The business forum of entrepreneurs of Uzbekistan and Japan took place August 7 at the International Business Center in the capital city.

The business forum of entrepreneurs of Uzbekistan and Japan took place August 7 at the International Business Center in the capital city.

The event was attended by heads of ministries and other government agencies, companies and corporations of the two countries responsible for such areas as foreign economic relations, trade, investments, the banking and finance, the hydrocarbon sector, tourism, automotive industry, mining, geology, foods, chemical, light and textile industries, production of electronic goods, marketing, insurance, exports and imports, communications, information technologies and telecommunications, small business and private entrepreneurship.

Minister for Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan underlined especially the steadfast advancement of cooperation between Uzbekistan and Japan in all spheres, in particular in the trade and economic realm, an important normative foundation for which is served by agreements reached during highest-level meetings. The official visit of President Islam Karimov to Japan in February 2011 raised the bilateral relations to a qualitatively new level.

Japan is one of Uzbekistan’s major economic partners. In enhancing the ties with nations of the Asia Pacific, the development of interaction with Japan is important for our country.

Signed in 2002 between Uzbekistan and Japan, the Joint Declaration on Friendship, Strategic Partnership and Cooperation serves as a solid normative backbone for the consistent evolution of mutual bonds.

Uzbekistan’s dynamically advancing economy, the extensive opportunities created for business, privileges and preferences as well as the peace and calmness reigning in our nation facilitate the growth in the interest of foreign businesspeople, including the entrepreneurs of Japan, in the energetic cooperation.

Immense is the potential of Uzbekistan and Japan in the development of mutual trade and economic ties. In 2013, the volume of trade turnover between our two countries exceeded 215 million US dollars. The aggregate financial-technical funds invested in Uzbekistan by Japan surpass 2 billion dollars.

Twelve joint ventures created with the involvement of Japanese investments operate in Uzbekistan. They specialize in such sectors as machine building, metalworking, transport, tourism, healthcare, light industry and commercial operations. Eleven leading companies of that country have opened their representative offices in Uzbekistan.

At the forum, Japanese business circles were familiarized with the economic potential of our country, the opportunities of interaction in spheres like oil and gas, chemical industry, electrical engineering, information and communication technologies. The guests were presented the information on promising dimensions in the attraction of investments into our country, the factors in doing business and the realization of joint projects, privileges and preferences in the Navoi Free Industrial and Economic Zone, and the special industrial zones of Jizzakh and Angren.

“Japan is interested in the development of wide-scale and mutually advantageous cooperation with Uzbekistan,” says Mamoru Sekiyama, Chairman of the Japan-Uzbekistan Committee for Economic Cooperation, Vice Chairman of Marubeni Corporation. “Uzbekistan is a steadily advancing and economically dynamic country. Noteworthy in particular is the fact that within the last 9 years, the growth of gross domestic product in your country has been at least 8 percent. The volume of trade turnover between Japan and Uzbekistan has been increasing constantly. Our two nations wield an enormous potential in boosting these indicators. The current forum serves to reveal new edges in the mutually advantageous cooperation, to achieve constructive agreements and further consolidate our partnership.”

The business forum participants discussed in detail the issues in bolstering the trade and economic and investment cooperation between the two nations, including in the filed of transportation, banking sector, information and communication technologies, tourism, food, light, textile industries as well as the fuel and energy sector.

The participation of representatives of major companies of Japan in the forum is suggestive of their tremendous interest in the development of cooperation with Uzbekistan. Officials of such corporations as Marubeni, Itochu, Mitsubishi, JOGMEC, NEC, Toyo Engineering, Sojitz, Sumitomo, extended their aspiration for the establishment and expansion of their activities in the Uzbek market.

Later the day, a cooperation exchange took place with the engagement of companies and enterprises of Uzbekistan as well as the representatives of business circles of Japan. Agreements were concluded on the exports of a range of goods produced in Uzbekistan.

A memorandum was inked as part of the visit of the Japanese delegation between the Uzinfoinvest Agency of the Ministry of Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan and the Japan External Trade Organization (JETRO).