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In the context of globalization, interstate interaction of economic entities of the national economies of Central Asian countries go beyond the framework of foreign trade transactions, developing into new forms of economic cooperation. One of such forms is industrial cooperation, which over the past 20 years has become one of the essential factors in achieving high rates of economic growth both in developed industrial countries (Japan, USA, EU) and in developing countries (India, China, Vietnam, Turkey, etc.), UZ DAILY reported.

Industrial cooperation can be defined as long-term cooperation based on the distribution of functions between enterprises in the production of certain products. Enterprises can join forces to efficiently use capacity and compensate for missing resources, especially when the complexity of products or production conditions.

At the same time, the special advantages of industrial cooperation are cost reduction due to a focus on key processes, capacity utilization and optimization of the production process, an incentive to introduce innovations and develop new competencies, increase product quality and flexibility in relation to demand and its stability for manufactured products and services, development of employees, new values, corporate culture.

Also, Uzbekistan attaches great importance to the development of industry and cooperation in this area, in particular, over the past 4 years, comprehensive measures have been taken and implemented to strengthen the country’s industrial potential, as a result of which the volume of industrial production increased by 23%.

A powerful impetus to the further development of industrial cooperation and the expansion of production of popular products was given by the adopted in May 2019. the decree of the President of the Republic of Uzbekistan, by which the strengthening of cooperative ties in the industry, the creation of favourable conditions for the interaction of business entities with the aim of producing products in demand in the domestic and foreign markets are determined by the most important conditions for the accelerated modernization of the country’s economy.

To achieve this goal, the development of industrial cooperation on a regional scale is also a priority of the country’s foreign economic activity. This is evidenced by the initiatives of the President of the Republic of Uzbekistan Shavkat Mirziyoyev, put forward at consultative meetings, an international conference in Samarkand, the CIS forum, at the ECO summit, etc., where he notes the importance of further deepening regional trade and economic ties, which will make it possible to form the largest and capacious regional market with really huge potential.

The correctness of the chosen course is also confirmed by the calculations of UN experts, according to which effective cooperation of the Central Asian countries could increase regional GDP at least twice in 10 years. Also, interstate cooperation in the field of industrial cooperation, according to the UN Economic Commission for Europe, reduces the preparation time for the production of new products by an average of 14-20 months compared to organizing it exclusively on its own and also reduces the cost of mastering new production by 50-70%.

In this vein, historically established economic ties, geographical proximity, the presence of complementary resources, as well as the preservation of common scientific and technical schools and standards between the countries of Central Asia, presuppose the further maintenance of industrial ties, increased cooperation with neighbouring countries and the search for new forms of joint use of available resources.