Azernews.Az

By Abdul Kerimkhanov

The 24th meeting of the Uzbek-British Council on Trade and Industry (UBCTI) was held on February 28 -March 1 in Tashkent.

More than 100 businessmen representing over the 55 British companies will take part in the event. This is the largest number of participants in the entire history of the Uzbek-British Council on Trade and Industry.

The annual session of UBCTI brought together entrepreneurs from Uzbekistan and the UK in order to provide an opportunity for both parties to learn more about the business opportunities available in both countries.

This year more than 110 businessmen representing more than 60 British companies took part in the event. This event attracts the largest number of participants in the history of UBCTI.

The plenary session was chaired by Deputy Prime Minister of Uzbekistan Elyor Ganiyev and Baroness Emma Nicholson of Winterbourne, the co-chair from the British side.

“Our country is confidently advancing along the path of cardinal reforms, the number of new investors in our market is increasing, but we understand that many foreign companies are still waiting for the moment - they look what will happen next. Once again, on behalf of the government, I want to firmly state that reforms in Uzbekistan are irreversible. They will continue on very confidently and effectively,” said Elyor Ganiyev at the meeting of the Uzbek-British Council on Trade and Industry in Tashkent.

During the plenary session, the parties discussed practical measures for the development of trade and investment between the UK and Uzbekistan, cooperation in the field of health, education and tourism.

Following the first day of the Uzbek-British Council for Trade and Industry, both parties signed a Memorandum of Understanding.

UBCTI was established in accordance with a bilateral agreement signed in 1994. This is an annual forum for promoting the development of trade and investment relations between Uzbekistan and the UK, and representatives of both sides are co-chairs.

UBCTI provides support and assistance to British companies currently operating in the Republic or wanting to invest in Uzbekistan. Meetings are held alternately in Tashkent and London.

Diplomatic relations between Uzbekistan and the UK were established on February 18, 1992.

The foundation of the Uzbek-British relations was laid during the visit of the First President of Uzbekistan Islam Karimov to the UK in November 1993.

Exports to the UK from Uzbekistan include ferrous metals and cotton. Major imports from the United Kingdom are services, machinery and equipment, chemicals, pharmaceuticals and consumer goods.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

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