Business circles of Uzbekistan and Estonia hold talks in Tashkent

The business forum was organized within the visit of the delegation of business circles of Estonia led by Minister of Foreign Affairs Urmas Paet.

The Estonian delegation included representatives of Chamber of Commerce and Industry, Fund for Assisting Development of Entrepreneurship, transport-logistic and industrial enterprises.

Minister of Foreign Affairs of Estonia Urmas Paet said that Estonian side considers Uzbekistan as a key partner in the region and interested in further expanding fruitful cooperation.

The participants underlined high economic growth of Uzbekistan, which will serve as good bases to development of business contacts.

During the forum, the participants considered opportunities and perspectives of developing trade-economic cooperation.

At the forum, the presentations of economic potentials of two states, concrete investment projects, proposals on developing of cooperation between business entities, in trade, transport and logistics were held. After the event, the cooperation exchange and bilateral talks between the businesses were held.

At the end of the forum, Chambers of Commerce and Industry of Uzbekistan and Estonia signed an agreement of cooperation. The memorandum of understanding between leading transport-logistic companies of two states was also signed.

Trade turnover of Uzbekistan and Estonia grew by 25% to US$18 million in 2013. Uzbekistan supplies ready garments, fruits and vegetables, transport, tourism and communication services. Uzbekistan imported mechanic and electric equipment, pharmaceuticals, wood products, etc.

Currently, six enterprises with Estonian capital operate in Uzbekistan, including five joint ventures and one enterprise with 100% Estonian investments. One Estonian firm accredited its office at the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan.