Uzbek delegation took part in «One Belt, One Way» summit in Italy

«One Belt, One Way» Initiative covers a large part of Eurasia, connecting developing countries, states that form the «new economy» and developed countries. About 63% of the world population lives on this economic route, where financial and economic resources are concentrated in the amount of about 21 trillion US dollars. At the same time, Uzbekistan is also one of the participants of «One Belt, One Way» project and actively participates in discussions on further steps of regional development, integration and transport interconnectedness of the Asian region with EU markets.

The delegation of Uzbekistan headed by the First Deputy Chairman of the Senate of the Oliy Majlis of the Republic of Uzbekistan Sodik Safoev and the Deputy Director of the Investment Promotion Agency Oybek Elmuratov took part in the summit «Successful business on the road to development» of the «One Belt, One Way» initiative in Trieste (Italy) organized by the «European Ambrosetti House» in conjunction with the China Development Institute.

More than 200 representatives from 20 countries and international organizations took part in this event with the aim of discussing the consolidation of the efforts of the business community and the governments of the countries of the Eurasian continent to implement joint projects, thanks to the expansion of trade routes and stimulation of investment activity.

On the eve of the summit, a round table was organized with the participation of the Executive Director of the Development Strategy Center, deputy of the Legislative Chamber of the Oliy Majlis Eldor Tulyakov and Deputy Director of the Investment Promotion Agency  Oybek Elmuratov.

 UZIPA Deputy Director presented “Invest in Uzbekistan”, revealing the investment potential of the Republic of Uzbekistan. The round table participants were acquainted with the key economic indicators of the country, resource, energy and labor potential, the benefits and preferences provided to stimulate investment and attract business to implement projects, as well as the legislative framework aimed at protecting the interests of foreign and domestic investors.

The head of the delegation of Uzbekistan, the first deputy chairman of the Senate of the Oliy Majlis of the Republic of Uzbekistan Sodik Safoev at the summit presented to the participants a report on the ongoing work in the country to develop domestic and international railways, improve transport infrastructure. The efforts made for the speedy implementation of the China-Kyrgyzstan-Uzbekistan railway project, which will be the shortest route from China to Europe and the Middle East, were especially noted. As part of the event, steps were discussed to create a Trans-Afghan transport corridor with access to sea routes.

During the discussions, the summit participants noted that the “One Belt, One Way” initiative could become a large-scale program for the economic development of the states of the region, where the first step will be the formation of the concept of transport corridors and implementation of transport projects.

Within the framework of the summit, a meeting of the delegation of Uzbekistan with the leadership of the “European House of Ambrosetti” was organized, where they discussed the possibility of holding joint events to promote a favorable image of the republic, bringing to the political, business circles and leading Italian media information on the progress of socio-political and socio-economic transformations in Uzbekistan.

It was noted that during the negotiations organized in September this year at the Investment Promotion Agency, representatives of the European House Ambrosetti expressed great interest in organizing joint road shows in the countries of the world entrusted to the AIIP to demonstrate the economic recovery and investment potential of the Republic of Uzbekistan .