"Days of Uzbekistan’s economy" to be held in Germany this spring

Tashkent, Uzbekistan (UzDaily.com) -- On 18-20 February 2019, a delegation of the Ministry of Investments and Foreign Trade, headed by Sardor Umurzakov, paid a working visit to Munich.

The key event was a meeting with the Advisor to the Prime Minister of Bavaria, Head of Europe, International Relations, Mass Media Department of the State Chancellery, Dr. Thomas Gruber, on the implementation of the road map following the visit of the President of Uzbekistan to Germany in January of this year.

In addition to discussing the implementation of joint projects, the parties also discussed the possibilities of expanding trade, economic and investment cooperation between the two countries, as well as the prospect of organizing an official visit by the Prime Minister of Bavaria Markus Zeder to Uzbekistan in March of this year.

Moreover, by mutual initiative, “Days of Uzbekistan’s economy” will be organized in Munich and other cities of Bavaria this spring with the participation of a wide range of entrepreneurs, as well as industry associations from Uzbekistan and investors from Germany to hold presentations on the investment potential of Uzbekistan and to organize targeted meetings and B2B negotiations.

After that the Days of Bavaria Economy will be held in Tashkent in the format of business forums with the involvement of German investors to achieve the final agreement on the implementation of joint projects with the departure to the regions of Uzbekistan.

Also, in accordance with the request of the Uzbek side, an agreement was reached on close cooperation within the initiative to attract Bavarian experts and highly qualified managers to exchange experience with Uzbek colleagues in the sphere of clustering various spheres of the economy, meaning network association of interacting enterprises, research centers and service companies, which ensures a dynamic and sustainable development in any industry.

New investment initiatives were worked out with EAB New Energy and Ventus Engineering (wind power), Bio Gen Ltd (food waste processing), Lemken and Same Deutz-Fahr Germany GmbH (agricultural machinery), City Box (innovative solutions in urban urbanization) - in the near future, the management and engineering staff will arrive in Uzbekistan to study the technical and economic issues for the implementation of projects.

Notable was the meeting with the director of Deutsche Lufthansa AG, with whom they discussed the possibility of establishing direct flights between Germany and Uzbekistan, including using code-shearing schemes.

At the same time, negotiations were held with the leadership of Credit Suisse, a Swiss bank, on a number of projects, including introduction of a mechanism for pre-export financing, opening of additional credit lines for Uzbek commercial banks, and financing of social housing construction programs.