Vice President Cevdet Yılmaz: Turkey is among the top three countries to which Uzbekistan exports the most

The Turkey-Uzbekistan Business Forum was held at the TOBB Twin Towers in cooperation with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the Foreign Economic Relations Board (DEİK).

The opening speeches of the forum were delivered by Vice President Cevdet Yılmaz, Uzbekistan Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov, TOBB President Rifat Hisarcıklıoğlu, DEİK President Nail Olpak, and Uzbekistan Chamber of Commerce and Industry President Davron Vahabov.

In his speech here, Hisarcıklıoğlu said that Uzbekistan is the land where Turkish culture and science flourished.

Explaining that scientists who enlightened the world and expanded the horizons of humanity, such as Biruni, Ulugh Beg, Ibn Sina, Al-Khwarizmi, and Ali Qushji, were raised in Uzbekistan, Hisarcıklıoğlu said, "Our spiritual leaders such as Imam Bukhari, Imam Maturidi, and Imam Tirmidhi are the gifts of this place, these lands. The legacy they left behind continues to enlighten not only Uzbekistan but also Anatolia. Tashkent and Ankara, Samarkand and Konya, Bukhara and Bursa, Khiva and Edirne have been breathing this spiritual atmosphere for centuries. For this reason, Uzbekistan and Turkey are two states, one nation."

Hisarcıklıoğlu stated that he is happy with the development of relations between the countries in the period following the election of Shavkat Mirziyoyev as President of Uzbekistan, and that good relations at the leadership level are directly reflected in business relations.

"Strengthening the chamber system will provide a serious contribution to the deepening and implementation of reforms"

Pointing out that the economic reforms carried out in Uzbekistan make it attractive for investment, Hisarcıklıoğlu continued as follows:

"I know that entrepreneurship and the private sector have an important place in the reforms. In this respect, strengthening the chamber system will provide a serious contribution to the deepening and implementation of reforms. One of the important areas of the reform process is increasing competitiveness and creating a suitable environment for exports. In this respect, the services to be provided to exporters are important. Necessary support, including training, for firms that want to export should be provided by the chamber system. Developing and supporting the chamber system in this direction will also be a correct and beneficial step."

Hisarcıklıoğlu stated that he is proud of the progress in the Uzbekistan economy, noting that the country's economy has practically doubled in 7 years, and said, "Turkey-Uzbekistan relations continue to develop. Our trade has nearly doubled in the last five years. We are happy that the preferential trade agreement began to be implemented as of July 1. I believe that our trade will continue to increase with the preferential trade agreement."

Emphasizing that the business volume of Turkish contractors has also increased more than twofold in the last five years, Hisarcıklıoğlu noted the following:

"Our investments also continue to increase. We need to engage in more mutual trade and investment. We are aware of this. For this, we will continue to attach importance to platforms that will bring our members together. We established the Turkish-Uzbek Chamber of Commerce and Industry Forum for this purpose. I thank Co-Chairs Osman Doğan Şahlan and Islam Jasimov. They will work more in the coming period. With the memorandum of understanding we will sign shortly, we, as TOBB and the Uzbekistan Chamber of Commerce and Industry, will have determined our sectoral priorities. By focusing on these sectors, we will increase our mutual investments and cooperation. We will share our experiences mutually."

Hisarcıklıoğlu expressed that TOBB ETÜ Tashkent will give its first graduates this year, that similar partnerships continue between Turkey and Uzbekistan in wider areas, and that he is proud of this.

"THE LIMITED NUMBER OF PRODUCTS NEEDS TO BE EXPANDED"

DEİK President Nail Olpak also said that Turkey was the first state to recognize Uzbekistan and that they are proud of this.

Drawing attention to the importance of the friendship between the two countries, Olpak underlined that as the business world, they have a duty for the great goals set by the Presidents of the two countries.

Referring to the preferential trade agreement that entered into force this year, Olpak said, "However, when we look at it as the business world, we see a very limited number of products. While both the Vice President and the esteemed Deputy Prime Minister are here, I would like to present to you our wish that the limited number of products should be expanded. The development of cooperation between us is more possible with rapprochement. For this, I believe that increasing mutual flights will contribute significantly to this."

Stating that one of Uzbekistan's potentials is tourism, Olpak stated that it is important for Turkish firms to be active in sectors related to the industry, especially hotels.

Olpak noted that it is very important to meet Uzbekistan's investment needs and that they want to hold mutual meetings regarding 6 prominent sectors.

Following the opening speeches, the meeting continued behind closed doors after the signing of the memorandum of understanding.

Vice President Cevdet Yılmaz said, "Turkey is third among the countries to which Uzbekistan exports the most, and fifth in its imports. We will move these rankings to higher levels with the efforts of our private sector."

In his speech at the Turkey-Uzbekistan Business Forum held at the TOBB Twin Towers, Yılmaz said that he finds this forum, which brings together the business worlds of two brotherly countries, important because it is a platform where business people will get to know each other, friendship circles will expand, and business connections will be established, and he believes that the forum will provide concrete outputs in terms of raising comprehensive cooperation to a new level.

Thanking DEİK, TOBB, and the Uzbekistan Chamber of Commerce and Industry for their efforts in realizing the forum, Yılmaz expressed his satisfaction in seeing that cooperation with Uzbekistan, which shares a common language, history, and culture, is strengthening in every field.

Yılmaz explained that they have raised the relations between the two countries to the level of "comprehensive strategic partnership" through joint efforts, and that they attach importance to the regular execution of high-level meetings and mutual contacts that consolidate brotherhood, noting that they will hold the 7th Term meeting of the Turkey-Uzbekistan Joint Economic Commission today, and that after this meeting, they will begin preparations for the High-Level Strategic Cooperation Council meeting to be held in Turkey next year.

Stating that the Turkish economy has grown by an average of 5.4 percent annually over the last 20 years, Yılmaz noted that there was a 4.7 percent growth in the 9-month period of this year compared to the same period last year.

Yılmaz stated that Turkey will reach an economic size exceeding 1 trillion dollars by the end of this year according to international estimates, and continued his words as follows:

"We will be the 17th largest economy in nominal dollar terms, and the 11th largest economy according to Purchasing Power Parity. On the other hand, we are striving to reduce inflation to single digits; as a result of the policies followed, a significant decrease in inflation will be seen starting from the middle of next year."

Yılmaz reported that exports have increased more than 7 times since 2002, reaching 254.2 billion dollars as of last year, and that they will close this year with a figure above 255 billion dollars.

"WE MUST INCREASE MUTUAL INVESTMENTS WITH A WIN-WIN PRINCIPLE"

"Turkey is third among the countries to which Uzbekistan exports the most, and fifth in its imports. Hopefully, we will move these rankings to higher levels with the efforts of our private sector," said Yılmaz, noting that bilateral trade with Uzbekistan reached 3.5 billion dollars in 2022, Turkey's investments in Uzbekistan are 1.5 billion dollars, and over 1,700 Turkish firms are operating in different regions of Uzbekistan.

Stating that Uzbekistan should not be seen only as a market of 35 million, that it is a member of the Commonwealth of Independent States and the Customs Union, and that it is in a strategic position in a very wide geography, Yılmaz spoke as follows:

"Those who invest in Uzbekistan actually gain the opportunity to sell goods to a much larger market. The same is true for Turkey. Turkey is not just a country with a domestic market reaching 86 million, but a country that has a customs union with the European Union, has many international relations, and has bilateral free trade agreements. Uzbek firms investing in Turkey also have the opportunity to access a much larger market. Therefore, we must increase these mutual investments with a win-win principle."

Yılmaz said that with the contributions of business people, they will reach the 5 billion dollar trade volume target set by President Recep Tayyip Erdoğan and Uzbekistan President Shavkat Mirziyoyev as soon as possible and set new targets, and that the Preferential Trade Agreement, which entered into force in July, is an important step in this context.

Reporting that Turkish contractors have undertaken 262 projects worth 6.9 billion dollars, primarily Tashkent City, Pyramid Tower, and Akay City, Yılmaz expressed his belief that this value will increase further in the coming period.

Using the expression, "It is of great importance for the business world to evaluate the trade and investment opportunities between Turkey and Uzbekistan and to fully reveal this potential," Yılmaz stated that as Turkey, they prioritize the contribution they will make to the regional economy beyond mere economic reasons in the region, and that they act with the motto of developing together.

In this framework, Yılmaz stated that he believes holding a Turkish Export Products Fair in Uzbekistan simultaneously with the next Joint Economic Commission meeting will be very beneficial for bilateral trade relations, and said that they will continue their support for Uzbekistan's full membership process to the World Trade Organization (WTO) in the coming period as always.

"I BELIEVE THE INFLUENCE OF OUR TURKISH FIRMS WILL INCREASE"

Stating that Turkey and Uzbekistan play very important roles in the Organization of Turkic States and that he believes the Turkish Investment Fund, which will become operational soon, will offer very important opportunities, Yılmaz said, "I believe that significant contributions will come from this fund, especially to the joint projects that our business world will develop."

Emphasizing his belief that the Transport Action Plan will also bring new opportunities to the business world, Yılmaz noted the following:

"I am making a call to you, esteemed business people, from here. Please evaluate the investment opportunities in many fields in Uzbekistan, especially in the energy, electronics, mining, agriculture, health, informatics, and construction sectors, and establish partnerships with Uzbek firms. I believe that the influence of our Turkish firms will increase in the construction and building materials sector, along with the quality services our contracting firms offer to Uzbekistan. In this framework, I invite all our entrepreneurs to take an active role in the projects that Uzbekistan will implement within the scope of its 2022-2026 Development Program."

Stating that climate problems have become the biggest threat, Yılmaz expressed the following:

"In this framework, our cooperation and experience sharing in the fields of renewable energy, electricity market regulation, nuclear energy, pipeline management, and mining are very valuable. We have to use water very efficiently. In the processes we are experiencing with climate change in the world, water has become a very precious strategic asset. I think that experience sharing and joint projects here are also very valuable for both Uzbekistan and Turkey. We must attach great importance to the issue of water in the agricultural sector, from sprinkler and drip systems to converting the plant pattern to products that consume less water."

Vice President Yılmaz stated that he wholeheartedly believes that Turkey-Uzbekistan relations will reach a very different level in the Century of Turkey, and that they will carry relations to the highest level together with the private sector and the public.

Following the speeches, 8 memorandums of understanding regarding cooperation in various fields were signed between the business worlds of Turkey and Uzbekistan.

News Source: 12punto