The Government of Turkmenistan is planning to purchase 160 units of Chevrolet Captiva automobiles, manufactured at GM Uzbekistan CJSC.

President of Turkmenistan Gurbanguly Berdymuhamedov said at the session of the government that he signed a resolution on purchase of 160 units of Chevrolet Captiva automobiles of 2011 production with three-year guarantee service from GM Uzbekistan.

During the government’s session, Gurbanguly Berdymuhamedov underlined that Turkmenistan purchases a party of cars from Uzbekistan, produced at GM Uzbekistan, for further strengthening material-technical supply of Turkmenistan’s establishments and departments.

Turkmen leader said that purchase of large party of cars from neighbouring state is another evidence for successful Turkmen-Uzbek cooperation. He added that Turkmenistan will continue to make its best efforts to development of inter-state relations.

Gurbanguly Berdymuhamedov stressed that trade turnover between two states grew five times in 2010 and added that the sides have great opportunity to expand further this figure.

President of Turkmenistan underlined that this is another step in developing trade-economic relations of two states and shows brotherhood relations and should strengthen friendship and cooperation.

He added that based on long-term good-neighbourhood relations, today, in third millennium, Uzbekistan and Turkmenistan demonstrate good will and their adherence to ideas of constructive development.

Uzavtosanoat and South Korea’s Daewoo Motor created a joint venture - UzDaewoo Auto - on parity conditions with the charter capital of US$200 million. In 1996, the venture launched car production plant with the cost of US$650 million in Asaka city of Andijan region. The capacity of the venture is 200,000 cars per year.

In May 2005, Uzavtosanoat purchased 50% shares of Daewoo Motor in UzDaewoo Auto for about US$110 million. General Motors and Uzavtosanoat completed process of creation of GM Uzbekistan on the base of UzDaewooAuto in the end of March 2008. The charter capital of new venture is US$266.7 million.