On the eve of President Shavkat Mirziyoyev's visit to the United States, an Uzbek-American Business Forum was held in Washington, D.C.
The forum was attended by leaders of key ministries and agencies, industry associations, commercial banks, and investment structures from both countries, as well as heads of major U.S. corporations involved in various sectors, including ICT, engineering, agriculture, light industry, transportation, banking, and other fields, Daryo.reports.
Speakers at the opening ceremony of the forum included Deputy Prime Minister of Uzbekistan Jamshid Khojaev, Minister of Investments, Industry, and Trade Laziz Kudratov, Chairperson of the American-Uzbek Chamber of Commerce Carolyn Lamm, President of the U.S. Ex-Im Bank Reta Jo Lewis, and Deputy Assistant Secretary of State for the United States, Mark Pommersheim. They emphasized the rapid development of trade, economic, and investment relations between the two countries, facilitated by the political will of leadership and continuous interaction between governments and business circles.
The Uzbek side presented key achievements in economic development, trade, industry, and improvement of the investment climate. Among other facts, the mechanisms for a free market and healthy competition, active support for entrepreneurship, infrastructure development, accessibility of energy resources, reduced state involvement in the economy, and large-scale privatization processes were highlighted.
Thanks to these reforms, Uzbekistan has become an attractive destination for investment, including for American business circles. Currently, 300 U.S. companies are operating in Uzbekistan, more than twice the figure in 2017. Success stories can be observed in various sectors, including automobile manufacturing (General Motors), agricultural machinery (John Deere, CNH), gas extraction (Air Products), agriculture (Silverleafe), and others.
Additionally, promising directions for joint investment projects were outlined, such as mining, chemicals, and energy industries, textiles, agriculture, pharmaceuticals, electronics, information technology, and the creation of joint ventures to produce high-value-added products for export to third countries.
The importance of activating business contacts between the two countries and the readiness to provide comprehensive government support for the implementation of all joint projects and initiatives were emphasized.
During the event, separate sessions were held on global competition, ensuring supply chain resilience, business environment development, innovation stimulation, strategic forecasting, privatization, and financial-technical cooperation.
The business forum continued with "G2B" and "B2B" meetings between leaders of ministries, agencies, industry associations, and leading companies from Uzbekistan and the United States. Participants were able to discuss in detail the establishment of joint ventures and the conclusion of mutually beneficial trade agreements.
Following the event, 12 documents were signed in the fields of energy, engineering, ICT, agriculture, financial-technical and scientific-technical cooperation, and the production of medical and pharmaceutical products.
President Mirziyoyev has already arrived in New York City to participate in the 78th session of the United Nations General Assembly and in a meeting in the C5+U.S. format. Presidents of Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan have also arrived in New York for the C5+U.S. meeting, which is expected to take place on September 19-20, 2023.
CentralasianLIGHT.org
September 18, 2023