Uzbekistan and Ukraine sign economic agreements for US$25 million

The event was organized by the embassy of Uzbekistan in Ukraine with the assistance of the ministries of foreign affairs, economic development and trade, the Ukrainian Chamber of Commerce and Industry and the International Chamber of Commerce.

During the forum with the participation of delegations from the governments and regional structures of the two countries it was noted that the structural changes in the economy that are being implemented in Uzbekistan will allow to expand fundamentally new forms of cooperation.

The parties considered the prospects for the development of joint ventures in the pharmaceutical, oil and gas, coal mining and other areas. The sides expressed a mutual interest in holding such events annually and using them as a platform for exchange of views, which will contribute to the further strengthening of bilateral relations.

The presentation of the potential of Navoi region was also held and the uniqueness of the investment opportunities created in the Free Economic Zone "Navoi" was described in detail. At the same time, Uzbek enterprises-participants such as Artel, Akfa, Osborn, Ideal, Bonito presented samples of their products.

As a result of negotiations, agreements were reached on the export of Uzbek goods, attracting Ukrainian investments for a total of US$25 million.

In turn, the Ukrainian side noted the deliberate and consistent development of the economy of Uzbekistan, which reduces the raw material orientation, which directly affects the growth in the structure of exports of finished products. Participants stressed the deep historical ties and complementarity of the economies of the two countries, which will allow the implementation of major infrastructure projects.

The strategic direction of cooperation is the transformation of Ukraine into a hub for the delivery of Uzbek products to the EU market. The interest was expressed in the delivery of Ukrainian goods through Uzbekistan to the Central Asian region.

At the same time, a delegation of Uzbekistan led by Minister of Economy Botir Khodjaev met with First Deputy Prime Minister of Ukraine - Minister of Economic Development and Trade Stepan Kubiv.

The sides noted the need to reach a new level of partnership through intensification of practical contacts in the fields of energy, transport, tourism, ICT, electrical engineering, railway electrification, car building, coal mining and pharmaceuticals.x`