Tajikistan, Turkiye vow to boost trade and economic cooperation
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Co-chaired by Tajik Minister of economic Development and Trade Zavqi Zavqizoda and Turkish Minister of Trade Mehmet Muş, a forum of business circles of the two countries took place in Dushanbe on November 10.
The sides signed a roadmap aimed at increasing the bilateral trade between Tajikistan and Turkiye. The document provides for increasing the bilateral trade between the two countries to 1 billion U.S. dollars during 2023-2025.
The parties also signed a memorandum of understanding (MoU) cooperation between Tajikistan and Turkiye on free economic zones.
Speaking at the meeting, Turkish minister noted that there was still room for further expansion of trade and economic cooperation between the two countries.
According to him, the bilateral trade between Turkiye and Tajikistan has neared US$400 million since the beginning of the year.
Mehmet Muş expressed confidence that the bilateral trade between the two countries will reach US$450 million this year and US$1 billion within the coming years.
Meanwhile, according to data from the Agency for Statistics under the President of Tajikistan, has valued at US260 million over the first nine months of this year, which is 5.8 percent fewer than in the same period last year. This consisted of Tajikistan’s exports to Turkiye estimated at US$144 million and Tajikistan’s imports from Turkiye worth US$116 million.
Tajik minister, for his part, outlined sectors like hydropower, agriculture, mining and tourism as areas, which could drive the bilateral trade between the two countries.
According to data from the State Committee on Investment and State-owned Property Management of Tajikistan, Turkiye invested US$221.7 million in Tajikistan’s economy during the period from 2007 to 2021. These funds were reportedly invested in the financial industrial and trade sectors.