TASHKENT, Uzbekistan, September 30. Uzbekistan and Germany established a new comprehensive project portfolio covering diverse sectors for development of mutually beneficial cooperation, Trend reports.
The news followed a recent meeting between President of Uzbekistan Shavkat Mirziyoyev and Chancellor of Germany Olaf Scholz as part of the first Central Asia–Germany summit in Berlin.
During the meeting, special attention was paid to the expansion of business partnership, deepening cooperation in spheres of economy, investment, transport, energy etc.
As a result of the talks, a new portfolio of projects has been formed in the mining industry, energy, chemistry, electrical engineering, textile industry and infrastructure.
Uzbekistan outlined a number of new proposals for holding of regular joint economic events, the implementation of projects in the field of alternative energy, digitalization of agriculture and water resources management, deep processing of raw materials, expansion of financial instruments, strengthening ties between the regions of the two countries, cooperation in the field of migration and mobility.
In recent years, the indicators of trade turnover and industrial cooperation between Uzbekistan and Germany have doubled. Such leading German companies as Volkswagen, MAN, CLAAS, Siemens, Linde, Aurubis, Henkel, Knauf, Papenburg, Deutsche Kabel and many others successfully operate in the country.
At the previous visit of Uzbekistan’s president to Germany in May 2023, the parties concluded a package of agreements worth about $9 billion for the implementation of projects in various fields. Currently, more than 100 joint projects worth more than $10 billion are being implemented in Uzbekistan in cooperation with German partners.
The total volume of German investments in Uzbekistan over the past two years amounted to almost 2 billion euros.
Furthermore, the trade turnover between Uzbekistan and Germany has grown 2.2 times from $529.1 million to $1.16 billion over the past 6 years, exports grew by 2.5 times from $36.9 million to $91.4 million, while the volume of exports increased by 2.2 times from $492.2 million to $1.07 billion.
In 2022, Uzbekistan’s trade turnover with Germany showed a significant increase of 51.8 percent compared with 2021 calculations and reached a maximum volume of almost $1.2 billion, with exports increasing by 26.6 percent, while imports grew by 54.5 percent.