On October 25 Uzbek-Japanese business forum was held within the framework of the official visit of Prime Minister of Japan Shinzo Abe in our country.

On October 25 Uzbek-Japanese business forum was held within the framework of the official visit of Prime Minister of Japan Shinzo Abe in our country.

The opening ceremony was attended by President of Uzbekistan Islam Karimov and Japanese Prime Minister Shinzo Abe.

Islam Karimov noted that Japan is one of the most reliable partners of Uzbekistan. Cooperation between Uzbekistan and Japan are developing in all sectors, and the current business forum is of great importance in further strengthening our trade and economic, investment, cultural and humanitarian ties.

Shinzo Abe underscored that he appreciated the fruitful cooperation between our countries and supports their further development, and noted that the Uzbek economy has been developing with a dynamic pace.

For our country the development of cooperation with Japan is significant in terms of expanding ties with the Asia-Pacific region. Japan and Uzbekistan have great economic potential and opportunities for further strengthening the partnership. Cooperation between the two countries have been developing in the spirit of the Joint statement on friendship, strategic partnership and cooperation, signed in 2002.

Economic ties between Uzbekistan and Japan are based on a number of documents, including agreements on trade and economic cooperation, mutual protection and promotion of investments. There are 10 joint ventures with participation of Japanese investments, representative offices of 12 Japanese companies operate in Uzbekistan. They are working in such spheres as transport, services, tourism, health, engineering and metalworking, light industry, export-import operations, supply of equipment under the investment projects.

As part of the Official Development Assistance program developed by the Government of Japan, Uzbekistan has been provided loans totaling more than 140 billion yen, grant assistance of over 22 billion yen, technical cooperation projects worth more than 13 billion yens have been implemented. In 2014 an intergovernmental agreement was signed in the energy sector, aimed at the realization of the Jupiter project for the construction of a large power plant in the Ferghana Valley.

The huge economic potential of our country, modern transport communications, favorable investment environment increase the interest of business community in Japan in expanding cooperation with Uzbekistan.

During the forum the Japanese businessmen have been provided with detailed information about socio-economic reforms in our country, development of small businesses and private entrepreneurship, promising projects in the oil and gas as well as chemical industries, preferences in Navoi, Jizzakh and Angren industrial zones. Uzbek-Japanese joint projects in various sectors, their results and prospects have also been discussed.

- Japan pays special attention to cooperation with Uzbekistan, - says the chairman of Japan External Trade Organization (JETRO) Hiroyuki Ishige. - A favorable investment environment, established in Uzbekistan and high economic opportunities are an important factor in the development of our trade, economic and investment ties.

Issues related to further development of trade-economic and investment cooperation in sectors such as energy, banking and finance, information technology, transport and communications, health, tourism, food processing, light industry, science and education were discussed at the he business forum. The sides exchanged views on cooperation in the field of personnel training and skills development.

Participation of over two hundred representatives of the business circles of Japan at the forum demonstrates the interest of this country in the development of cooperation with Uzbekistan. Representatives of such companies as Isuzu Motors, Nippon Export and Investment Insurance, Dai Nippon Construction, Shimizu, Chiyoda, Mitsubishi, Marubeni, Toyota Tsushyo, Itochu, Fujifilm, Sakura Global Holding noted that they intend to enter the markets of Uzbekistan and to further strengthen the established cooperation.

A number of agreements on cooperation in many fields, particularly in energy, oil and gas, chemical industry, geology, banking and finance, medical, tourism, agriculture, automotive industry have been signed at the end of the business forum.