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The course of cooperation between Uzbekistan and Great Britain in the investment, trade and economic spheres was considered

The First Deputy Minister of Investment and Foreign Trade of the Republic of Uzbekistan Laziz Kudratov met with the British Minister of State for South Asia and the Commonwealth Lord Tariq Ahmad.

During the talks, the sides discussed prospects for expanding investment and trade and economic cooperation between the two countries, as well as the implementation of the agreements reached within the framework of the 25th meeting of the Uzbek-British Council for Trade and Industry.

The British side welcomed large-scale reforms aimed at improving the investment and business climate in Uzbekistan.

During the conversation, the parties noted the positive dynamics of mutual trade, in particular – in the post-period period: in January-July of this year, the trade turnover between the two countries increased by 52.5 percent. Also, significant growth is demonstrated by the indicators of attracting investments from the UK.

The issues of financial and technical cooperation were touched upon. The British side expressed gratitude for the assistance provided in the successful implementation of economic reforms in Uzbekistan within the framework of the Effective Economic Governance in Central Asia (ESD) program in partnership with the World Bank. The progress achieved in the implementation of the project to assess the negative impact of the pandemic on the export structure of Uzbekistan within the framework of the TAF2 COVID19 Rapid Response Facility grant was also noted.

Following the talks, the parties expressed their commitment to an active and constant dialogue in all the areas of partnership discussed and agreed to work closely with the British side to promote current projects and work out new areas of investment and trade cooperation.