EU AMBASSADOR: INVESTMENTS GO WHERE YOU CAN MAKE PROFIT
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"We are seriously considering cooperation with Uzbekistan on the reconstruction of Afghanistan," said Eduards Stiprais, Head of the European Union Delegation to Uzbekistan.
Speaking at a press conference that meant to sum up his six-month work in Uzbekistan, the ambassador focused on political and economic cooperation.
Expounding on regional security issues, E.Stiprais recalled the participation of the delegation of Uzbekistan in the Brussels conference on Afghanistan. During that forum, the international community pledged to continue assisting in the reconstruction of that country, undertaking to allocate € 13.6 billion in 2017-2020. The condition was the implementation of specific reforms.
The Head of the EU Delegation said “the European Union is the largest donor of Afghanistan - the total aid reaches 5 billion euros. We also welcome Uzbekistan’s efforts aimed at the economic reconstruction of the country. In particular, we note with great satisfaction the dynamic development of trade and economic ties between the two nations over the past six months.” In this regard, the diplomat cited the words of the EU Special Representative Peter Burian, who has repeatedly stated the important role of Uzbekistan in ensuring stability in the region and its economic prosperity.
Concerning trade between Uzbekistan and the European Union, the ambassador with regret cited a slight decrease in the volume of trade, which amounted to € 1.8 billion in 2016. But despite this, the European Union ranks fourth among the country’s largest trading partners after China, Russia and Kazakhstan. Currently, the parties recognize the need to boost trade and are intent on bolstering efforts toward the goal.
Asked exactly what measures are being taken, E.Stiprais replied: "They include the establishment of the Trade and Investment Council, planned for this year. In addition to officials, entrepreneurs of Uzbekistan and representatives of European firms and companies will take part in its activities.” Then the ambassador added that “investments do not go where there is no opportunity to earn money, pay dividends and extract profits. It’s no secret that the existing foreign exchange policy in Uzbekistan largely hinders the attraction of direct investment. I am glad that this is one of the issues that the government of Uzbekistan is addressing at present. The introduction of market-based methods of currency regulation is described in the Strategy of development. I believe that will be a very strong signal for foreign investors that Uzbekistan is opening its market.”
