Uzbekistan and International Islamic Trade Finance Corporation sign $600 million partnership agreement

On March 4, the Minister of Investments, Industry, and Trade, Laziz Kudratov, participated in a round-table discussion of the Arab Coordination Group in Tashkent, as reported by the ministry's press service.

The event's primary objective was outlined as reviewing the implementation process of current joint projects involving organizations of the Arab Coordination Group (ACG) and identifying new promising initiatives in the priority sectors of the economy.

During the event, a framework agreement valued at $600 million was signed between the International Islamic Trade Finance Corporation and the ministry.

This agreement encompasses funding for trade and the development of commerce, financing for agriculture and food security, support for state enterprises, and facilitation of investments in critical sectors such as pharmaceuticals, food, agriculture, and textiles.

It was also noted that in 2024, the Minister of Investments, Industry, and Trade will continue to support local banks with technical assistance through the solutions of the newly integrated trade ministry.