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Tajikistan and Germany Strengthen Economic Ties with New Memorandum of Understanding

Dushanbe, November 12, 2024 – The Europe Today: The Chamber of Commerce and Industry (CCI) of Tajikistan and Germany’s Association of Small and Medium-Sized Businesses (BVMW) have signed a memorandum of understanding (MoU) aimed at boosting bilateral economic, trade, and investment cooperation between the two countries.

The MoU was signed following an online meeting between leaders from the CCI and BVMW, supported by the Tajik Embassy in Germany. The meeting, which was attended by key officials including Tajik Ambassador to Germany Imomudin Sattorov, CCI Chairman Jamshed Jumakhonzoda, and BVMW Federal Executive Board member Andreas Jahn, focused on exploring ways to enhance economic ties, with an emphasis on trade, investment, and entrepreneurial collaboration.

During the meeting, both parties recognized the significant potential for mutually beneficial cooperation, particularly in product export and import, as well as fostering business development and investments. The discussion also highlighted the importance of active engagement and knowledge-sharing between Tajik and German entrepreneurs to further strengthen their economic relationship.

The MoU sets the stage for future cooperation, including a planned visit by a BVMW delegation to Tajikistan in May 2025. During this visit, BVMW plans to open a representative office in Tajikistan, which will serve as a key milestone in the development of the partnership between the two countries.

Although trade between Tajikistan and Germany has faced a downturn in 2024, with bilateral trade falling by 51.2% to just over $75 million in the first nine months of the year, the vast majority of this trade involved the import of German goods to Tajikistan. This new MoU signals a renewed commitment to strengthen trade relations and foster new opportunities for small and medium-sized enterprises in both nations.

BVMW, a prominent organization representing small and medium-sized businesses in Germany, is committed to advocating for the interests of its members in various political, administrative, and trade discussions, aiming to build a more robust economic partnership between the two countries.