Uzbekistan, Slovenia to establish intergovernmental commission

Business Materials 7 December 2011 17:18 (UTC +04:00)

Uzbekistan, Tashkent, Dec. 7 / Trend D. Azizov /

The representatives of business circles of Uzbekistan and Slovenia have agreed to establish a bilateral intergovernmental commission on trade and economic cooperation at the Uzbek-Slovenian business forum held on Wednesday.

The parties said that the establishment of the Uzbek-Slovenian intergovernmental commission will boost trade, investment and technological cooperation between the two countries.

The participants of the business forum were informed about the Uzbek investment potential and the possibilities of investment cooperation. The most promising areas of bilateral cooperation in the economic field are the development of industrial cooperation and involvement of Slovenian companies in creating joint ventures in the electrical and pharmaceutical spheres.

At present, the legal basis of trade and economic cooperation between Uzbekistan and Slovenia is regulated by the Agreement on Partnership and Cooperation between Uzbekistan and the EU member-countries. The Uzbek and Slovenian governments signed an agreement on "Mutual protection of investments" in October 2003.

The Uzbek-Slovenian trade turnover amounted to $29.6 million as of 2010 and $33.6 million in January-September this year.

Eight companies created with Slovenian investments operate in Uzbekistan. Two companies operate with full Slovenian capital.