Uzbekistan and Turkmenistan Launch Free Trade Regime

Uzbekistan and Turkmenistan have established a free trade regime between the two nations, according to a statement from the press service of the Uzbek Ministry of Investment, Industry, and Trade.

The regime will take effect from February 25, 2025, The Caspian Post reports citing Interfax.

"As a result of the introduction of the regime, customs duties on goods produced in the territories of the two countries have been abolished except for certain types of products, existing restrictions on mutual trade in goods have been eliminated and trade procedures have been simplified," the press service said.

In particular, customs duties on cement products, textiles, furniture, glassware, water heaters, plastic and polypropylene products, sausages and meat products, and cotton seed oil imported into Turkmenistan have been abolished.

Trade turnover between the two countries amounted to $1.14 billion in 2024, up 5.5% compared to the previous year, the ministry said.