Tashkent, Uzbekistan, Dec.19
By Demir Azizov - Trend:
State Joint-Stock Foreign Trade Company (SJSFTC) of Uzbekistan, Uzmarkazimpeks, which is mainly involved in exports of cotton fibre, cotton fiber processing products, finished textile products, wheat and flour, opens its trade house in Kazakhstan, a company representative told Trend on Dec.18.
The Uzmarkazimpeks KZ trade house is registered in Saryagash (South-Kazakhstan region) as a limited liability partnership (LLP) and is wholly-owned by Uzmarkazimpeks.
The State Joint-Stock Foreign Trade Company Uzmarkazimpeks was founded in 1998. Fifty one per cent of the authorised capital is owned by the government through the Ministry of External Relations, Investments and Trade, while 30 per cent to legal and 19 per cent goes to individuals.
The company is one of the major exporters of Uzbek cotton fibre with a turnover of about 300,000 tons of cotton annually. The company has established stable relations with all producers of cotton in the country and is a member of the Liverpool Cotton Association. The company has a network of specialised cotton terminals in the regions of which the total one-time storage is about 100,000 tons of cotton fibre.
According to Uzbekistan's official statistics, as of 2012 trade turnover between Kazakhstan and Uzbekistan increased by 9.6 percent to about $ 2.8 billion, and has a tendency to continue the dynamic and sustainable growth.
As reported earlier, the concrete agreement on commodity diversification, expansion of economic and cooperative relations, optimization of functioning the conjugated systems of transport communications and using the huge transit potential of the two countries were reached at the meeting of the intergovernmental commission held in Kazakhstan in summer, 2013.
During his official visit to Uzbekistan in June,2013, Kazakh President Nursultan Nazarbayev stressed that Kazakhstan and Uzbekistan can trade in larger volumes and with greater benefit to both countries.
Official exchange rate on Dec.19 is 2199.93 soum / $1.
Translated by M.L.
Edited by S.M.