Tashkent, Uzbekistan, March 6
By Demir Azizov- Trend:
The United Arab Emirates will allocate $119.5 million to Uzbekistan to implement the financial and technical assistance projects, the Ministry of Foreign Economic Relations, Investments and Trade of Uzbekistan said.
Moreover, the foreign trade companies of the ministry concluded the export contracts with the UAE companies to supply goods worth $ 73.9 million from Uzbekistan.
The agreements on the adoption of a joint investment cooperation program with the UAE companies, implementing of the projects and organizing of the mutual visits of the business delegations were reached during the second session of the intergovernmental commission on the trade-economic cooperation between Uzbekistan and the UAE, held in Abu Dhabi earlier this week, the ministry said.
The agreements on implementing of the projects and organizing of mutual visits of the business delegations were also reached..
The Uzbek delegation at the meeting was headed by Elyor Ganiev, Minister of Foreign Relations, Investments and Trade, while an UAE delegation - Sultan Al Mansouri, minister of economy.
The expansion of the trade-economic relations, including the proposals of increasing the trade turnover volumes, the implementation of investment projects to establish high-tech facilities in Uzbekistan were discussed at the meeting.
The expansion of financial and technical cooperation and transport and tourism cooperation was also discussed.
The Uzbek delegation also held the talks with Sheikha Lubna Al Qasimi, UAE minister of International cooperation and development, Mohammed Al Suwaidi, executive director of the Abu Dhabi Fund for Development, as well as the heads of a number of organizations and companies in Abu Dhabi.
The diplomatic relations between Uzbekistan and the UAE were established in October 1992, the Uzbek foreign ministry said.
As of 2013, the trade turnover volume between the two countries amounted to $188.6 million, including export - $166.4 million, import - $22.2 million. The recent data has not been made public.
Uzbekistan mainly exports cotton fiber, silk, agricultural products and services (passenger and cargo air transportation, tourism) to the UAE. Uzbekistan imports the mechanical and electrical equipment, coffee, tea, furniture, plastic and rubber products, vehicles, food, clothing and sports equipment from the UAE.
Around 68 enterprises, established through the UAE investments, 31 of them - with the absolute UAE capital are currently operating in Uzbekistan.
The first meeting of the Uzbekistan-UAE intergovernmental commission and a business forum with participation of representatives of the UAE business circles was held in Tashkent in May 2008. The meeting was held as part of Sheikha Lubna Al Qasimi's official visit.