸۲۲۲۱۹

30 January 2024

“Considering the approach of the current administration for maximum utilization of political capacities for development of economic and commercial relations, this opportunity can be used in the best possible way,” Mohammad-Sadegh Ghanadzadeh said on Monday, referring to Aliabadi’s recent trip to Tashkent.

Ghanadzadeh said the central banks of Iran and Uzbekistan agreed during the trip to activate the banking exchange mechanism and to introduce commercial banks to advance technical negotiations between the two countries.

The Uzbek government also accepted the most favored nation (MFN) principle in its dealings with Iran after several years of fruitless talks, he said, adding that the two sides signed a preferential trade agreement (FTA).

The official further explained that the two sides reached extensive agreements under which Iran will participate in the overhaul of gas turbines and establishment of a regional service center for the repair and overhaul of oil, refinery and power plant equipment in Uzbekistan.

Tehran will also cooperate in the construction of gas pressure boosting stations for Uzbekistan and will participate and invest in the construction of thermal power plants in the country, Ghanadzadeh added. / Mehr