Uzbekistan and Spain are planning to hold the first meeting of the intergovernmental commission for economic and industrial cooperation in autumn, an official of the Committee for investments told The Tashkent Times.
The two countries have huge untapped potential for expanding investment ties, increasing the two-way trade volume and range, which stood at US$ 110 million in January-June 2018, a 60% increase to the last year.
Uzbekistan is interested in more presence of the Spanish businesses in joint projects in the oil & gas, energy and chemical, pharmaceuticals and other sectors.
In June this year, the Spanish Ambassador to Uzbekistan, Ignacio Ibáñez underscored that the countries were working on a memorandum on financial understanding, under which Uzbekistan would be provided 150 million euros in soft loans for joint projects.
In addition, Uzbekistan offered to open a representative office of the Spanish Trade and Investment Agency in Tashkent.
