Uzbek and Estonian business circles plan to expand cooperation

Uzbek and Estonian business circles plan to expand cooperation

Tashkent, Uzbekistan, March 30

By Demir Azizov - Trend:

The agreement on cooperation between the Chambers of Commerce was signed following the Uzbek- Estonian business forum held in Tashkent, the Uzbek Chamber of Commerce told Trend on March 28.

The business forum was held as part of a visit of an Estonian business delegation headed by Foreign Minister Urmas Paet to Uzbekistan.

The Estonian delegation included heads of the Chamber of Commerce, the entrepreneurship promotion foundation, transport, logistics and industrial enterprises.

The joint consideration of the potential opportunities and the determination of specific perspective areas of the trade-economic cooperation are the main objectives of the Estonian delegation's visit.

The economic potential of the two countries , the opportunities for implementation of specific investment projects and proposals for the development of cooperation among businessmen and entrepreneurs, as well as those in the sphere of trade, transport and logistics were presented during the forum.

The Uzbek side stressed its interest in developing mutually beneficial cooperation with Estonia in the field of transport and logistics, chemical industry , as well as exports of small enterprises' and private businesses' goods.

The bilateral talks were held at the level of the business circles.

As of 2013, the trade turnover between Uzbekistan and Estonia increased by 25 percent - up to $ 18 million. Uzbekistan exports textile goods , fruits and vegetables , transport , travel and communication services to Estonia. The mechanical and electrical equipment , pharmaceuticals , wooden goods are mainly imported.

Currently, six companies with Estonian capital , including one - with Estonian investments are operating in Uzbekistan. The main areas of enterprises' activity with Estonian capital are to produce the building materials , electrical goods, pharmaceutical products , trailers for vehicles and tractors , as well as software.

The economic relations between the countries are governed by an intergovernmental agreement on trade and economic cooperation ( 1992 ) , convention on the avoidance of double taxation and prevention of tax evasion on income and capital ( 2012 ).

Currently , the operations are underway to expand the legal framework between the two countries at the intergovernmental and inter-sectoral levels.

Translated by NH

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