KABUL (Pajhwok): The first joint exhibition of Afghan and Uzbek light industries opened in Uzbekistan’s Termez city on Wednesday, with officials saying the event aims to boost trade, investment and joint production between the two countries.
The Ministry of Commerce and Industry (MoCI) said in a statement that Minister Nooruddin Azizi, speaking at the opening ceremony, said the exhibition was aimed at expanding economic and trade cooperation and moving beyond trade exchanges towards joint production and investment.
He said Afghanistan had significant potential in carpets, textiles, clothing, leather products, food processing and processed agricultural products, while Uzbekistan had extensive capacities in production, technology, textiles, machinery and processing.
Azizi stressed the importance of holding business-to-business meetings between the private sectors of the two countries, saying the exhibition should result in trade agreements, joint investment, increased production and expanded exports.
Ulugbek Kasimov, governor of Uzbekistan’s Surxondaryo region, described Afghanistan and Uzbekistan as two friendly and brotherly countries.
He stressed the need to continue cooperation and expand trade and transit relations between the two countries.
According to the statement, Afghanistan’s Ghazanfar Bank and Uzbekistan’s commodity exchange, UzEx, also signed a cooperation agreement on the sidelines of the exhibition.
Under the agreement, traders can deposit 10 percent of the value of goods into their Ghazanfar Bank accounts when purchasing goods and pay the remaining 90 percent after the goods are ready.
The agreement also enables Uzbek traders to purchase Afghan products, the statement said.
MoIC said the exhibition would continue for three days, with products from Afghanistan and Uzbekistan displayed at more than 100 stalls.
Afghan stalls feature carpets, saffron, precious and semi-precious stones, handicrafts, cotton, dried fruits and clothing.
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