Tashkent, Uzbekistan (UzDaily.com) -- A briefing was organized by the Embassy of the Republic of Uzbekistan in Canada (with a residence in Washington) together with the Canadian Business Association in Russia and Eurasia (CERBA) for companies and individual entrepreneurs of Canada, active members of this association, Dunyo reported.

The event was attended by representatives of more than 80 companies, in particular, Condor Petroleum Inc (oil and gas industry), Alberta (agriculture and forestry), Viking Air Ltd (aviation industry), B2Gold (gold mining), AMC Consultants (consulting services), Wenco Mining (mining industry) and others.

The Ambassador of Uzbekistan to Canada, Javlon Vakhabov, outlined the essence and content of the reforms being carried out in the country aimed at creating an attractive investment climate and a prosperous business environment, as well as the measures taken by the Uzbek leadership to mitigate the negative impact on the economy of the coronavirus pandemic and the global crisis caused by it.

The embassy designated promising areas of interaction between the Uzbek side and Canadian companies, in particular in free economic zones, in the field of introducing modern technologies and innovations in the mining industry, and modernizing production capacities. The participants were also informed about measures taken in Uzbekistan to ensure macroeconomic stability, uninterrupted operation of industries and sectors of the economy, stimulate the activities of domestic and foreign companies, as well as effective social support of the population during the period of counteraction to coronavirus.

John Sloan, Director of CERBA in Vancouver (2010-2013 - Canadian Ambassador to Uzbekistan with a residence in Moscow), emphasized that Uzbekistan is developing rapidly, turning into a “hub of economic progress in Central Asia." He called on CERBA members to step up their activities in the republic. According to him, in recent years, Uzbekistan has created the most favorable conditions for foreign business and, Canadian companies “should take the moment” to invest in this promising market.

Participants of the event noted that the reforms being implemented in the country in the field of economic liberalization and the creation of favorable conditions for foreign investors open up new opportunities for expanding Uzbek-Canadian ties in trade, in particular in such areas as agriculture, IT, mechanical engineering, and service.

The videoconference also discussed Uzbekistan’s plans to implement large-scale infrastructure projects in the republic on the basis of public-private partnerships. Canadian companies expressed interest in organizing joint events dedicated to improving the knowledge and skills of local specialists on the conditions for doing business in Uzbekistan, as well as the prospects for implementing projects on the principles of public-private partnership.

In general, as our diplomatic mission notes, the Canadian business shows an increased interest in developing cooperation with Uzbekistan in the trade and investment sphere and is ready to take an active part in the implementation of promising investment projects in the republic.

As a result of the briefing, an agreement was reached with CERBA on holding a video exhibition of Uzbek folk art products in Canada on April 30. The Canadian side will be represented by more than 20 retailers and individual entrepreneurs. Representatives of the Hunarmand and Uzbektekstilprom associations are expected to attend the event.