Foreign trade turnover between UK and Uzbekistan increasing – ambassador

Foreign trade turnover between UK and Uzbekistan increasing – ambassador

Tashkent, Uzbekistan, Feb. 1

D. Azizov - Trend:

Foreign trade turnover between UK and Uzbekistan shows growth, British ambassador to Uzbekistan George Edgar said at the press-conference on Jan. 31.

The trade turnover for 3 quarters of 2013 reached $82 million, UK's Ministry of Trade and Investments report said.

The statistics for the fourth quarter of 2013 will be published in February 2014.

"The UK has also increased the export of goods and services to Uzbekistan to $61 million - which is a 15-percent increase," said the ambassador. "This is while the import reached $21 million."

"We use all the existing mechanisms in order to improve our trade and economic indicators,"Edgar said.

He reminded that during the 20th anniversary session of the Uzbek-British Council on trade and industry, conducted in November 2013 in London, the Uzbek delegation consisting of 20 companies informed the representatives of about 70 British companies about investment capacities in different spheres, including oil and gas, chemical, processing, pharmaceutical, food and construction.

The Ministry of external economic communications of Uzbekistan said that today there are about 140 enterprises with 100-percent UK capital, that are successfully functioning in various sectors of Uzbekistan's economy. Representations of 88 British companies are accredited in Tashkent.

The head of the British embassy gave several examples of successful activity of British investors in Uzbekistan last year.

In particular, in May of 2013, the "Nationwide Technologies" company launched exploitation of the fertilized-producing factory in Navoi district. The factory started to supply final production for export.

"Rio Tinto" processing company started exploration work in search of copper fields in Namangan district.

"GlaxoSmithKline" pharmaceutical company successfully cooperates with the Ministry of Health of Uzbekistan - in 2013 the program of events on informing medical workers about diverse virus diseases was implemented. The company exports to Uzbekistan a set of modern medical remedy.

In November, British JCB-one - one of the biggest world producers of heavy construction and agricultural technologies was opened in Tashkent.

"The number of British companies in Uzbekistan could have been bigger, the ambassador said.

"The country is an attractive direction for foreign investors, including British companies, having 30-million population, important geographical location in the region, qualified labor force, rich natural resources and other competitive advantages," Edgar said.

The ambassador went on to say that further work for improving the business climate and overcoming barriers which prevent income of foreign capital to the country, for example such as difficulties with conversion, will allow additional foreign investments to those sectors, which are considered primary for industrialization and developments of the country's economy by the Uzbek government.

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