The intergovernmental negotiations on
financial and technical cooperation between Uzbekistan and the Federal
Republic of Germany were recently held in Tashkent.
At
the meeting were heads of ministries and departments related to foreign
economic relations, trade, investment, economy, banking and finance,
healthcare, tourism, education, agriculture and water management, high
technologies and construction sectors, as well as companies of Uzbekistan and
Germany.
The
ties between Uzbekistan and Germany are based on more than 100 documents.
These
documents range from agreements on the interstate, intergovernmental, and
interdepartmental levels.
Some
of the agreements include cooperation in investment, financial and technical
spheres, privatisation and state property management, as well as personnel
training.
The
Partnership of Cooperation Agreement signed between Uzbekistan and the
European Union seeks to establish preferential treatment in trade between
Uzbekistan and Germany. During the event, it was announced that Germany is an
important trade partner of Uzbekistan in Europe.
Germany
is also a very important and powerful investor in the landlocked nation.
Investors
from Germany have participated in many investments which have come to total
over ?1 billion.
At
the same time, trade between the two countries is increasing.
It is
not surpassing last year¡¯s volume of ?483 million.
In
Uzbekistan there are now 114 joint ventures that have been created with the
participation of multiple investors from Germany.
Additionally,
there are now 49 representative offices of German investors located in
Uzbekistan, showing the increased trade and investment ties between the two
countries.
These
representatives work in vital areas such as light industry, medicine and
pharmaceuticals, research, trade, agricultural processing, transportation of
passengers and goods, and automotive services among others.
In
many important sectors of the economy of Uzbekistan, German banks are
involved in various investment projects.
The
universities and research institutes of the two countries have also
established a mutually beneficial partnership.
They
also jointly conduct research in industry, agriculture, natural resource
management and other areas. At the meeting, the German guests were briefed
with the privatization process in Uzbekistan.
They
were also informed of the reforms in the economy, and favorable conditions
and opportunities created in the free industrial zone of Navoi in southwest
Uzbekistan.
Other
issues discussed include the development and implementation of new joint
projects, investment, financial and technical cooperation and the promotion
of direct contacts among businesses.
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