15 September 2023

Trade, economic and investment relations between Uzbekistan and Germany are expanding

On September 14 of this year, as part of the visit of the German delegation led by a member of the board of the German Chamber of Commerce and Industry, Dr. Volker Traer, a number of events were held in Tashkent dedicated to the “Day of the German Economy in Uzbekistan”, dedicated to the development of trade, economic, investment and industrial cooperation between Uzbekistan and Germany. This was reported by the PR center of MIIT.

The busy program of the day began with a round table. During the event, the current state of bilateral cooperation and prospects for the implementation of mutually beneficial investment projects in priority sectors were discussed.

The round table speakers were Deputy Minister of Investment and Foreign Trade of the Republic of Uzbekistan Badriddin Abidov, Deputy Chairman of the Chamber of Commerce and Industry of Uzbekistan Jamshed Urakov, Member of the Board and Chief Executive Officer for Foreign Trade of the German Chamber of Commerce and Industry. Trade and Industry Volker Traier, Head of the Directorate for the Development of Foreign Trade Finance of the Federal Ministry of Economic Affairs and Climate Protection and Gerlind Heckmann, Director of the Agency for Promotion of Foreign Investments under the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan Murad Mirzaev and German Ambassador to Uzbekistan Thilo Klinner.

It was noted that Uzbekistan considers Germany as a strategic partner in the European Union, and both sides are making every effort to further develop bilateral relations. At the same time, attention was drawn to the need to increase the efficiency of cooperation between the two countries by promoting new promising projects and initiatives.

For reference: the total volume of German investments in Uzbekistan over the past two years amounted to almost 2 billion euros. Also, more than 100 joint projects worth more than $10 billion are being implemented with German partners.

Over the past 6 years, the number of enterprises created in Uzbekistan with the participation of German capital has increased almost 3 times, and today has reached 200 units. Over the first 6 months of this year, 17 joint ventures were launched.

After the round table, meetings in the B2G format and the conference “Day of the German Economy in Uzbekistan” were organized.

The conference was attended by more than 300 representatives of the business community of Germany and Uzbekistan, investors, as well as heads and specialists of the country’s ministries and departments.

The conference program included panel discussions on the topics “German dual education system in Uzbekistan: opportunities and prospects” and “Cooperation between Uzbekistan and Germany on changing the energy sector.”

The conference participants noted that such large-scale international events play an important role in the further expansion of business ties, the development of bilateral trade, identifying prospects and opportunities for promoting joint investment projects and initiatives, as well as strengthening ties between the business communities of both countries.