Embassy
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On the results of the 22nd meeting Uzbek-British Trade and Industry Council

 

 

About 100 representatives of government, business and academic circles of Great Britain attended the 22th session of the Uzbek-British trade and industry council (UBTIC) which was held on the 18 November 2015 in London.
The speakers at the event, including representatives of British companies distinguished the strategic position of Uzbekistan in Central Asia. They praised how the country's leadership has pursued an economic policy that ensures a consistently high level of GDP growth, one of the lowest external debt, a positive trade balance, as well as other positive macroeconomic indicators.
 
In her welcoming remarks, the Co-Chair of UBTIC Barbara Hay noted that Britain attaches great importance to the expansion of trade-economic and investment cooperation with Uzbekistan. Assessing the consistently high rates of economic development of Uzbekistan for the past 10 years, she stressed that the two countries have a considerable potential for expansion of cooperation on a wide range of areas of mutual interest.
B. Hay shared her impressions from a recent trip to Uzbekistan to participate in the International Investment Forum on the 5-6 November in Tashkent. She emphasized that she was pleasantly surprised by the participation of a huge number of foreign companies that have expressed serious interest in investment cooperation in Uzbekistan.
 
The Co-Chair called for British businesses to take advantage of the privatization program of state companies in the country and actively develop economic and trade cooperation. Stressing the importance of promoting dialogue between business representatives of both countries, she noted that the Uzbek delegation's visit provides an opportunity not only to "exchange notes" on current issues of cooperation, but also to designate new prospective areas and projects for joint implementation.
The representative of the agency UK Export Finance K. Graindzher held a presentation on the broad possibilities of agencies to support the development of the Uzbek-British Trade and Economic Cooperation. She stressed that the agency is ready to assist, both British and Uzbek businessmen in the implementation of export-import operations, including the provision of loans, guarantees, and insurance consulting services.
 
Executive Director of the «ING Bank» R. Olard shared his successful experience in Uzbekistan, particularly in the implementation of projects of Ustyurt gas chemical complex "Surgil" and the production of liquid fuels from gas using the «GTL» technology. He emphasized that a distinguishing feature of Uzbekistan is strong support from the government to attract foreign investment and advanced technologies, strategic approach to economic diversification and the development of basic infrastructure. Pointing to the significant potential of skilled and educated young people in the country, he called on the British business to invest actively in the economy of Uzbekistan.
 
Chairman of Cambridge Central Asia Forum Dr. S.Saksena enlightened the audience about the successful cooperation with Uzbekistan in the field of science and technology innovation through newly created Tashkent Center for High Technology. He highlighted the successful partnership of the government with the academia and scientists of Uzbekistan in the implementation of the Centre's activities.
 
S. Saksena acquainted others with the ongoing and planned work for the near future, the main purpose of which is the development of commercialization and the implementation of scientific and innovative development made by the experts of the Center together with the British experts. He highlighted the capabilities of the center in implementing research projects, including those requested by British companies in the fields of chemistry, biology, physics, information technology, microelectronics and urged British companies to cooperate.
 
Professor, University of London Metropolitan A. Kruglov briefed the audience with the current educational programs and collaborative projects with universities in Uzbekistan, as well as prospects of cooperation, in particularly the training of qualified personnel in the English language for educational institutions and businesses.
 
During the event, a number of British companies, including «Arup», «Thomson Reuters», «Fireland Capital» and others made various presentations, expressing interest in promoting their services in the promising market of Uzbekistan in areas such as design and construction of infrastructures, financial and consulting services. 
 
The Uzbek delegation informed the representatives of British organizations on the business and investment climate in the country, the potential development of mutually beneficial ties in various sectors of the economy, including within the framework of free economic zones in Navoi and Angren and Jizzakh.
 
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