Uzbekistan and the United States held bilateral consultations

Tashkent, Uzbekistan (UzDaily.com) -- A working group of ministries and departments of the Republic of Uzbekistan chaired by the Minister of Investment and Foreign Trade Sardor Umurzakov took part in the Uzbek-US annual bilateral consultations in Tashkent on 26 February 2019.

The US delegation was headed by Deputy Assistant Secretary of State for Economic Affairs David Meale.

The meeting discussed the prospects for cooperation in the areas of trade, investment and financial partnership, environmental protection, science, technology and health.

The exchange of views also demonstrated the presence of significant potential for the further development of investment cooperation in high-tech industries. The high capacity of the markets of Uzbekistan, Central Asia and the CIS countries creates all the conditions for the successful implementation of investment projects and an increase in commodity turnover between the two countries.

The parties discussed issues of establishing and diversifying cooperation between Tashkent and Washington in the financial sector, including in the framework of partnership with the Private Foreign Investment Corporation (OPIC) and the US Exim Bank.

The need to intensify negotiations on the conclusion of intergovernmental agreements on the promotion and mutual protection of investments and on the avoidance of double taxation, which will make a significant practical contribution to strengthening investment cooperation with US companies, was noted. This will increase the number of new joint projects.

In conclusion, the parties exchanged views on the high potential for establishing and expanding long-term and mutually beneficial relations, and also expressed confidence that the agreements reached during the negotiations will be fully implemented in the near future, which will significantly strengthen and bring relations to a new level.