Addressing the joint economic meeting of the Iranian and Uzbek businesses and members of the Arak Chamber of Commerce, Industries, Mines, and Agriculture in Markazi Province on Sunday, Nasriyev lauded the significant increase in economic cooperation between the two countries.

There are four weekly direct flights between Tehran and Tashkent, which play an important role in developing cooperation, he added.

Referring to Uzbekistan’s Prime Minister’s recent visit to Iran, accompanied by a 150-member delegation of Uzbek companies, he said an agreement was signed according to which 10 Iranian goods and 10 Uzbek goods can be exchanged without paying taxes and customs duties.

He also pointed to transportation and financing as two main challenges of trade between the two countries.

Expressing Uzbekistan’s interest in expanding provincial cooperation with Iran, he said the two countries are negotiating on sister-city relations between Arak and one of the cities of Uzbekistan.

Elsewhere in his remarks, Nasriyev expressed Uzbekistan’s readiness for full cooperation with Iran’s private sector.

This year, more than $35 billion in foreign investment has been attracted in the agricultural sector of Uzbekistan, he said inviting Iranian economic activists to invest in Uzbekistan’s market.

Currently, more than 250 Iranian companies have started their activities in Uzbekistan which showsteh great capacity for cooperation between the two countries, the Uzbek diplomat said.

All provinces of Uzbekistan have special economic zones, and Iranian economic activists can open their factories and production units in these zones and benefit from extensive advantages such as tax exemptions, he noted.