Uzbekistan and Japan discuss perspectives of trade-economic cooperation

A delegation of the Japanese business circles led by Senior Executive Vice President and Member of the boar of Mitsubishi Corporation Hideto Nakahara arrived in Uzbekistan to attend the session.

Representatives of ministries, departments and leading companies of Uzbekistan and Japan participated in the session.

The sides discussed issues of realizing agreements, reached within the official visit of the Japanese Prime Minister of Shinzo Abe to Uzbekistan in October 2015.

The participants also considered perspectives of investment cooperation in oil and gas, mining, electricity, chemical, automobile and other sectors.

At the session, the Uzbek side presented economic and investment potential of Uzbekistan, perspective directions of bilateral cooperation in various sectors, as well as conditions, created in foreign investors in Uzbekistan.

Hideto Nakahara at the session underlined that the Uzbek and Japanese companies are working on new joint investment projects for over US$8 billion.

Trade turnover of Uzbekistan and Japan made up US$254.3 million in 2015. Currently, there are 11 enterprises with foreign investments in Uzbekistan, including one with 100% Japanese capital. About 12 Japanese firms and companies are accredited at the Ministry of Foreign Economic Relations, Investment and Trade.

Japan directed over US$2.3 billion to implementation of priority projects. About US$1.5 billion were allocated to Uzbekistan via state soft yen loans and US$700 million – commercial loans.