Breakthrough development of bilateral cooperation between Uzbekistan and Germany is expected

Over 250 leaders of large companies, holdings and industrial enterprises, banks, ministries, agencies and industry associations from Uzbekistan and Germany attended a joint business forum held in Berlin on May 2 this year on the eve of the visit of President of the Republic of Uzbekistan Sh.M.Mirziyoyev to the Federal Republic of Germany.
The active development of bilateral relations between Uzbekistan and Germany in recent years achieved dues to the trust and political will of the two countries was stressed by Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan, in his welcoming speech.
The double growth in mutual trade turnover over the past five years was noted by the sides. Another 50% growth of the indicators of bilateral trade was recorded at the end of 2022. It exceeded one billion euros for the first time.
They also observe consistent dynamics in investment cooperation and industrial partnership. A nearly threefold increase of the number of enterprises with German equity investment set up in Uzbekistan has been noted for a few years and it exceeded 200 units. An 11-fold growth of the total volume of German investments since 2017 made it exceed 4 billion euros. Business is already being done very successfully and new productions are being actively launched in Uzbekistan by many German companies, such as MAN, CLAAS, Knauf, GP Papenburg, Viessmann, Deutsche Kabel, LEMKEN.
Conditions created in Uzbekistan for comfortable work of foreign investors, as well as the strengths of the Uzbek economy drew the attention of German business circles. They particularly noted high human resource potential, strategic geographical position, free trade regimes with CIS countries, the GSP+ status, active efforts to join the World Trade Organization, rich resources of raw materials and direct support of the leadership and government in joint projects and initiatives.
Energy, chemical, food and textile industries, metallurgy, automotive industry, agriculture, production of building materials, electrical engineering, as well as pharmaceuticals and health care are the most promising areas for building long-term cooperation.
High appreciation of the results of economic reforms pursued in Uzbekistan, which have yielded, among other things, comfortable conditions for foreign investors working in the country, was given by representatives of German business circles. A firm commitment to step up cooperation and work out new joint projects was expressed by the sides.
B2B meetings and presentations of concrete cases and projects in various sectors of Uzbekistan’s economy continued the forum.

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