BAKU, Azerbaijan, May 20
By Klavdiya Romakayeva - Trend:
The largest share of Slovak exports to Uzbekistan accounted for vehicles and automotive parts, as well as machinery, mechanical appliances, electrical machines and equipment and their components, the Ministry of Economy of Slovakia told Trend.
According to the ministry, Uzbekistan is the second-largest trading partner of Slovakia in the region of Central Asia.
It is reported that besides the agreement on the avoidance of double taxation and agreement on the promotion and reciprocal protection of investments, economic cooperation between Slovakia and Uzbekistan are governed by Agreement on cooperation between the Ministry of Economy of Slovakia and the Ministry of Investments and Foreign Trade of Uzbekistan.
At the same time, the turnover of mutual trade in 2020 reached 12.6 million euros. In particular, Slovak exports to Uzbekistan amounted to 11.7 million euros, while imports amounted to 922,000 euros.
It was noted that the largest share of Slovak exports to Uzbekistan accounted for vehicles and automotive parts and accessories, articles of iron or steel, boilers, machinery, mechanical appliances, electrical machines and equipment and their components.
“Protective measures in the area of car imports are reflected in low trade exchange between our countries,” the ministry noted.
Also, the ministry reported that there is a great scope for establishing economic cooperation between Slovakia and Uzbekistan, which so far has not met the existing potential in various areas.
“In order to get better results on the Uzbek market a more active presence of the Slovak business sector at the events in Uzbekistan is also needed; e.g., participation of Slovak companies and exporters in fairs and specialized exhibitions as well,” the source said.
Commenting on major projects currently being implemented jointly with Uzbekistan, the ministry informed that in March 2021, the newly built plant of the Slovak-Russian-Uzbek company Chirana Asia for the production of artificial lung ventilation devices was ceremoniously opened.
“The success story of Chirana Asia serves as a model for further potential cooperation between Slovak and Uzbek companies,” the message said.
In addition, the Slovak Asseco Central Europe has been operating its business unit Asseco Central Asia in Tashkent. Also, Slovak Rokosan, specializing in the production of organic and organo-mineral fertilizers, has been trying to promote itself in Uzbek agriculture for a long time.
“It may be interesting to set up joint ventures to produce assembly parts for local carmakers (e.g. Volkswagen Uzbekistan),” the ministry added.
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