EU envoy in Uzbekistan briefs Belgian companies on business opportunities in Uzbekistan

During the meeting, Sterk briefed the participants on conditions of doing business in Uzbekistan, trade, economic and political cooperation between the EU and Uzbekistan.

He said that Uzbekistan and the EU have untapped potential despite significant growth of trade turnover, which reached last year 1.65 billion euros. He said that the figure makes up only half of trade turnover of EU with such states as Moldavia and Georgia. There are huge potential to develop trade and economic relations between the EU and Uzbekistan, taking into account great internal market and existence of economic development programmes.

Yuri Sterk underlined that the EU allocated over 168 million euros to development of rural areas of Uzbekistan for next seven years. He said that the EU is ready to help Uzbekistan to join World Trade Organization and added that full currency conversion and simplification of business procedures will attract more foreign investments.

Sterk said that regular meetings at the level of ministers within the Committee on cooperation and Council of cooperation EU-Uzbekistan helps to development of bilateral ties. He added that Uzbekistan and EU are holding talks on forming EU-Uzbekistan Council on trade and investments, in which the European companies will participate.