The Uzbek Ministry of Investment, Industry and Trade has announced the successful bilateral implementation of the necessary procedures for the entry into force of the Protocol on Exemptions from the Free Trade Regime to the Agreement between the Government of Uzbekistan and the Government of Turkmenistan. This agreement outlines the primary directions for long-term trade and economic cooperation and was signed on July 16, 2024 in Tashkent.
With this step, a free trade regime between Uzbekistan and Turkmenistan has been established from February 25, 2025.
In 2024, trade turnover between the two countries totaled $1.14 billion, an increase of 5.5% compared to the previous year.
As a result of the implementation of the new regime, customs duties on goods produced within the territories of both countries have been eliminated, with the exception of certain product categories. Additionally, existing restrictions on mutual trade have been removed, and trade procedures have been streamlined.
For instance, customs duties have been eliminated on various goods imported into Turkmenistan, including cement products (100% duty), textiles (50%), furniture (50%), glassware (50%), water heaters (15%), plastic and polypropylene products (10%), sausages and meat products ($2 per kilogram), and cotton oil ($1 per kilogram).
The implementation of a duty-free trade regime will establish a foundation for enhancing mutual trade turnover between the two countries by promoting investment cooperation and fostering industrial collaboration.
