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10/06/11 - Uzbek-German cooperation developing

posted 15 Jan 2012, 04:53 by Ambasciata Uzbekistan

The intergovernmental negotiations on financial and technical cooperation between Uzbekistan and the Federal Republic of Germany were held in Tashkent on 9 June.

The event was attended by the heads of ministries and departments related to foreign economic relations, trade, investment, economy, banking and finance, healthcare, tourism, education, agriculture and water management, high technologies and construction sectors, as well as companies of Uzbekistan and Germany.

Germany is an important trade partner of Uzbekistan in Europe. It is an active investor in the Uzbek economy. With participation of investors from Germany, investment projects worth over EUR 1 billion in were realized. Relations between the two countries are based on more than 100 documents of interstate, intergovernmental and interdepartmental levels. Among them are the agreements on cooperation in investment, financial and technical spheres, privatization and state property management, as well as personnel training.

In accordance with the Partnership and Cooperation Agreement signed between Uzbekistan and the European Union preferential treatment has been established in trade relations between the two countries. The volume of trade between Uzbekistan and Germany has been steadily growing. In 2010, this figure exceeded USD 483 million. There are 114 joint ventures created with participation of German investors, and 49 representative offices of German companies in Uzbekistan. They operate in such areas as light industry, medicine and pharmaceuticals, research, trade, agricultural processing, transportation of passengers and goods, automotive services, etc.

In various sectors of economy of Uzbekistan, large investment projects with participation of German banks are implemented. The universities and research institutes of the two countries have established a mutually beneficial partnership. Joint research is conducted in industry, agriculture, natural resource management and other areas.

At the talks in Tashkent, the guests from Germany got acquainted with the privatization process in Uzbekistan, reforms in the economy, favorable conditions and opportunities created in the free industrial zone Navoi.

The negotiations also touched upon issues of development and implementation of new joint projects, as well as investment, financial and technical cooperation, and promotion of direct contacts among businesses.