Uzbekistan, UAE reach agreements on projects worth over $10B

During the visit of Uzbek President Shavkat Mirziyoyev to the United Arab Emirates, agreements were reached totaling more than $10 billion, Trend reports with reference to the presidential press service.

The agreement was reached after the meeting between Mirziyoyev and Sheikh Mohammed bin Zayed Al Nahyan in the Qasr Al-Vatan Palace in Abu Dhabi.

"A joint statement was adopted between Uzbekistan and the UAE. The parties exchanged signed documents on cooperation in the areas of investment, finance, alternative energy, industrial and infrastructural development, agriculture, and customs administration. It was reported that in general during the visit, agreements were reached totaling more than $10 billion,” the press service noted.

During the negotiations, Shavkat Mirziyoyev noted that the United Arab Emirates in a short historical period of time - fifty years - had done a “miracle” in the desert: the country had become one of the world centers of economy, innovation, trade, finance and tourism.

Last year, trade turnover between the countries amounted to almost $400 million. The commission has been tasked to bring this figure to $1 billion in the coming years, increase the supply of goods and implement joint projects for processing raw materials and manufacturing value-added products.

A separate topic is tourism. Residents of the Emirates are interested in the mausoleums of great ancestors of the Uzbek people and nature of the country. Moreover, it was noted that the introduction of a visa-free regime for UAE citizens will contribute not only to the development of tourism, but also to further enhance trade and economic, scientific, technical and cultural cooperation between the countries.

In his turn, Mohammed bin Zayed Al Nahyan, highly appreciated the reforms being carried out in Uzbekistan to liberalize the economy, improve investment climate and strengthen international prestige of the country.

Diplomatic relations between Uzbekistan and the UAE were established on October 25, 1992. Nowadays, there are 107 enterprises in the country with participation of investments from the Emirates, and 28 representative offices of firms and companies operate in Uzbekistan. They are mainly engaged in the production of textiles, building materials, canned fruit, printing, wholesale trade and rendering services.

26.03.2019 11:28 / Hits: 79 / Print
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