Tashkent, Uzbekistan (UzDaily.com) – On 22 October  2019, an Uzbek-American business forum was held at the Reagan International Trade Center in Washington.

The delegation of Uzbekistan, which included the First Deputy Chairman of the Senate of the Oliy Majlis Sodik Safoev, Minister of Investment and Foreign Trade Sardor Umurzakov, Director of the Capital Market Development Agency Atabek Nazirov, Deputy Minister of Energy Umidjon Israilov, Chairman of the Uztekstilprom Association Ilkhom Khaidarov, took part in it. and about. Chairman of the Uzcharmsanoat Association Fakhriddin Boboev, representatives of other economic structures. It is reported by the Foreign Ministry.

The American side was also represented at a high level - US Secretary of Commerce Wilbur Ross, acting Assistant Secretary of State for South and Central Asian Affairs Alice Wells, Administrator of the US Department of Agriculture’s International Agricultural Cooperation Service Daniel Whitley, and over 200 representatives of large US and Canadian Fortune 500 companies such as General Electric, Boeing, John Deere, VISA, Procter & Gamble, Golden Horizon and others.

The forum, organized by the Embassy together with the American-Uzbek Chamber of Commerce (AUCC), was held in a new format with the participation of ministers from all countries of Central Asia, Afghanistan and the United States.

At the opening of the forum, the First Deputy Chairman of the Senate of the Oliy Majlis Sodik Safoev, and the Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov informed the audience about measures taken in Uzbekistan to liberalize the economy and create a favorable investment climate, including improving monetary policy and currency regulation, supporting small and medium business. Separately, the prospects of expanding trade and investment partnerships in the region and the role of the United States in these processes are highlighted.

As part of the event, relevant thematic panel sessions were held. The first panel session “Trade, Economic and Investment Cooperation in Central Asia” discussed issues of enhancing cooperation in the field of trade, modernizing regional infrastructure, stimulating industrial cooperation, creating joint production of competitive products and attracting high-tech US to the region.

At the second panel session, “Public-Private Partnership and Privatization of State-Owned Enterprises”, Alisa Chynybayeva, Director General for Central Asian Countries of VISA, Vibke Schlemer, Regional Director for Europe and Central Asia of the International Finance Corporation, and Heads of Representative Offices of the European Bank for Reconstruction and Development in the USA, spoke Michelle Small, Deputy Representative of the Asian Development Bank Fay Yu. They presented the possibility of financing PPP projects for the further development of energy th, the oil and gas sector, transport infrastructure, financial and banking sector, as well as agriculture in the region.

The third panel session, “Making Investment Attractive: A Government Policy for Developing Business and Financial Instruments,” was attended by US Eximbank Vice President Annette Maresh, USAID Deputy Assistant Administrator Javier Piedra, CNH Industrial Business Director Roberto Walfre, and US Corporation representatives International Development and Caterpillar. The speeches highlighted the prospects of using resources (60 billion US dollars) of the newly created US Corporation for International Development to increase the investment activity of American companies in the region.

US Secretary of Commerce Wilbor Ross, speaking at the forum with a welcoming speech, noted that the rapid expansion of the number of AUTP members by more than three times in less than three years reflects the growing interest and commercial partnership between Uzbekistan and the United States. It was stated that the US government is committed to deepening cooperation with Uzbekistan: "The US welcomes successful political and democratic reforms in the republic."

It was emphasized that under the leadership of President Shavkat Mirziyoyev, today Uzbekistan is improving relations with its neighbors in Central Asia and contributing to regional integration and interconnectedness. Such activities make Uzbekistan an increasingly attractive market, as companies can very easily serve the entire Central Asian region, working from Uzbekistan. These efforts are already yielding positive results.

According to the minister, much remains to be done to ensure the sustainability of the reforms. “It is important that Uzbekistan not only establish, but also maintain a reputation for transparency and the rule of law.”

According to the acting Assistant Secretary of State for South and Central Asian Affairs Alice Wells, the decisive reforms of President Shavkat Mirziyoyev in practice have opened new horizons for bilateral cooperation. She said that the United States will contribute to the economic transformation of Uzbekistan, its entry into the WTO, and are ready to fully support educational reforms, the development of the financial sector, agriculture and other areas. The Uzbek-American business forum will serve as a successful platform for many American entrepreneurs and large companies to discuss promising areas of building up their business opportunities in Uzbekistan.

Following the results of the Uzbek-American business forum, the following agreements were reached:

- on the organization of export of Uzbek textile products to the American market;

- on cooperation in introducing VISA technologies in electronic payment systems of the republic;

- on the organization of production of safety shoes in Kashkadarya region with the participation of Gulf Industrial Solutions;

- on the supply of humanitarian aid worth 800 thousand dollars. in the form of medical equipment to the Aral Sea region from the NGO Project Cure.

During the business forum, the official opening ceremony of two Uzbek trading houses Samarkand Gilamlari and Gulnor for the sale of silk carpets and textile products in Philadelphia (Pennsylvania) was also held.