Prospects for the development of trade, economic and investment cooperation between Uzbekistan and LithuaniaOn May 8, round table discussion on "Prospects for the development of trade, economic and investment cooperation between Uzbekistan and Lithuania" with participation of the Minister of Foreign Affairs of the Republic of Lithuania, Linas Antanas Linkevičius, and business circles of the two countries was held at the Chamber of Commerce and Industry of Uzbekistan.
As reported by the Press Service of the CCI, the business circles of Lithuania included companies engaged in forwarding and logistics, crop production, training of specialists in the field of medicine, processing electronic waste and production of metal products, as well as business consulting.
The purpose of this event is to promote establishment of trade relations between companies of Uzbekistan and Lithuania, to develop issues of creating new joint ventures and implementing new investment projects.
Issues of cooperation on strengthening interaction between entrepreneurs of the two countries were discussed during the business meeting.
Representatives of business circles of the Republic of Lithuania emphasized the positive dynamics of Uzbekistan's economic growth, welcomed the efforts of the government on liberalizing various sectors of the economy, creating necessary conditions for foreign investors. It was also noted that this round table will create an opportunity for the exchange of experience and opinions between business circles of the Republic of Uzbekistan and the Republic of Lithuania.
During the event, participants were introduced to the large-scale economic reforms being carried out in Uzbekistan, measures taken on liberalizing the economy and the foreign exchange market, improving the business environment, supporting business, protecting the rights and legitimate interests of small businesses and private entrepreneurship, increasing the investment attractiveness of the country's economy, as well as conditions for foreign investors in existing and newly created FEZ.
It should be noted, that by the end of 2017 the trade turnover between the countries amounted to about 260.0 million dollars.
Currently, 14 enterprises with participation of investors from Lithuania are operating in Uzbekistan, of which 3 – with 100% Lithuanian capital. Representative offices of Lithuanian 2 companies are accredited in the country.
The scope of these enterprises covers chemical, food, construction, pharmaceutical industries, as well as tourism services.
Following the round table, the sides discussed the priority areas for development of cooperation, primarily in trade, economic and investment spheres.
A press conference with participation of the Minister of Foreign Affairs of the Republic of Lithuania Linas Linkevičius was organized within the framework of the round table discussion for representatives of the mass media.
B2B meetings were also held between the business circles of the two countries, which will serve as an additional incentive for the development of business cooperation, as well as attracting foreign investment for implementing joint projects.