The Minister of Investments, Industry and Trade Laziz Kudratov received the British Ambassador to Uzbekistan Timothy Torlot.

The parties discussed the implementation of joint projects and agreements in the investment, trade and economic spheres, as well as the prospects for enhancing the partnership between Uzbekistan and the United Kingdom.

Positive dynamics in mutual trade were noted. Over the past year, the volume of trade increased by almost 15 percent and amounted to $203.2 million. An agreement was reached to increase the indicators, including by diversifying exports to the UK and using all the possibilities of the beneficiary of the UK’s GSP Enhanced Framework. For example, within the framework of this system, in 2022, the supply of Uzbekistan products to the UK increased by 30 percent.

The parties also discussed the issue of further developing investment cooperation. Over the past few years, the number of enterprises with British capital in Uzbekistan has increased by more than 50 percent and reached 331. These business structures operate in various sectors of the economy, including agriculture, pharmaceuticals, food production, and others.

The sides discussed the possibility of involving the financial institutions Standard Chartered and UK Export Finance in the implementation of projects in the mining and metallurgical industries and in the development of railway transport.

UzA