Germany provides additional financial support to Uzbekistan
BAKU, Azerbaijan, Aug. 7
By Ilkin Seyfaddini - Trend:
The German government has allocated additional two million euros to Uzbekistan to fight the coronavirus pandemic, Trend reports citing the press service of the German embassy in Tashkent.
"Earlier it was reported about the reduction of aid programs as part of the reform of German Federal Ministry of Economic Development, which will reduce the number of partner countries from 85 to 60," the message said.
For Uzbekistan, Germany is an important partner in the European Union: more than four dozen German companies have their offices in the country, and Germany has invested in more than a hundred companies in Uzbekistan.
According to the embassy, the trade turnover between the two countries exceeded $520 million in 2016.
Currently, more than 130 businesses with a participation of German investors operate in Uzbekistan, including around 30 entities with fully German investment funds.
For the first half of 2020, Germany accounted for 20.4 percent of Uzbek trade turnover ($346.8 million).
Moreover, according to the results of the first half of 2020, Germany is among the leaders on attraction of investments in economy of Uzbekistan.
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