AKIPRESS.COM - Mongolian TML company has invested in the development of leather and footwear production in Uzbekistan, Trend news agency said.

The news followed a meeting between Chairman of the Uzbek Uzcharmsanoat Leather and Footwear Association Fahriddin Boboev and representatives of TML.

The parties discussed the expansion of bilateral relations and luring investments from enterprises in the leather and shoe industries to Uzbekistan during the meeting.

The Mongolian side emphasized the attractive investment climate developed today in Uzbekistan for foreign enterprises, as well as the government's assistance, which contribute to increase the flow of foreign investment. The company is interested in collaborating on leather and shoe projects as well as selling finished leather products to Mongolia.

The participants decided to start systematic negotiations with local Uzbek firms.

The TML representative office was opened in Uzbekistan in September 2023. The trade turnover between the two countries has reached $7 million. Uzbekistan and Mongolia aim to expand trade in fruits and vegetables, as well as meat, wool and cashmere products.

Currently, Uzbekistan and Mongolia have a 30 day visa-free regime for each other's citizens.