CAEF: a wide range of interests of Central Asian countries

Tashkent, Uzbekistan (UzDaily.com) -- In continuation of the program of the Central Asian Economic Forum, sectional meetings were held with representatives of the participating countries to discuss cooperation in the areas of trade, investment, transport and transit relatedness and tourism.

The opening speech was made by the Minister of Investments and Foreign Trade Sardor Umurzakov, who outlined the priority directions of inter-country cooperation and the most important results achieved through trade and economic cooperation.

Developing the theme of partnership, the State Secretary of the Ministry of Economy of the Kyrgyz Republic, the Chairman of the State Committee on Investments and State Property Management of the Republic of Tajikistan, the Deputy Chairman of the Board of Kazakh Invest also spoke. In addition, the heads of the sectoral departments and ministries of the participating countries spoke at separate sessions.

Then, under the leadership of the First Deputy Prime Minister of the Republic of Uzbekistan, bilateral meetings were held with delegations from Kazakhstan, Kyrgyzstan and Tajikistan, during which promising areas of institutional cooperation, technology exchange and business development were elaborated.

In particular, there was a significant increase in the trade turnover of Uzbekistan with the countries of Central Asia: the development of hydrocarbons, electricity, agricultural equipment, textile and chemical products, and building materials received particular development.

Moreover, a powerful impetus was given to the investment sphere: in the past two years, the number of enterprises with participation of capital from neighboring countries has more than tripled, the production of cars, household appliances, cranes and special freight transport has been localized, creating opportunities for saturation of regional markets products of own production.

Separately, questions were raised on the harmonization of the regulatory environment, as currently significant obstacles to the intensification of investment and trade partnerships create differences in the areas of financial, customs, sanitary, phytosanitary and veterinary control.

Upon completion of the meetings, the parties came to an understanding on key aspects of the development of long-term cooperation in the framework of strategic programs and specific projects.

At the same time, a diversified exhibition was organized for guests and participants of foreign delegations: manufacturers from the countries of the region had the opportunity to demonstrate the latest technological advances, exchange experience and even discuss the prospects for concluding contracts for the supply of their own products.

Representatives of the financial sector and the service sector at that time actively participated in B2B sessions on the platform of a cooperative exchange, also organized as part of the forum.