UAE-Uzbekistan Business Forum to be held this week to promote opportunities for cooperation

H.E. Bin Touq to lead a government & business delegation to Uzbekistan to explore ways to develop partnership

  

Abu Dhabi: H.E. Abdulla Bin Touq Al Marri, UAE Minister of Economy, will lead a high-level government and business delegation to Uzbekistan for a three-day visit from 24 to 26 August. The visit is aimed at developing economic relations, enhancing trade exchanges between the two countries, stimulating mutual investment flows, and identifying sectors and programs of cooperation at the governmental and private sector levels during the next stage.

During the visit, the UAE-Uzbek Business Forum will take place in Tashkent under the chairmanship of H.E. Bin Touq from the UAE side; and H.E. Sardar Omar Zakhov, Uzbekistan’s Deputy Prime Minister and Minister of Investment and Foreign Trade. The Forum will witness the participation of a number of senior government officials from the two countries and will hold meetings at both governmental and private sector levels.

In addition, the business forum will serve as an ideal platform for dialogue and coordination between the government entities in the two countries, and will enable both UAE and Uzbek companies to explore opportunities to establish sustainable partnerships. Furthermore, it will witness the signing of MoUs at the governmental and private sector levels, agreeing on commercial activities and economic projects that serve the economic and commercial objectives of the two countries during the next phase. These will focus on trade, investment, tourism and cooperation activities in the energy and renewable energy sectors, logistics, dry port operations, real estate, agriculture, food security, health care, pharmaceutical industries and entrepreneurship.

The forum falls within the framework of the distinguished economic relations between the UAE and Uzbekistan, which has witnessed great progress over the past few years. This growth is expected to continue during the next stage, leading to the achievement of shared development goals and raising the existing partnerships to even higher levels.

Reflecting the shared commitment of both countries to promote mutual cooperation, the value of non-oil trade exchange between the two sides has doubled during the last decade to reach USD 400 million in 2020 from USD 173 million in 2011.

The UAE delegation’s visit to Uzbekistan is expected to contribute to opening up more channels of communication and cooperation between the UAE and Uzbek governments, advancing economic and trade ties, and facilitating partnership activities at the private sector level to support the two countries’ development aspirations. The UAE-Uzbek Business Forum is the main event of this important visit, during which the two sides will identify clear paths for the development of mutual partnerships during the next stage. It will also help develop strategies to increase the volume of bilateral trade; enhance the linkage between the business communities; and provide adequate support and facilities to the companies of the two countries for trade and investment operations in both markets.

More than 30 representatives from nearly 18 governmental and private entities in the country will join the UAE delegation to Uzbekistan. Apart from the Ministry of Economy, these include the Ministry of Climate Change and Environment, Ministry of Energy and Infrastructure, Abu Dhabi Department of Economic Development, Khalifa Fund, the Chambers of Commerce and Industry of Dubai, Sharjah and Al Fujairah, Invest In Sharjah, Etihad Credit Insurance, Dubai Ports, Abu Dhabi Ports,  Mubadala, Masdar, Julphar, The Kanoo Group, Damac. From the Uzbek side, representatives of more than 40 entities in the government and private sectors from across various sectors will participate in the forum.

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