Uzbekistan and the United Kingdom plan to expand trade and economic cooperation

On November 22 this year Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov met with British Trade Commissioner for Eastern Europe and Central Asia, Consul General of Great Britain in Istanbul K. Poleo in Tashkent.

During the meeting, a wide range of issues in Uzbek-British cooperation were addressed. The sides noted the active dynamics of expanding partnership in political, investment, trade and economic areas.

Evidence of this was, in particular, the grating of a beneficiary status of the Generalized System of Preferences Enhanced Framework (GSP EF) to Uzbekistan by Great Britain. It was noted that this step would significantly contribute to the diversification and development of economic and trade relations between the two countries.

The sides expressed readiness to intensify joint work on rapprochement of business circles of the two countries as an important factor in strengthening economic relations. In this context, the effectiveness of the Uzbek-British Trade and Industry Council was emphasized, and prospects for establishing the Uzbek-British Business Council on its basis as a permanent platform for establishing direct links between businessmen of the two countries were considered.

The meeting also touched upon the financial and technical cooperation. Further steps for cooperation in promoting economic reforms in Uzbekistan within the framework of the program "Effective Governance of Economic Development in Central Asia" (EGED) in partnership with the World Bank were discussed.

Following the meeting, the parties agreed to maintain close contact for a quality and timely resolution of tasks and operational solutions to emerging issues.

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