Currency rates from 29/08/2025
$1 – 12482.38
UZS – 0.56%
€1 – 14540.72
UZS – 1.07%
₽1 – 155.23
UZS – 0.62%
Search
Economy 14/08/2020 Uzbekistan - Canada: New Prospects for trade and economic cooperation discussed
Uzbekistan - Canada: New Prospects for trade and economic cooperation discussed

Tashkent, Uzbekistan (UzDaily.com) -- On 12 August 2020, the Ambassador of Uzbekistan to Canada with his residence in Washington, Javlon Vakhabov held online talks with the Parliamentary Secretary of the Minister of Small Business, Export Development and International Trade of Canada on interaction with the Parliament, a member House of Commons by Rachel Bendayan.

During the meeting, the Ambassador presented the essence and content of the reforms being implemented in the country aimed at creating an attractive investment climate and a prosperous business environment. They also identified promising areas of interaction between the Uzbek side and Canadian companies, in particular in free economic zones, in the implementation of modern technologies and innovations in the mining and agricultural industries, modernization of production facilities.

The representative of the Foreign Economic Department of Canada stressed that her country positively assesses the efforts of the leadership and the Government of Uzbekistan to deepen economic reforms. Canada appreciates that the Uzbek side in a short period was able to take concrete steps to change the country’s international image and open it up for foreign business. According to Rachel Bendayan, Canadian business circles are showing increased interest in Uzbekistan.

The Canadian side also highly appreciated the efforts of Uzbekistan to join the World Trade Organization. She noted that membership in the WTO will expand trade relations between Uzbekistan and Canada. In this regard, Rachel Bendayan stressed that her government fully supports Uzbekistan in this matter.

Commenting on the prospects for Uzbekistan’s entry into the World Trade Organization, Ambassador Javlon Vakhabov noted that entry into this association is one of the main priorities of the country’s foreign economic course. It was emphasized that after an almost 15-year break, Uzbekistan resumed meetings of the joint working group on joining the World Trade Organization. At the fourth meeting of the Working Group, an agreement was reached on holding bilateral negotiations on ensuring access to the market for goods and services.

During the talks, the deputy of the House of Commons of Canada Rachel Bendayan highly appreciated the results of the telephone conversation between the heads of the foreign affairs agencies of the two countries. The sides noted the intensification of the Uzbek-Canadian cooperation in recent years. The mutual desire to fill the economic partnership with practical content was emphasized, including in the agricultural, mining, engineering and tourism sectors

Rachel Bendayan supported the proposal of the Embassy to organize a visit of the Uzbek delegation to the province of Alberta. According to her, this region specializes in the production of agricultural crops and their export. As promising areas of cooperation with Uzbekistan, such spheres as cattle breeding, poultry farming, gardening, production of grains, oilseeds, soil strengthening, as well as the introduction of modern irrigation technologies were identified.

Commenting on an online briefing on Uzbekistan for Canadian lawmakers on 24 June 2020, Rachel Bendayan noted that close inter-parliamentary ties should become an important pillar of promoting bilateral partnership. According to her, it is important to search for new areas of mutually beneficial cooperation by consolidating joint efforts of state and legislative bodies.

In general, according to our Embassy, the Canadian side is interested in the comprehensive development of cooperation with Uzbekistan in the trade and economic sphere and is ready to take an active part in the implementation of promising investment projects in the republic.

Stay up to date with the latest news
Subscribe to our telegram channel