23 February 2023

The meeting of the Uzbek-Finnish intergovernmental commission was held

On February 22 this year, in Tashkent, under the chairmanship of the Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov and the Minister for the Development of Cooperation and Foreign Trade of Finland Ville Skinnari, the 5th meeting of the Uzbek-Finnish Intergovernmental Commission on Trade, Economic, Scientific and Technical cooperation (IPC). This was reported by the press service of the MIIT.

During the meeting, the issues of further development of cooperation in the investment, industrial, trade, economic, cultural and humanitarian spheres were discussed and agreed upon.

In their speeches, the heads of delegations emphasized the significant potential for enhancing bilateral cooperation in priority sectors, the importance of attracting advanced Finnish experience and technological developments, as well as the commitment of the two states to continue systematic expansion of cooperation in areas of mutual interest.

The parties agreed to expand institutional cooperation, incl. through the financing instruments of the Finnvera Export Credit Agency “Public Sector Investment Facility” (provides long-term soft loans up to 30 million dollars, of which 30% in the form of grants) and the Industrial Cooperation Fund of Finland “Finfund” (provides project and investment financing private companies).

As part of the meeting of the IGC, the heads of delegations held a meeting in a narrow format. Particular emphasis during the talks was placed on further joint actions to develop investment cooperation and industrial cooperation between entrepreneurs of Uzbekistan and Finland based on the competitive advantages of the two countries. In this context, the most promising areas are mining, alternative energy, agriculture, food industry, education, and digital transformation.

At the end of the meeting, the parties expressed mutual commitment to deepening cooperation in the framework of the discussed areas, emphasizing that the synergy of innovative know-how and scientific developments of Finland with the infrastructure and human potential of Uzbekistan will contribute to the stable development of multifaceted cooperation between the two countries.