Issues of trade and investment interaction of British business with Kashkadarya and Namangan regions discussed

Tashkent, Uzbekistan (UzDaily.com) -- On 2 July 2019, a videoconference was held with the participation of the leadership and members of the South London Chamber of Commerce, representatives of khokimiyats and business circles of Kashkadarya and Namangan regions.

London Southside Chamber of Commerce (LSCC) was established in 1981 and unites about 250 small, medium and large business companies located in the Wandsworth, Southwark and Lambeth districts of London.

At the videoconference, organized by the Embassy of Uzbekistan in London, the British side was represented by more than 50 member companies of LSCC operating in the field of health, agriculture, pharmaceuticals, education, food production, legal services, fashion industry, environmental protection, energy, catering and others.

The executive director of LSCC Jerry McDonnach noted that during a trip to Uzbekistan from 30 March to 9 April, a delegation of the Chamber of Commerce of 15 companies visited Bukhara, Samarkand and Khorezm regions, where they held a number of meetings with representatives of local authorities and the private sector.

Following the results of the business forum and cooperation exchange, held jointly with the Chamber of Commerce and Industry of Uzbekistan in Tashkent, cooperation agreements were signed with the territorial units of the Chamber of Commerce and Industry in Kashkadarya and Namangan regions.

Representatives of khokimiyats presented investment and trade and economic potential of Kashkadarya and Namangan regions. Uzbek businessmen representing the textile industry briefly outlined their projects offered to foreign investors.

According to representatives of British companies, economic reforms and measures of the Government of Uzbekistan to improve the investment climate and liberalize entrepreneurial activities in the country seriously stimulate the growth of interest of British companies to cooperate with Uzbek partners.

British participants of the event showed particular interest in information regarding educational reforms, development of the capital market, as well as stimulating the activities of small and medium-sized enterprises.

Speakers noted a significant intensification of bilateral economic and trade relations over the past few years. In January-May of the current year, the trade turnover between the countries amounted to US$77.7 million, including exports - US$39.3 million, which exceeds the figures for the same period of 2018 by 3 times.

Taking into account that Uzbekistan managed to enter the British market of fruits and vegetables this year, a number of trading companies in South London expressed interest in exploring the possibility of importing fresh and dried agricultural products from our country.

Following the event, an agreement was reached on organizing a trip of British companies to Kashkadarya and Namangan regions. In addition, an agreement was reached to hold separate negotiations online with a number of companies participating in the event in the field of information and communication technologies, pre-school and school education, import of fruits and vegetables to the British market, health care and pharmaceuticals.