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Opportunities for expanding cooperation were discussed with the Canadian Export Development Corporation

In order to establish interaction with representatives of the foreign economic departments of Canada, as well as expand the Uzbek-Canadian trade and economic cooperation, the Embassy of Uzbekistan in Washington, also accredited in Canada, organized negotiations with the main representative for Eurasia of the Canadian Export Development Corporation Darcy Ferron and the regional director Europe, Middle East and Africa by Robert Cameron.

During the videoconference, the Ambassador Extraordinary and Plenipotentiary of Uzbekistan in Canada with a residence in Washington, Javlon Vakhabov spoke in detail about the phased measures to create a favorable investment climate in the republic. Active cooperation with such international financial institutions as the World Bank, IMF, ADB, EBRD, IDB, European Investment Bank and others, as well as foreign export credit agencies was reported. The participants in the meeting were informed in detail about the priority sectors of Uzbekistan, which are of interest to the Canadian side in terms of establishing cooperation, including oil and gas and mining, mechanical engineering, agriculture and food industry, textile industry and tourism.

During the conversation, Chief Representative for Eurasia of the Canadian Export Development Corporation Darcy Ferron noted that taking into account the economic reforms being carried out in Uzbekistan and the opening opportunities for foreign business, the Canadian Export Development Corporation is seriously considering the issue of establishing and expanding cooperation with the republic. It was announced that the Corporation is ready to accept proposals for financing investment projects in Uzbekistan, in case of receipt of applications from Canadian companies. In this regard, he recommended the representatives of the Embassy to actively promote promising projects among the business circles of Canada.

It was noted that the office of the Canadian Export Development Corporation in Istanbul will assist Canadian companies to enter the Uzbek market and widely familiarize themselves with the country’s investment opportunities. Darcy Ferron emphasized that over the past five years the Corporation has allocated 7.6 million dollars to Uzbekistan, mainly for the development of agriculture and the mining industry, supporting 8 Canadian companies and 4 small and medium-sized enterprises.

During the conversation, representatives of the Corporation supported the proposal of the Embassy to consider the possibility of implementing investment projects to organize the production of meat products in Uzbekistan, based on the experience and technologies developed by Canadian specialists. The head of the diplomatic mission noted that 84 new projects in the field of animal husbandry are planned to be implemented in the republic in 2020. The embassy has put forward an initiative to organize a visit of a delegation of the Ministry of Agriculture of Uzbekistan to the province of Alberta, which is a leader in Canada in terms of beef production and export and the number of cattle.

At the end of the meeting, representatives of the Canadian Export Development Corporation expressed their readiness to explore the possibility of establishing cooperation with Canadian companies interested in entering the Uzbek market and implementing business projects in Uzbekistan, as well as to organize joint online briefings to attract representatives of the Canadian business community to discuss and possible participation in the proposed investment projects of Uzbekistan.