Uzbekistan and Turkmenistan Implement Free Trade Agreement
Uzbekistan/Turkmenistan: On 25 February, Uzbekistan and Turkmenistan's free trade agreement came into effect following the enactment of the Protocol on Exemptions, signed on 16 July 2024 in Tashkent. A presidential decree on 27 January approved the protocol, enabling the removal of customs duties on most goods, easing trade restrictions, and simplifying procedures.
Turkmenistan eliminated duties on Uzbek imports, including cement (100% duty removed), textiles (50%), furniture (50%), glassware (50%), water heaters (15%), plastic and polypropylene products (10%). The agreement aims to boost trade turnover and industrial cooperation.
In 2024, trade turnover between the two countries reached USD 1.14 billion, a 5.5% increase from the previous year.
Source: Gazeta