Tashkent, Uzbekistan (UzDaily.com) – The Republican Industrial Fair and Cooperation Exchange opened in Tashkent in order to expand the production of import-substituting and export-oriented products, develop industrial cooperation between economic sectors and small businesses, as well as expand the industrial potential of the regions.

The fair and exchange will last till 22 November 2019 in the exhibition halls of Uzexpocenter.

On the same day, after the official part of the opening ceremony, a briefing was held for media representatives with the participation of the leadership of the Ministry of Economy and Industry to clarify the essence and significance of the event held as part of the implementation of the May Decisions of the President on the further development of industrial cooperation and expansion of production of demanded products.

In particular, journalists were provided with information about the Electronic Cooperation Portal, which is a new platform for finding partners, establishing long-term business relationships, providing the possibility of prompt conclusion of business agreements (contracts) for the supply of industrial products remotely, as well as informing all interested parties about the types technical characteristics and quality parameters of industrial products produced in the republic.

At the opening of the industrial fair and cooperation exchange of Uzbekistan, Minister of Economy and Industry Botir Khodjaev noted that this forum of industrialists will open up new opportunities for increasing production efficiency, reducing foreign exchange costs, increasing the volume of domestic products in the domestic market, expanding the scale of localization, and developing cooperative ties between enterprises, expanding the share of industry in the structure of GDP.

Organized by the Ministries of Economics and Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan, the Chamber of Commerce and Industry of Uzbekistan, the Industrial Fair and the Cooperation Exchange are essentially unique mechanisms for forming a portfolio of orders. They allow expanding intersectoral production cooperation, strengthening production ties within the industry and stimulating the production of finished products, as well as intensifying the modernization of production for the production of new types of products, attracting small businesses to master the production of components and parts for large enterprises, and mastering the production of previously imported components products, raw materials based on production capacities and technological capabilities of local pre enterprises.

The exhibition demonstrated the types and types of products manufactured by local enterprises today, projects implemented with the aim of import substitution, and also discussed the needs and demands of enterprises. Therefore, it will be possible to determine which areas of industry need development more than others, and which products are in demand. At the fair, handouts on available products, as well as catalogs on the production potential of the regions of the republic, were provided.

Presentations of leading enterprises are planned within the framework of the forum. Such events provide good opportunities for discussing issues of inter-industry and intra-industry cooperation. During the Cooperation Exchange, a list of products that enterprises offer for development to domestic manufacturers, including small businesses, will be presented. This is a unique opportunity for exchange participants to discuss all issues of interest, sign agreements and contracts.

During the week, participants in the industrial fair and the Cooperation Exchange can get acquainted with each other’s opportunities, offers and needs, hold negotiations on cooperation issues, sign trade contracts and partnership agreements. In the framework of the Republican Industrial Fair, enterprises of industries and small businesses are provided with the opportunity to purchase previously imported products developed in the republic, as well as enter into economic agreements with industry associations, large industrial enterprises, as well as enterprises and organizations with a state share in the authorized capital more than 50% for the supply of finished products, materials, components and raw materials.