Tashkent, Uzbekistan (UzDaily.com) -- On 13 November 2020, in the format of a teleconference, negotiations were held between the Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov with the US Secretary of Commerce Wilbur Ross, during which topical issues of the current agenda of the Uzbek-American partnership and agreed on further steps to comprehensively strengthen bilateral cooperation.

The parties discussed current areas of interaction in the field of investments and entrepreneurship - it was noted that currently there are 276 enterprises in Uzbekistan with the participation of American investments, including 113 enterprises with 100% American capital. A willingness to implement joint measures to bring the American and Uzbek business communities closer was indicated, for which it was agreed to hold a roundtable video conference at the end of November this year with the participation of heads of large US corporations in order to promote new projects and initiatives.

Topical issues of bilateral trade and economic cooperation were discussed and further measures were agreed to increase the volume and nomenclature of bilateral trade amid the coronavirus pandemic. In this context, the need was noted for stepping up joint actions to strengthen the legal framework, develop e-commerce in the context of a pandemic, as well as implement a number of projects of regional importance aimed at increasing the interconnectedness of Central Asian countries.

Appreciation was expressed for the US support provided to Uzbekistan in the process of accession to the World Trade Organization (WTO), in particular, for the technical assistance of the US Agency for International Development (USAID). At the same time, Wilbur Ross assured the Uzbek side that the United States will continue to provide maximum support for Uzbekistan’s entry into the WTO.

They also noted the significant progress achieved in negotiations with the United States on market access for goods and services, which began in July this year. The parties expressed confidence that the established constructive dialogue in this direction will positively affect the process of Uzbekistan’s accession to the WTO.

Prospects for strengthening cooperation in the textile industry were considered - the significant potential of cooperation between American brands and Uzbek textile enterprises was emphasized, which is due to the presence in Uzbekistan of a raw material base and production facilities capable of providing high quality products. The parties outlined further joint steps to establish direct contacts between Uzbek manufacturers and representatives of American companies interested in supplying textile products to the United States.

In this context, the Uzbek side expressed gratitude for the support in resolving the issue of excluding Uzbek cotton by the US Department of Labor from the list of products produced using forced or child labor and lifting the ban on its purchase. Also, among other positive trends, the decision taken by the US Trade Representative in October this year to terminate the procedure for reviewing the application of the General System of Preferences (GSP) in relation to Uzbekistan based on the criterion of ensuring workers’ rights was noted, which is associated with the measures taken by the Uzbek government to end the practice of forced labor.

The current state of joint projects with the United States International Development Finance Corporation (DFC) was discussed. The US Secretary of Commerce, expressing satisfaction with the progress achieved in developing cooperation in this direction, voiced its readiness to support the Uzbek side in the accelerated implementation of agreed projects and initiatives aimed at improving the interconnectedness of the region and sustainable development of Central Asia.

Following the talks, the parties assured each other of their commitment to further strengthening trade and investment partnerships and agreed to intensify interaction in order to develop new directions for multifaceted cooperation between the two countries.