On May 8 this year, Deputy Prime Minister of the Republic of Uzbekistan S. Umurzakov held a video-conference with Private Sector Industry and Investment Adviser to Honorable Prime Minister of the People's Republic of Bangladesh Salman F Rahman, as well as Minister of Commerce of the People's Republic of Bangladesh Tipu Munshi and Minister of Textiles and Jute Golam Dastagir Gazi.
During the conversation, the parties noted significant prospects for cooperation in the investment area, mainly in the textile and pharmaceutical industries. They discussed the prospects to establish joint textile clusters, as well as attract leading experts from Bangladesh as consultants on the development of the textile industry in Uzbekistan.
Currently, there is a great potential for industrial cooperation in the pharmaceutical industry. Here, it is planned to strengthen cooperation between the Agency for the Development of the Pharmaceutical Industry and the Association of the Pharmaceutical Industry of Bangladesh.
The parties noted the importance of further expansion of supplied products range demanded in the markets of two countries within agricultural, chemical and electrical industries. Measures taken to increase their supplies will significantly increase mutual trade.
The parties agreed to intensify the joint elaboration of bilateral documents, including the Double Taxation Avoidance Agreement and Agreement on Cooperation within Plants Quarantine.
They paid particular attention to the interaction in the cultural and humanitarian areas. They agreed to establishing close ties between the Silk Road International University of Tourism in Samarkand and the Jahangirnagar University in Dhaka. The parties considered opportunities for cooperation in tourism, in particular under Umra+ Pilgrim Program, as well as organization of Uzbekistan and Bangladesh culture and art festivals in both countries.
Separately, the agenda included pandemic counteraction and measures taken by countries to minimize negative consequences affecting the further implementation of investment and trade potential.
The negotiations resulted in agreement to create a joint Working Group involving deputy heads of foreign economic departments of two countries to coordinate the deepening of cooperation in commerce, investments and transportation hereunder.
