Prospects for strengthening cooperation between Uzbekistan and the UK were discussed

On October 11 this year, Deputy Prime Minister – Minister of Investment and Foreign Trade Jamshid Khodjaev met with Ambassador Extraordinary and Plenipotentiary of the United Kingdom of Great Britain and Northern Ireland to the Republic of Uzbekistan Timothy Torlot.

During the conversation, the progress achieved within the framework of bilateral cooperation and the prospects for expanding cooperation in the investment and trade and economic spheres were discussed.

A consistent increase in the volume of mutual trade was noted, which increased by 30% in January-August of this year, including due to Uzbekistan obtaining the status of a beneficiary of the Expanded GSP scheme, which also made it possible to diversify and increase exports to the UK market by more than 50%. An agreement was reached on the preparation of the concept of a digital ecosystem, the development of digital infrastructure based on the best practices of the UK to improve the quality of Uzbek goods and services and promote them in foreign markets.

The prospects for expanding the investment presence of British companies in Uzbekistan were considered. It was about such sectors as agriculture, pharmaceuticals, textile industry, as well as the IT sector and the green economy. In this perspective, mutual intentions are expressed to take joint practical measures to improve the investment climate, increase the efficiency of project implementation and develop a long-term strategy for the investment attractiveness of Uzbekistan.

Opportunities for strengthening regional cooperation were discussed separately. The need to intensify the dialogue in the C5 + 1 format for the development of trade and investment, transport and communications, energy cooperation and mitigation of the negative consequences of the environmental crisis in the Aral Sea region was emphasized.

Following the talks, a commitment was expressed to continue an active and constant dialogue in all the discussed areas in order to strengthen the multifaceted interaction between the two countries.