Uzbekistan, USA to strengthen strategic partnership

According to the press service of the Ministry of Investment, Industry and Trade, talks were held with US Assistant Secretary of State for South and Central Asian Affairs Donald Lu, US Deputy Secretary of Commerce Alan Estevez, US Deputy Trade Representative Sarah Bianchi, Chairwoman of the Uzbek-American Chamber of Commerce Carolyn Lemm and other officials.

In particular, issues of further expansion and strengthening of the strategic partnership between Uzbekistan and the United States were discussed with US Assistant Secretary of State Donald Lu.

“The American side welcomed the large-scale reforms being carried out in Uzbekistan and expressed its readiness to further develop cooperation, meaning the implementation of large-scale projects,” the report reads.

The current state of trade and investment cooperation is also considered. Highly appreciating the potential for developing relations in this area, the parties agreed to develop cooperation as part of accelerating the process of Uzbekistan's entry into the World Trade Organization (WTO).

In addition, during the conversation with the Deputy Secretary of Commerce of the United States, the head of the Bureau of Industry and Security Alan Estevez, the prospects for expanding the range and increasing the volume of mutual trade were discussed. The importance of forming a joint working group, organizing trainings to improve the skills of representatives of ministries, departments, commercial banks of Uzbekistan in order to expand effective cooperation and ensure the growth of trade turnover was noted.

At a meeting with US Deputy Trade Representative Sarah Bianchi, the parties focused on strengthening the investment attractiveness of Uzbekistan, removing trade barriers and further simplifying trade operations. The successful activities of US companies implementing joint investment projects in Uzbekistan in the field of energy, engineering, textile industry, agriculture, pharmaceuticals and other areas were noted. An agreement was reached to hold a number of additional meetings and negotiations in order to determine further practical steps to expand mutual trade and economic cooperation.

During the visit, a round table was organized with the participation of members of the US-Uzbek Chamber of Commerce, leaders of large American businesses. In the form of presentations, the participants of the event were provided with information on the work carried out in the country to improve the investment climate, the created benefits and preferences, the improvement of legislation in order to protect the rights of investors, as well as the expansion of privatization processes and the reduction of the state's share in the economy.

“Representatives of the US business community, highly appreciating the effectiveness of reforms in Uzbekistan, drew attention to the importance of increasing direct interaction between large companies of the two countries in a number of areas in order to implement joint technology projects. Following the visit, the parties reaffirmed their commitment to further strengthening the strategic partnership, the desire to expand investment cooperation and mutual trade,” the press service concluded.