BAKU, Azerbaijan, August 28. Uzbekistan
discussed ways to expand cooperation with South Africa in the areas
of trade, investment, and industry, including plans to organize a
business mission of about 50 companies to Johannesburg this
fall.


This was reflected in the statement by the Ministry of
Investment, Industry and Trade of Uzbekistan, following a video
conference between Minister Laziz Kudratov and South Africa’s
Minister of Trade, Industry and Competition Parks Tau.


According to the Ministry, in the course of the meeting, the
sides discussed opportunities to expand bilateral trade and
economic cooperation, increase investment and strengthen industrial
ties, as well as prospects for implementing joint projects in
priority sectors.


''Particular attention was given to preparations for a business
mission of around 50 Uzbek companies to Johannesburg this fall. The
visit is expected to include targeted business-to-business meetings
between Uzbek and South African companies aimed at identifying
potential partners and developing new commercial projects,'' the
Ministry says.


The ministers also discussed establishing an Intergovernmental
Commission to provide a structured mechanism for advancing
bilateral economic cooperation.


The sides considered preparations for agreements on trade and
investment protection and discussed launching work on a
Preferential Trade Agreement, which could provide an additional
framework for expanding bilateral trade.







“The parties agreed to continue practical work on joint
initiatives and to form a portfolio of promising projects,”
Uzbekistan’s Ministry of Investment, Industry and Trade said.


The planned business mission is expected to allow Uzbek
companies to explore the South African market and establish direct
contacts with local businesses, while creating opportunities for
South African companies to expand cooperation with Uzbek
partners.


The talks underscore efforts by Uzbekistan and South Africa to
broaden economic engagement beyond existing trade ties and develop
a more structured framework for investment and industrial
cooperation. Both sides agreed to continue coordinating their
initiatives and work toward developing concrete projects in
priority sectors.


Johannesburg is the economic and financial hub of South Africa,
producing 16% of South Africa's gross domestic product, and
accounts for 40% of Gauteng's economic activity. In a 2008 survey
conducted by Mastercard, Johannesburg ranked 47th out of 50 top
cities in the world as a worldwide centre of commerce (the only
city in Africa).