CONTRACT BETWEEN THE REPUBLIC OF UZBEKISTAN AND TURKMENISTAN

of March 6, 2017

About economic cooperation for 2018 - 2020

The Republic of Uzbekistan and Turkmenistan which further are referred to as "Party"

being strategic partners, including in the economic sphere,

being guided by provisions of the Treaty of friendship, cooperation and mutual assistance between the Republic of Uzbekistan and Turkmenistan of January 16, 1996, Contracts between the Republic of Uzbekistan and Turkmenistan on friendship, enforcement of trust and development of cooperation of November 19, 2004, Contracts on further strengthening of friendship and full cooperation between the Republic of Uzbekistan and Turkmenistan of October 18, 2007, Agreements between the Government of the Republic of Uzbekistan and the Government of Turkmenistan on mutual deliveries of October 2, 2012, and also other international treaties which participants are the Parties,

being based on historically developed relation of friendship, mutual respect and trust between the people of two countries,

recognizing importance of further expansion and strengthening of full-scale mutually beneficial cooperation in trade and economic, transport and communication, scientific and technical, cultural and humanitarian spheres and their conclusion to qualitatively new level,

aiming at achievement of strong growth of amounts of mutual trade, forming of favorable conditions for expansion of the directions of economic cooperation, taking into account modern conditions and tendencies in world economy,

adhering to observance of the national legal system existing in the territories of two states and taking into account the conventional principles and rules of international law,

agreed as follows:

Article 1

Economic cooperation of the Parties is based on the principles of sovereign equality of the states, equality, strategic partnership, mutual advantage and is performed taking into account national interests of the Parties by direct interaction between business entities irrespective of patterns of ownership.

Article 2

This Agreement is developed and is accepted for the purpose of:

determinations and promotions of the priority directions of trade and economic cooperation;

deepenings of economic interaction for the benefit of achievement of steadily high growth rates of national economies and increase in their competitiveness;

growth in volumes and enhancement of structure of goods turnover, assistance and stimulation of expansion of mutually advantageous partner bonds between the companies and the companies of the Parties;

further development and strengthening of cooperation in the field of transport and transit of loads on mutually advantageous basis;

activation of interaction in spheres of agricultural industry, tourism, culture, science and education.

Article 3

For goal achievement of this Agreement, the Party will solve the following problems:

provide full-scale implementation of the agreements in the economic sphere reached top-level;

develop and expand bilateral trade and economic relations on mutually advantageous and equal basis;

promote further development of bilateral trade relations, diversification of the nomenclature, providing strong growth of goods turnover and achievement of its balanced nature, including due to the expansion of mutual deliveries of finished goods and goods with high value added which are of mutual interest;

assist attraction and active participation of the companies and companies of both states, including small businesses, in the international exhibition and fair events held in the territories of the Parties;

promote establishment of long-term partner bonds between the companies and the companies of the Parties, and also to creation and activities of joint businesses;

promote adjustment of cooperation between regions of two countries in the trade and economic sphere;

expand and enhance regulatory framework of economic cooperation;

develop long-term cooperation and experience exchange in the field of agricultural industry;

help cooperation in the field of tourism, to cardinal increase in mutual tourist inflow, including from the third countries, establishment of long-term partner bonds between the leading tour operators of two states;

expand mutually beneficial cooperation in the transport and communication sphere, create favorable conditions and provide concurrent preferential conditions on transit of the foreign trade loads for ensuring further growth of cargo transportation, effective use of regional transport corridors and infrastructure.

Article 4

The parties, proceeding from intention of practical realization of provisions of the Agreement between the Government of the Republic of Uzbekistan and the Government of Turkmenistan about production cooperation of January 16, 1996, agreed about further development of industrial cooperation, including by means of:

implementation and development of cooperation between the companies of all patterns of ownership, industry and cross-industry complexes on the basis of their direct production connections;

encouragement of participation of the companies of the Parties in the investment projects and tenders performed in the territories of two states.

Article 5

The parties agreed that development of cooperation in the field of transport and transport communications has strategic nature for both states. In this regard, Parties:

will develop mutually beneficial cooperation in the field of automobile, railway, river and air traffic, to create favorable conditions for activities of national carriers, effective use of the available transit potential and the operating infrastructure;

will continue mutually beneficial cooperation in the field of development and increase in competitiveness of the operating and perspective international and regional transport corridors, including by forming of favorable tariff conditions for cargo transportation;

will continue work on diversification of transport corridors and highways on entry into foreign markets, and also creating favorable conditions for transportation of the foreign trade loads passing on the territories of the Parties;

will promote further practical implementation of the Agreement on creation of the international transport and transit corridor of "Uzbekistan-Turkmenistan-Iran-Oman";

will promote establishing mutually beneficial cooperation between transport departments, transport-forwarding associations and the companies of both states, to their participation in the international transport conferences, forums and other actions in the territories of the Parties.

Article 6

The parties will promote:

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