live Rubio tells allies U.S. will hold off new Iran strikes
Secretary of State Marco Rubio told allied foreign ministers Washington will focus on sanctions and other pressure on Iran “for the time bein...
Uzbekistan and Türkiye have agreed to expand the range of products eligible for preferential tariff treatment, signing a protocol that adds eight new tariff lines to their Preferential Trade Agreement (PTA). The move increases the total number of covered product categories from 12 to 20.
The protocol was signed following a meeting of the Uzbekistan–Türkiye Joint Working Group on the PTA, co-chaired by Uzbekistan's Deputy Minister of Investment, Industry and Trade, Akram Aliyev, and Türkiye's Deputy Trade Minister, Mustafa Tuzcu.
Although officials have not yet disclosed the newly added product categories, both governments said the additional tariff lines were selected based on the structure of bilateral imports and exports, with different preferential duty rates applying to different products.
The two sides also agreed to continue negotiations on further expanding the agreement on a reciprocal basis.
When the PTA entered into force in July 2023, it granted tariff preferences for 12 product categories from each country.
Uzbekistan's exports covered by the agreement are largely agricultural products, including vegetables, fresh and dried fruit, raisins, dried apricots, peaches, beans, almonds, walnuts and peanuts.
Türkiye, meanwhile, received preferential access for a range of industrial goods, including electrical transformers, inductors, electrical connectors and conductors, steel pipes, rolled iron and steel products, and centrifugal pumps.
The agreement reflects the complementary nature of bilateral trade, with Uzbekistan exporting agricultural commodities while importing industrial equipment and manufacturing inputs from Türkiye.
The Ministry of Investment, Industry and Trade said the expanded agreement is expected to boost bilateral trade and increase export and import volumes, supporting the goal set by the leaders of both countries to raise annual trade turnover to $5 billion.
Expanding the list of products eligible for preferential tariffs has been identified as one of the main tools for achieving that target.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Secretary of State Marco Rubio told allied foreign ministers Washington will focus on sanctions and other pressure on Iran “for the time being”, Axios reports. Meanwhile, Iran and Oman have resumed talks on a temporary shipping route through the Strait of Hormuz.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Russia and Ukraine have exchanged 10 prisoners of war each in Belarus, Moscow's Human Rights Commissioner, Yana Lantratova, has said.
The inaugural Silk Road Finance & Technology Forum brought together policymakers, investors and technology companies as Central Asia looks to build a more connected financial system and compete for a bigger share of global fintech investment.
The Silk Road Finance & Technology Forum will bring more than 6,000 policymakers, investors and technology leaders from 74 countries to Tashkent, as Central Asia seeks a bigger role in the global fintech landscape.
Kazakhstan is considering the Baku-Supsa pipeline as an alternative oil export route after Caspian Pipeline Consortium disruptions cost the country an estimated 3.5 million tonnes of oil, Energy Minister Yerlan Akkenzhenov said.
Kuwait’s Al-Sayer Group plans to export fresh and dried Afghan fruit to Kuwait and other markets while exploring broader trade and investment opportunities in Afghanistan, according to Afghan government statements following talks in Kabul on Tuesday.
Central Asia’s fintech ambitions are in the spotlight as a major forum in Tashkent draws to a close, shifting attention from the region’s potential to the investment, infrastructure and global reach needed to turn that vision into growth.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment