Uzbek-British trade turnover doubled

The 27th meeting of the Uzbek-British Trade and Industry Council was held in London under the chairmanship of Deputy Minister of Investment, Industry and Trade Badriddin Obidov and British Parliamentary Under Secretary of State, Minister for Exports Malcolm Offord, UzA reports.

The event was attended by representatives of relevant ministries, agencies, industry associations, banks, and business circles, as well as heads of diplomatic missions of the two countries – more than 100 specialists.

The heads of delegations noted that cooperation is being strengthened consistently and at an accelerated pace. Trade turnover has doubled over the past five years and, at the end of 10 months of this year, amounted to $315 million. In Uzbekistan, 273 business entities operate with the participation of British capital, in particular, 162 joint ventures and 111 companies entirely organized based on the Kingdom’s capital.

Proposals that will help expand exports to the UK and deepen investment cooperation were reviewed and approved. Panel discussions took place on attracting and spending financial resources, education, transport, digital technologies, and business outsourcing.

According to the participants, the Trade and Industry Council has become an effective platform for enhancing collaboration between the two countries.

An action plan for further deepening economic, trade, and investment cooperation between Uzbekistan and the British and several documents on implementing the agreements were signed.