US, Uzbekistan may sign agreements on investment protection, double taxation
Baku, Azerbaijan, February 28
By Fakhri Vakilov - Trend:
Uzbekistan and The US declared the need to intensify negotiations on the conclusion of intergovernmental agreements on the promotion and mutual protection of investments and on the avoidance of double taxation, Trend reports with reference to Uzbek Ministry of Investments and Foreign Trade.
The US delegation led by Deputy Assistant Secretary of State for Economic Affairs David Meale agreed on that during the Uzbek-US annual bilateral consultations.
"The parties noted the need to intensify negotiations on the conclusion of intergovernmental agreements on the promotion and mutual protection of investments and on the avoidance of double taxation, which will make a significant practical contribution to strengthening investment cooperation with the US companies and increase the number of new joint projects,” the Uzbek Ministry noted.
The parties also discussed prospects for cooperation in the areas of trade, investment and financial partnership, environmental protection, science, technology and health.
The exchange of views demonstrated the presence of significant potential for the further development of investment cooperation in high-tech industries. The high capacity of the markets of Uzbekistan, Central Asia and the CIS countries creates all conditions for successful implementation of investment projects and for an increase in commodity turnover between the two countries.
"The issues of establishing and diversifying cooperation between Tashkent and Washington in the financial sector, including in the framework of a partnership with the Private Foreign Investment Corporation (OPIC) and The US Eximbank, were discussed," the ministry said.
In conclusion, the parties exchanged views on high potential for establishing and expanding long-term and mutually beneficial relations, and also expressed confidence that the agreements reached during the negotiations will be fully implemented in the near future, which will significantly strengthen and bring relations to a new level.
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