Uzbekistan, Iraq boost trade turnover volume

Trade turnover volume between Uzbekistan and Iraq amounted to $22.1 million in 2023, Azernews reports.

This was announced at a meeting between Deputy Chairman of Uzbekistan’s Chamber of Commerce and Industry Umidjon Safarov and Charge d'Affaires of Iraq in Astana Jaber al-Tamimi.

The sides noted that Uzbekistan's trade turnover with Iraq amounted to $12.1 million in 2022.

The parties discussed signing a Memorandum of Cooperation between the two countries' Chambers of Commerce and Industry to improve cooperation. They also agreed on joint events, business forums, and B2B meetings with Uzbek and Iraqi business circles.

The attendees also addressed logistics, commerce, and economic relations, and given Iraq's high demand for Uzbek products, a proposal was made to start buying textile, food, and agricultural items.

Meanwhile, Uzbekistan's foreign trade turnover volume amounted to $62.6 billion in 2023. The exports reached $24.4 billion, while the imports totaled $38.1 billion.

The largest volume of foreign trade turnover was recorded with China (21.9 percent), Russia (15.8 percent), Kazakhstan (7 percent), Türkiye (5 percent), and Korea (3.7 percent).