Discussion on the international cooperation in the investment, trade and economic areas

On September 4 this year, the Minister of Investment and Foreign Trade S. Umurzakov headed a number of workshops devoted to the international cooperation in the investment, trade and economy.

First, they discussed preparation to the next meetings of the Uzbek-Bulgarian, Uzbek-Czech and Uzbek-Polish intergovernmental commissions on trade and economic cooperation, which were scheduled for September 2019. The discussion also involved the heads of ministries and departments included in these commissions, as well as representatives of diplomatic missions of Uzbekistan abroad. During the meeting, they discussed current situation with investment projects and trade agreements being worked out for signing. Moreover, constructive debates and exchange of views developed new proposals to expand investment partnerships and increase export supplies based on specifics of the economies of countries above and included targeted instructions to the heads of relevant departments.

Further, they considered implementation of the agreements as a result of summit events with the Russian Federation and the Republic of India, as well as the dynamics of economic relations with the Republic of Azerbaijan. As used here, they noted the need to strengthen work with foreign counterparties by establishing close and continuous communication between ministries, departments and companies of both countries, which in turn will intensify the elaboration of existing agreements and the search for additional cooperation opportunities. In this regard, they discussed preparation to the first meeting of the Uzbek-Indian Committee for joint projects and determined priority areas for promising investment initiatives. In addition, the heads of the involved departments and ministries outlined the main guidelines and tasks under preparation for top-level visit to the Russian Federation aiming to develop new high profitability and significant project proposals for integrated development of national economy.             

They pain a particular attention to organization and holding of international exhibitions in Uzbekistan and the participation of domestic manufacturers in similar events abroad, which is one of the most important components of promoting domestic products in promising export markets.

In particular, great potential in attracting prospective customers and purchasers belongs to the annual Made in Uzbekistan International Exhibition of National Products. In this regard, organizational and holding issues from the list of participants to the exhibition stands were studied in detail. It was noted that, effectiveness of the exhibitions held requires special attention to advertising and PR. This would attract more potential purchasers and ultimately increase the likelihood of economic return high rates through specific export agreements and contracts.

In this regard, equally important is the Shanghai-Expo International Import Exhibition. Participation in this exhibition opens up great opportunities for Uzbek exporters to enter the multi-million dollar Chinese market. It was reported that this year Uzbekistan would receive the status of “main guest” at this exhibition venue. In that event, branch ministries and departments were instructed to ensure the participation of every sector leading manufacturers in this event and to take measures for a high-quality exposure of national products.

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