BAKU, Azerbaijan, May 31. The investments flow from Italy to Uzbekistan have increased sevenfold over the past four years - from $7.1 million to $49.6 million, Agostino Pinna, Italian Ambassador to Uzbekistan said, Trend reports.
The remark was made following the round table discussion in Rome, with the participant of the Uzbek delegation, led by head of the Institute for Strategic and Regional Studies under the President of Uzbekistan, and the representative of Italian Ministry of Foreign Affairs and other Italian companies and universities. The roundtable was dedicated to the future prospects of the Uzbek-Italian relations.
Italy's ambassador noted that the constitutional reform in Uzbekistan in 2017 has strengthened the market economy, protected entrepreneurial activities, and private property.
For example, Italian-Uzbek trade turnover grew by 32 percent in 2022, compared to 2021, with Italy ranking as Uzbekistan's third-largest European trading partner. Italian businesses' interest in Uzbekistan is growing, reflected in increased investments across various sectors.
Following the roundtable discussion, the parties have reached an agreement on further developing expert dialogue and expanding contacts between analytical institutions in Uzbekistan and Italy.
In this context, a Memorandum of Understanding was signed between the Institute for Strategic and Interregional Studies under the President of Uzbekistan and the Italian Society of International Organizations.
The document provides for cooperation and regular working contacts between the analytical centers of both countries through joint research projects, organizing forums, seminars, and roundtable discussions on mutually interesting topics.