Vietnam and Uzbekistan have agreed to set up a Joint Trade Working Group aimed at strengthening bilateral trade, enhancing cooperation, and improving business connectivity.
On Wednesday, Vietnam’s Deputy Minister of Industry and Trade, Phan Thi Thang, and Uzbekistan’s Deputy Minister of Investment, Industry and Trade, Ilzat Kasimov, jointly chaired the 8th session of the Vietnam‑Uzbekistan Intergovernmental Committee on Economic, Trade, Scientific, and Technical Cooperation.
At the meeting, Kasimov emphasized that Uzbekistan regards Vietnam as a key priority partner in the region.
He highlighted the importance of enhancing coordination between the ministries and sectors of both nations through the Intergovernmental Committee, enabling businesses to better leverage each side’s strengths and opportunities.
Kasimov also reaffirmed Tashkent’s willingness to provide favorable conditions for Vietnamese businesses investing in Uzbekistan and proposed setting up the joint trade working group under the intergovernmental committee.
The two sides reviewed the current state of cooperation and identified priority areas for further development, including agriculture and agro-processing, light industry, automotive manufacturing, logistics and transport, construction, tourism, and culture.
They emphasized that the economies of both countries are complementary, creating opportunities to build supply chains that span production, processing, and exports to international markets.
According to Vietnam’s Department of Customs, bilateral trade between the two countries hit a record $202 million in 2024, marking a 26.5% increase year on year. Vietnam’s exports rose sharply to $128.61 million, up 75%, while imports fell 14.9% to $73.38 million.
Uzbekistan ranks as Vietnam’s second‑largest trading partner in Central Asia, while Vietnam holds the position of Uzbekistan’s top trading partner within ASEAN. Vietnam’s key exports to Uzbekistan include mobile phones and parts, computers, electronic devices and components, machinery and equipment, rubber products, cashew nuts, and auto parts.
Meanwhile, Vietnam primarily imports fertilizers, textile and garment inputs, leather and footwear materials, and cotton from Uzbekistan. On the investment front, Vietnam currently operates five projects in Uzbekistan with a total registered capital of approximately $4.43 million.
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