Tashkent, Uzbekistan (UzDaily.com) -- On 8 May, the Deputy Prime Minister of the Republic of Uzbekistan Sardor Umurzakov and the Minister of Economy and Finance of the French Republic, Bruno Le Maire, held a video conference format.

During the negotiations, the parties discussed a number of issues of investment and trade and economic cooperation between the two countries.

France is one of the important partners of Uzbekistan in the European Union. The first official visit of the President of the Republic of Uzbekistan to Europe took place precisely in France. The parties noted with satisfaction that the agreements reached during this visit were specifically implemented in the implementation in Uzbekistan of a number of strategically important projects with the participation of French partners in the fields of geological exploration, the use of alternative energy sources, the production of building materials and tourism.

Taking into account the current state of development of the technological and production potential of French companies, the Uzbek side expressed interest in attracting these companies to implement investment projects in Uzbekistan in such areas as automotive and component manufacturing, production of building materials, pharmaceuticals, food products, production of electrical products and household appliances. The trigger for cooperation in this direction will be the visit of representatives of the movement of French entrepreneurs “MEDEF” agreed during negotiations to hold talks with representatives of government and business circles of Uzbekistan and form a package of new trade and investment projects.

The parties noted that the agreements reached and mutual understanding in matters of supporting Uzbekistan by the relevant structures of France and the European Union will continue to facilitate access to the French market for products of Uzbek manufacturers as part of the intensification and further increase in trade volumes.

In this regard, the parties expressed mutual interest in increasing the existing volume of trade and diversification of the mutual trade structure.

France occupies a leading position among the most active trade partners of Uzbekistan among European states. At the end of 2019, trade between countries grew by 10%. Positive dynamics was also noted in the first quarter of 2020 (+ 4.5%).

The French side shows interest in participating in the development of the tourism potential of Uzbekistan. A project is planned to create an international all-weather resort Beldersay-Chimgan-Nanai with the participation of a consortium of French companies.

During the negotiations, the French side also expressed its readiness to provide comprehensive support to Uzbekistan in joining the World Trade Organization, obtaining Uzbekistan the status of the beneficiary country of the European Union “GSP +” system of preferences and signing the Agreement on Enhanced Partnership and Cooperation with the EU.

The parties agreed to continue their course towards mutual rapprochement and further expansion of bilateral contacts on a systematic basis - consultations will be held at the expert level, including through video conferencing, for the high-quality implementation of the agreements reached with the French side and the development of new areas of cooperation.