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UZBEKISTAN – KAZAKHSTAN BUSINESS FORUM

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UZBEKISTAN – KAZAKHSTAN BUSINESS FORUM

On October 19, Uzbekistan – Kazakhstan business forum was held in Tashkent.

It was attended by the heads of ministries, departments and companies of the two countries operating in such spheres as trade, investment, construction, automotive, light and food industry, agriculture and water resources, energy, transport and logistics, information technologies.

Chairman of the Chamber of Commerce and Industry of Uzbekistan A.Ikramov, Ambassador Extraordinary and Plenipotentiary of Kazakhstan to our country E.Utembayev, Chairman of the Board of “Kazakh Invest” company A.Arinov and others noted that relations between our countries are consistently developing in all directions. An important legal basis for this became the Treaty on eternal friendship, the Treaty on strategic partnership and a number of other documents signed between our countries.

Uzbekistan and Kazakhstan are implementing promising projects on mutually beneficial cooperation in investment, trade, economic and social spheres. The trade turnover is growing steadily. There are more than 200 companies with participation of Kazakhstan capital, in our country. In 2016, the trade turnover exceeded 2 billion dollars. In January-August this year, this indicator grew by 35 percent. An important guide to action in this direction became the Strategy of economic cooperation between the Republic of Uzbekistan and the Republic of Kazakhstan for 2017-2019, adopted in March of this year.

Business forums between the two countries contribute to an even more effective use of the potential of trade and economic cooperation. Agreements worth a total of 1,2 billion dollars were signed at such forums held in Astana in March of this year and in Tashkent in September.

During the current event, businessmen of Kazakhstan were provided with information on the ongoing structural reforms in accordance with the Strategy of actions on five priority areas of development of the Republic of Uzbekistan in 2017-2021, developed at the initiative of the President of our country Shavkat Mirziyoyev. It was noted that laws and other legislative documents aimed at creating a favorable investment climate, granting tax and customs preferences for entrepreneurs and investors are being adopted in our country.

Within the framework of the business forum, a memorandum of cooperation between Chirchik Transformer Plant and “Alageum Electric” JSC of Kazakhstan and other agreements were signed.

B2B meetings were held within the framework of the forum. Participants discussed prospects of establishing mutually beneficial cooperation in various spheres.

Issues of implementation of new investment projects, organization of joint ventures were also considered.

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