Uzbekistan concludes $2.8B worth agreements, contracts in Germany
Tashkent, Uzbekistan, Mar. 2
By Demir Azizov - Trend:
A delegation of Uzbekistan, during its visit to Germany, concluded a package worth $2.8 billion in investment and loan agreements, and trade contracts.
The package of agreements and contracts covers the chemical, machine building, electro-technical, textile and food industries, and the production of construction materials, according to a message from Uzbekistan's Foreign Economic Relations, Investments and Trade Ministry.
The ministry said Uzbekistan's delegation, led by the first deputy prime minister and finance minister, Rustam Azimov, took part in the first meeting of the Germany-Uzbekistan business council, held last week in Berlin.
The council founded by over 50 leading companies and banks of Germany held its first meeting that was attended by over 250 representatives of leading German industrial companies and banks.
Uzbekistan's program for structural reforms, modernization and diversification of industry in the country in the coming years, and the infrastructure development program presented at the meeting caused great interest among German companies.
The representatives of the German government and business circles highlighted the dynamic development in Uzbekistan's economy, the deep structural reforms, the creation of new high-tech industry sectors, and the creates a favorable investment climate and opportunities for successful investment activity.
"The government and leading companies of Germany are going to actively support the work of the German-Uzbek Business Council and expand their own participation in Uzbekistan," the Ministry of Foreign Economic Relations, Investments and Trade said.
The Uzbek delegation also studied the experience of the largest concerns and companies of Germany in the corporate management sphere.
Moreover, a cooperation agreement was signed with the European Institute of Management and Technology during the visit. This agreement envisages organization of short-term courses in Tashkent in the sphere of corporate management for the heads and specialists of the country's enterprises, as well as their subsequent training in Germany's largest joint-stock companies.
Vice-Chancellor and Minister of Economy and Energy of Germany Sigmar Gabriel received the Uzbek delegation. During the negotiations, the sides discussed the status and prospects for expanding the cooperation in trade, economic, investment and finance spheres.
Germany is one of the main trade and economic partners of Uzbekistan. It is among the top the three trade partners of the country in Europe. Investment projects totaling over 1 billion euro have been implemented in Uzbekistan jointly with the leading German companies.
The trade turnover between Uzbekistan and Germany increased by 10 percent in 2014, compared to 2013 and stood at 461.2 million euros, according to German embassy.
Around 123 enterprises, created with the participation of leading companies, capital and advanced technologies from Germany, operate in Uzbekistan.
Edited by CN