OREANDA-NEWS. June 10, 2011. The regular meeting of the Intergovernmental Joint Commission of Uzbekistan and Saudi Arabia to monitor progress in implementing the Agreement on cooperation in trade, economy, science and technology, culture, sports and youth affairs was held in Tashkent.

The event was attended by the heads of ministries and departments, companies and concerns of the two countries responsible for the sphere of external economic relations, investments, oil and gas, commerce and industry, science and education, tourism, chemical industry, health, agriculture and water resources.

First Deputy Prime Minister of the Republic of Uzbekistan, co-chairman of the joint commission, Rustam Azimov emphasized the consistent development of cooperation between Uzbekistan and Saudi Arabia in economy, trade, investment, cultural and humanitarian spheres at the forum.

Agreements between Uzbekistan and Saudi Arabia are in force on avoidance of double taxation, promotion and protection of investments. Intergovernmental joint commission meets regularly. Chambers of Commerce of the two countries signed a document on mutual cooperation.

Two countries are expanding cooperation in the humanitarian sphere, too. On 25-31 March of this year, days of culture of Uzbekistan took place in the Kingdom of Saudi Arabia.

“Saudi Arabia is one of the states, actively investing in the economies of different countries,” said the chairman of the General Agency of Saudi Arabia on investment, the joint commission co-chairman Amr Abdullah Al-Dabbagh. “In cooperation with Uzbekistan, we intend to implement promising projects. Uzbekistan created all conditions for successful activities of foreign investors.”

During the meeting, sides exchanged views on further expanding and strengthening the scope of trade-economic and investment cooperation, development and implementation of mutually beneficial projects. The volume of bilateral trade, increase the number of joint ventures and expand the types of products were highlighted. The implementation of high-tech joint projects in the industrial free-trade zone “Navoi” was considered.

Within the event a business forum and cooperation exchange were held with representatives of companies and enterprises of Uzbekistan and the business community of Saudi Arabia.