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Uzbek Minister of Investment and Foreign Trade meets with US Trade Secretary

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Uzbek Minister of Investment and Foreign Trade meets with US Trade Secretary

In Washington, a meeting was held between Minister of Investment and Foreign Trade of Uzbekistan S.Umrzakov and US Trade Secretary U.Ross.

During the meeting, the sides exchanged views on the current state of bilateral trade between Uzbekistan and the United States and promising mechanisms to increase the volume of trade.

In this regard, the need for constant inter-ministerial contacts at the interdepartmental level has been recognized to eliminate barriers to investment and trade and economic cooperation and to promptly address existing issues.

During the conversation, the Uzbek side proposed to accelerate the mutual trade by increasing the volume of Uzbekistan’s exports to the United States in 60 commodity nomenclatures totaling $ 1.5 billion.

This proposal was positively evaluated and accepted for review. The list of export-oriented products for future trade agreements and contracts has been submitted to the US Department of Commerce.

American counterparts expressed their willingness to thoroughly study the needs of the American market for proposed goods and to assist Uzbek producers in entering the American market.

During the meeting, it was proposed to increase the level of trade and economic cooperation between the US and Central Asian countries through the establishment of a Ministerial Interaction Platform in the C5 + 1 format with the participation of Ministers in charge of Foreign Economic and Foreign Trade.

The sides discussed issues related to the US support for Uzbekistan’s accession to the World Trade Organization.

Following the meeting, an interdepartmental working group will be established, comprised of senior experts from the US Department of Commerce and the Ministry of Investments and Foreign Trade of Uzbekistan, to ensure interoperability and rapid workaround. The decision was made.

UzA