A convention for the avoidance of double taxation and fiscal evasion with respect to income taxes was signed between Uzbekistan and Bahrain on June 6. The agreement, which will remove double taxation on trade and investment between the two countries, was signed by Shaikh Ahmed Bin Mohammed Al Khalifa, Bahrain’s Minister of Finance, and Rustam Azimov, Uzbekistan’s First Deputy Prime Minister.
When the agreement enters into force it will lay a beneficial framework to bolster financial and economic cooperation between the two countries, and will facilitate increased trade flows.
During the course of the Bahraini delegation’s visit to Tashkent, which began on June 4, several meetings were held with Uzbekistani government ministries to enhance cooperation. During the course of an official visit to Uzbekistan’s Chamber of Commerce and Industry, the delegation inked an additional agreement on understanding to boost cooperation particularly with regard to energy, horticultural products, joint ventures and tourism.
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