Uzbekistan's banks will finance the supply of domestically-made products to the Kyrgyz market, Uzbek media reported.
The sides reached a relevant agreement within the visit of the working group led by Uzbek Foreign Trade Minister Jamshid Khodjaev to Kyrgyzstan.
Within the visit, Uzbek Uznatsbank, Asaka Bank and Promstroibank signed cooperation agreements with RSC Bank and Aiyl Bank of Kyrgyzstan, providing for a mechanism of financing trade operations for export of Uzbek goods and services.
During the discussions on realization of the contract for supply of Uzbek fresh and processed fruit and vegetable products worth $50 million to the Kyrgyz Republic in 2018-2019, the sides agreed to ensure the supply of products in accordance with the approved schedule.
In January 2018, the Uzbek side shipped products worth $1 million.
The sides also agreed on supply of coal for Uzbekistan's enterprises at prices acceptable to the Uzbek side. In turn, the Kyrgyz side voiced interest in the supply of mineral fertilizers and soda ash as well as elite cotton seed from Uzbekistan.
The parties also discussed the measures for early launch of joint projects, in particular, the creation in Kyrgyzstan of plants for assembly of Uzbek agricultural machinery, Uzavtosanoat cars, Samavto buses, Artel washing machines, PVC windows and doors under the IMZO brand, as well as the establishment of a branch of the Artel Technical School in Bishkek and the Mediapark shopping and entertainment center in Osh.
The parties agreed to establish a zone of Kyrgyz products in the Korzinka.uz trade networks in Uzbekistan and a similar zone of Uzbek food products and consumer goods in Kyrgyzstan's network of supermarkets.
In addition, the Uztrade JSC trading house was registered in Bishkek, where Uzbek products will be presented.
Presently, 53 enterprises with participation of Kyrgyz capital operate in Uzbekistan.
In 2017, trade turnover between the two countries increased by more than $86 million and amounted to $253.9 million. The parties intend to increase the turnover to $500 million a year.
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