AMERICAN-UZBEK TRADE FORUM

The Tashkent International Business Center has hosted a regular session of the American-Uzbek Chamber of Commerce.

The event was attended by heads of ministries and other government agencies, companies and corporations of the two countries responsible for such areas as foreign economic relations, banking and finance, oil and gas, machine-building industry, trade, investments, transport and transport communications, logistics, geology and mineral resources, metallurgy, chemical and food industries, tourism, agriculture and water management, production of electrical equipment, education, information technologies.

Minister of Foreign Economic Relations, Investments and Trade of Uzbekistan Elyor Ganiyev emphasized that the relations between Uzbekistan and the United States are consistently developing in all fields, particularly in the trade and economic sphere, and the regular meeting outcomes would afford a new impetus to harnessing the existing opportunities in the bilateral cooperation.

The economy of our country and benefits offered for foreign investors today attract the attention of the most advanced nations. The interaction with the United States has been consistently enhancing.

The volume of mutual trade between the two countries in 2016 amounted to $ 454 million. There are functioning joint ventures in our country created in partnership with American investors. The representative offices of firms and companies of the US, specializing in the fields of automotive, petrochemical, textile and light industry, food industry, construction materials production, trade and services, were opened in Uzbekistan.

The priority was placed on trade and economic and investment cooperation in bilateral relations. The US companies like Coca-Cola International, General Electric, CNH Industrial, Honeywell, US Inc. and others realized large-scale investment projects in Uzbekistan. Provided opportunities, privileges, preferences and a favorable investment environment to interact with foreign investors set up in our country are an important factor in this case.

The American-Uzbek Chamber of Commerce has been instrumental in the enhancement of mutually advantageous trade and economic relations between our two nations. This non-governmental non-profit organization was established in 1993 on a voluntary basis in order to develop trade and investment ties between Uzbekistan and the United States. Its members are active in all areas of business from hedge funds to law firms, agricultural enterprises, hotels and internet service providers.

The American-Uzbek Chamber of Commerce addresses important tasks of attracting firms and companies from the US to the diverse sectors of Uzbekistan’s economy, and they familiarize with the investment environment in our country, the development and realization of promising joint projects, supporting business plans of entrepreneurs.

Chairwoman of the American-Uzbek Chamber of Commerce, Carolyn Lamm, highlighted the macroeconomic stability and security in Uzbekistan, consistently high rates of growth of gross domestic product.

— Effective cooperation with Uzbekistan serves the interests of our two peoples, - Carolyn Lamm said. - The stable situation in the country, strong macroeconomic performance and a highly qualified workforce increase the interest in investing in Uzbekistan. Results of the meeting will serve to further strengthen bilateral and mutually beneficial cooperation.

During the event, the sides exchanged views on the current state and prospects of trade and economic relations between Uzbekistan and the United States, and new directions were identified. In particular, the issues of attracting investments and technology of the US for the investment projects in the fields of oil and gas, chemical, automotive, aerospace, energy and energy efficiency, pharmaceuticals, electronics, food industry, establishment of joint ventures for the production of marketable products in the market.

Representatives of business circles of the US highly assessed the results of our ongoing economic reforms, noted that the achievement of highest rates of economic growth by Uzbekistan, increasing the number of free economic zones created in the republic and their activities increase the interest of foreign investors to cooperate with our country.

This is evidenced, in particular, by the participation of representatives from more than 30 major US companies in the event.

— Our company, specializing in the production of technical equipment and machines for the agriculture, construction and mining, has been operating in Uzbekistan since 2001, - regional director of Caterpillar for Europe and the CIS S.Berkebile. - Branches of our company in Tashkent, Zarafshan and Karshi use the components produced in Uzbekistan. Social and economic conditions in the country contribute to the improvement of the production process, the active advancement of our activities. We are interested in expanding the business in Uzbekistan.

The US delegation also conducted talks on strengthening trade, economic and investment cooperation in the various ministries and departments of Uzbekistan.

Jahon Information Agency