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Web-conference of the Franco-Russian organized Chamber of commerce and industry

At the end of May, a web conference was organized by the Franco-Russian Chamber of Commerce and Industry (CCI France Russia) with the participation of the management of the Investment Promotion Agency . The discussion topic is dedicated to business development opportunities in the CIS countries: in Uzbekistan, Azerbaijan and Kazakhstan.The discussion was attended by specialists from the Trade Representation of the Republic of Kazakhstan in the Russian Federation, AZPROMO (Export and Investment Promotion Fund in the Republic of Azerbaijan), the French company Schneider Electric, Danone Kazakhstan and Kesarev Consulting LLC.

Opening the online meeting, Pavel Shinsky, CEO of CCI France Russia, noted that today the world is faced not only with the COVID-19 pandemic, but also with real economic challenges. That is why it is so important to formulate a set of decisions and exchange information and consulting support with partner countries.

Kesarev Consulting LLC prepared a review for the event on the economic situation of the countries under discussion, on the market situation and the most vulnerable and affected sectors of the economy from the coronavirus pandemic. It was noted that the leadership of the countries uses various approaches, mechanisms and models to combat the COVID virus -19. For example, in Kazastan, funds are allocated in 3 directions: ensuring economic stability taking into account the influence of quarantine restrictions, changing macroeconomic indicators, and supporting citizens and the state of the economy, including the implementation of individual projects that require financial incentives.

The representative of the consulting company emphasized that tension in the labor market is expected in Uzbekistan due to an increase in the number of unemployed, the return of labor migrants and a decrease in remittances from abroad by 35% compared to last year.
The IPAI leadership for the conference participants provided information on the program of measures to combat the pandemic and measures to support the population and business by the state. It was noted that the Republican Anti-Crisis Commission was created and the Republican headquarters was formed to support exporters and entrepreneurs engaged in foreign economic activity to ensure uninterrupted export of goods. In addition, an Anti-Crisis Fund was established under the Ministry of Finance of the Republic of Uzbekistan with a budget of $ 1 billion to ensure macroeconomic stability, uninterrupted operation of industries and sectors of the economy, stimulate foreign economic activity, provide effective social support to the population and prevent a sharp decline in incomes.

Special incentives have been introduced for a limited period to support entrepreneurs, business entities are granted a 6-month delay in paying several types of tax, and the application of higher tax rates for unused production areas is suspended.

In addition, the representative of Schneider Electric emphasized that the government of Uzbekistan is taking measures to organize uninterrupted logistics supplies of equipment and raw materials, which allowed the French company to reduce costs during the pandemic.
Next, the director of the Investment Promotion Department of the Azerbaijan Export and Investment Promotion Foundation made a presentation on the investment potential of Azerbaijan, voiced the current situation in the country in connection with the COVID-19 pandemic. He noted that the created 11 free economic zones, which provide a number of benefits, will play an important role in supporting the economy and foreign economic activity of Azerbaijan.
At the end of the web conference, the participants exchanged contacts, noting the productivity of the meetings in this format.