German business circles to expand machine building with Uzbekistan

Business Materials 16 March 2013 09:51 (UTC +04:00)

Uzbekistan, Tashkent, March 14 / Trend D. Azizov /

A delegation of German business circles representing enterprises operating in the area of machine building and tool construction is examining the possibility of expanding trading links with Uzbekistan during a visit to the country.

The visit was organised by the German Federal Ministry of Economy and Technology and the Agency for Information and Foreign Investment Promotion Uzinfoinvest under the Uzbek Ministry of Foreign Economic Relations, Investments and Trade on March 11-16.
The German business representatives plan to examine the investment potential of the country and to establish strong relations with Uzbek partners. The substantial potential for joint cooperation was also stressed during a business forum held within the visit.

According to the chargé d'affaires of the Federative Republic of Germany to the Republic of Uzbekistan Torsten Geller, the fact that most members of the German delegation represent the engineering sector indicates that Uzbekistan is an interesting country to make invest German investments, including this area. Moreover, Uzbekistan has very good opportunities for cooperation in the field of electrical engineering.

German businesses pay special interest to the conditions created for foreign investors in the free industrial economic zone of Navoi and the special industrial zone of Angren. The infrastructure has been prepared for a wide range of industries.

During the visit, the delegation representatives will visit the automobile plant of GM Uzbekistan in the city of Asaka and a plant producing MAN trucks in Samarkand.

There are about 4500 foreign enterprises on the Uzbek market, including 116 established with the participation of German investors. The representative offices of about 50 German firms and companies have been accredited.

The total amount of German investments in the Uzbek economy exceeds one billion euros. As of 2012, bilateral trade amounted to more than $400 million.