Issues of international cooperation in the investment and trade-economic spheres discussed

Tashkent, Uzbekistan (UzDaily.com) -- On 4 September, a number of workshops were held under the leadership of Minister of Investments and Foreign Trade Sardor Umurzakov to discuss international cooperation in the investment, trade and economic spheres.

The issues of preparation for the next meetings of the Uzbek-Bulgarian, Uzbek-Czech and Uzbek-Polish intergovernmental commissions on trade and economic cooperation, which are scheduled for September 2019, were touched upon as a priority. The discussion was also attended by the heads of ministries and departments included in the composition of these commissions, as well as representatives of diplomatic missions of Uzbekistan abroad.

During the meeting, the current state of investment projects and trade agreements being worked out for signing was discussed. Moreover, through constructive discussion and exchange of views, new proposals were developed to expand investment partnerships and increase export deliveries, based on the specifics of the economies of the above countries, and addressed instructions were given to the heads of the relevant departments.

Next, the course of the implementation of the agreements reached as a result of summit events with the Russian Federation and the Republic of India, as well as the dynamics of the development of economic relations with the Republic of Azerbaijan, were examined. In this context, it was noted the need to strengthen work with foreign counterparties by creating an established system of close and continuous communication between ministries, departments and companies of both countries, which in turn will allow to intensify the elaboration of existing agreements and the search for additional opportunities for cooperation.

In this regard, preparations for the first meeting of the Uzbek-Indian Committee for the implementation of joint projects were discussed and priority areas for forming a pool of promising investment initiatives were identified. The heads of the involved departments and ministries also outlined the main guidelines and tasks in preparation for a top-level visit to the Russian Federation, also aiming to develop new project proposals of high profitability and significance for the integrated development of the national economy.

Special attention was paid to a number of issues in the field of organizing and conducting international exhibition events in Uzbekistan and the participation of domestic manufacturers in similar events abroad, which is one of the most important components of promoting domestic products in promising export markets.

In particular, great potential in attracting potential customers and buyers is the annual Made in Uzbekistan International Exhibition of National Products, in connection with which all questions on its organization and conduct, from the list of participants to the design of exhibition stands.

It was noted that in order to ensure the effectiveness of the exhibitions held, special attention should be paid to the field of advertising and PR, which would attract more potential buyers and ultimately increase the likelihood of achieving high rates of economic return by concluding specific export agreements and contracts.

No less important in this regard was the Shanghai-Expo International Import Exhibition, participation in which opens up great opportunities for Uzbek exporters to enter the multi-million dollar Chinese market: it was reported that this year Uzbekistan will receive the status of a “main guest” at this exhibition site. In this regard, branch ministries and departments were instructed to ensure the participation of leading manufacturers of each sector in this event and to take measures for a high-quality exposure of national products.