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The sides also sign a document on trade and investment cooperation
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hirun / iStock [Photo source]
Indonesia’s Minister of Trade, Budi Santoso, and Uzbekistan’s Minister of Investment, Industry and Trade, Laziz Kudratov, launched negotiations via videoconference aimed at concluding a free trade agreement between the two countries. This was reported by ANTARA.
He expressed hope that the free trade agreement between Indonesia and Uzbekistan would expand market access for each country, strengthen value chains by improving production and supply processes, and create tangible opportunities for businesses, including micro, small and medium-sized enterprises.
It is noted that Uzbekistan is a strategic partner of Indonesia in Central Asia. Owing to its geographical location, it may serve as a gateway for Indonesian products, enabling access through Uzbek territory to the markets of other countries and allowing Indonesia to strengthen its trade positions.
The Minister of Investment, Industry and Trade of Uzbekistan reaffirmed his firm commitment to deepening cooperation with Indonesia.
Alongside the launch of the free trade agreement negotiations, the ministers signed a trade and investment cooperation agreement providing for the establishment of a joint working group. It is expected to enhance the exchange of information and technical expertise, identify and implement mutually beneficial projects, and organise joint training programmes, meetings and seminars.
The report states that in 2025 total trade between Indonesia and Uzbekistan reached US$181.4 million, reflecting growth of 48.9 per cent over the past five years (from 2021 to 2025).
A Free Trade Agreement (FTA) is concluded between two or more countries with the aim of facilitating mutual trade by reducing or eliminating trade barriers and protecting investors and intellectual property rights.
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