10 May 2023

Uzbekistan and Qatar expand partnership in industry and investment

On May 8-9 this year, Minister of Investments, Industry and Trade Laziz Kudratov paid a working visit to the State of Qatar, where he held talks with the heads of key ministries, departments and large companies of this country, the press service of MIIT reported.

During the meetings, the current state and prospects for the further development of bilateral investment cooperation and industrial cooperation, as well as other issues of mutual interest, were considered.

In particular, prospects for the development of relations in the trade, economic and investment spheres were discussed with the Minister of Trade and Industry Muhammad al-Thani. The Qatari side highly appreciated the existing potential and expressed confidence that the upcoming visit of the Head of Qatar to Uzbekistan will give a powerful impetus to further deepening the multifaceted partnership and open a new chapter in the development of cooperation between the two countries.

Agreements were reached on the development of a Joint Action Plan for the development of bilateral trade, a joint Program for the development of industrial cooperation with the inclusion of investment projects in the field of energy, petrochemistry, chemistry, agriculture, food industry, tourism and the IT industry. Measures were agreed to prepare for the signing of agreements on the avoidance of double taxation, mutual encouragement and protection of investments. Through the joint efforts of the parties, a business forum will be organized in Tashkent with the participation of representatives of large business circles of the two countries.

During the conversation with Minister of Finance Ali al-Kuwari, an agreement was reached on taking practical measures to co-finance a number of infrastructure projects.

We agreed with the Governor of the Central Bank – Chairman of the Qatar Investment Agency Abdullah al-Thani to establish direct cooperation between Qatari and Uzbek commercial banks.

The implementation of joint projects in the energy sector with Nebras Power was discussed with the Minister of Energy – Chairman of Qatar Energy Saad Al-Kaabi.

As part of the meeting with the Chairman of the Qatar Chamber of Commerce and Industry Khalifa al-Thani, an agreement was reached on the establishment of a joint Business Council.

At negotiations with the heads of Qatar National Cement, Baladna, Qatari Diar, Fitco Detergents, Katara Hospitality, the prospects for the implementation of large projects in the production of building materials, household chemicals, animal husbandry, construction of hotels, shopping and entertainment and residential complexes were discussed.

The meetings allowed the parties to compare notes and develop concrete measures to expand partnership and fully implement all the projects and initiatives considered.