UAE and Uzbekistan have signed a deal to jointly invest $119.5 million in projects with leading UAE companies, organisation of mutual visits of business circles and implementation of financial and technical assistance, according to a report.

The deals were agreed upon during the second session of the Uzbek-UAE Intergovernmental Economic Cooperation Commission held recently, said the Times of Central Asia report.

The commission discussed ways of expanding trade and economic relations, increasing bilateral trade, implementation of investment projects to create high-tech production facilities in Uzbekistan, expansion of financial and technical cooperation, and cooperation in the tourism and transport sectors, it said.

The foreign trade companies of the Uzbek Ministry of Foreign Economic Relations, Investment and Trade signed export contracts with UAE firms for the supply of goods worth more than $73 million.
 
Uzbekistan exports to the UAE include raw cotton, silk, and agricultural products, and imports mechanical and electrical equipment, coffee, tea, furniture, plastic and rubber products, motor vehicles, clothing, and sports equipment, it added.