According to agreements reached thus far, a joint venture will be carried out between Uzbekistans oil and Gas Company and Irans National Petrochemical Company. After finalization of talks, the plant will be producing 300,000 tons polyethylene per year. An informed source at Iran Development and Trade Organization noted that early agreements have been reached with Uzbekistan Chemical Company for building a urea plant with daily capacity of 1,075 tons. The contract for building the plant will be signed during Iranian commerce ministers visit to that country. In addition contracts for selling liquid gas, various types of fertilizer and polyethylene form Iran to Uzbekistan, which were in force since 2002, will be extended. The 7th meeting of Iran – Uzbekistan joint economic cooperation commission will be held on January 9-11. Irans commerce minister is now in Tashkent heading a high-ranking delegation to take part in the meeting.