A memorandum between OJSC "Turkmenistan-Motors" and OJSC "Uzavtosanoat" on the intentions to organize the production of automobile, agricultural and trailer equipment in the territory of Turkmenistan was signed on October 4 within the framework of the Turkmen-Uzbek forum in Tashkent. UzDaily reports.

The Memorandum signing ceremony was attended by Furkat Aydashev, Chairman of the Board of Turkmenistan-Motors JSC, and Shavkat Umurzakov, Chairman of the Board of Uzavtosanoat JSC.

Within the framework of this Memorandum, it is planned to further conclude an Agreement on the production of cars by UzAuto Motors JSC at the production facilities of Turkmenistan-Motors JSC. Cooperation in this direction also implies the organization of the production of auto components in Turkmenistan and sales to export markets.

In addition, an agreement was reached on setting up the production of other vehicles (pickups, trucks and buses), agricultural and trailed equipment produced by enterprises that are part of the Uzavtosanoat JSC system. The joint venture "Uzavtosanoat" and "Turkmenistan-Motors" in the first year plans to produce up to 10 thousand units of agricultural machinery and trailers, and within 4-5 years it is planned to reach the level of up to 50 thousand units per year.

The implementation of this direction will allow Turkmenistan to create new jobs, increase the share of industry in the structure of GDP, enter export markets, and provide the population with international quality cars.

The automotive industry occupies one of the leading places in the economy of Uzbekistan. More than 280 thousand cars are produced annually (data for 2020). Chevrolet Cobalt cars were produced most of all in 2020, followed by Nexia T-250, Daewoo Damas and Chevrolet Lacetti Gentra.

Uzavtosanoat is one of the largest automotive industrial holdings in Uzbekistan. In addition, its structure includes a dealer network in Uzbekistan and the CIS countries, educational institutions, a leasing company and enterprises for the production of consumer goods.