Tajikistan, Turkey discuss expanding collaboration on Sughd Free Economic Zone

DUSHANBE. May 7 (Interfax) - Head of Tajikistan's Sughd Free Economic Zone (FEZ) Muhammadzoda Muhammad Sulton has taken part in a meeting with representatives of business circles in Turkey, organized with the assistance of the Tajik Embassy in Turkey and the Trade Council of both countries, the FEZ management reported.

"During the online meeting, investment and production opportunities of Sughd FEZ were presented, as well as the existing tax and customs benefits and promising areas for the implementation of joint projects," the statement reads.

The management said that Muhammadzoda had referred in his presentation to the significant contribution made by Turkish investors to the development of the industrial and export potential of Sudhg FEZ, particularly the work of Tajik-Turkish joint enterprises in the field of construction material production, agricultural product processing, textiles, engineering and logistics.

"The joint Tajik-Turkish participants of Sughd FEZ are steadily increasing production, helping to create new jobs, integrate modern technologies and expand exports," Muhammadzoda said.

The management said that Turkish entrepreneurs were some of the most active foreign investors within the zone. Their participation facilitates the modernization of production infrastructure, the development of cooperation relationships, the use of new technologies and an increase in industrial production.

The Sughd Free Economic Zone is located in the Sughd region in the north of Tajikistan. It is one of the country's biggest free economic zones. There is a special legal regime on the territory which gives investors access to tax and customs concessions, simplified administrative procedures and favorable conditions for export-oriented production. Residents of the zone implement projects related to industry, raw materials processing, construction material production and food and textiles production.

During their meeting, the parties also discussed expanding their investment partnership, implementing new joint projects and reinforcing trade and economic ties between Tajikistan and Turkey.