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Uzbekistan – UAE: Portfolio of investment projects exceeds $4 billion
13:54 / 2023-12-06

Dubai, UAE, hosted the UN Climate Change Conference.

The delegation led by the Chairperson of the Senate of the Oliy Majlis of the Republic of Uzbekistan Tanzila Narbayeva, who participated in the parliamentary session as part of the conference, held talks with the President of the Federal National Council of the UAE Saqr Ghobash.

The parties discussed issues related to enhancing cooperation in the political, trade, and economic spheres, eliminating the consequences of climate change, and expanding inter-parliamentary dialogue.

In recent years, mutual trade turnover between the two countries has increased 4 times, and in January-September 2023, the trade turnover amounted to $475.7 million. This figure increased by 40 percent compared to the corresponding period last year.

In Uzbekistan, the number of enterprises with UAE investments has increased 2.5 times over 5 years. The portfolio of investment projects, covering green energy, agriculture, transport and logistics, and tourism infrastructure, amounts to more than $4 billion.

The parties noted that both countries can increase these indicators several times, and parliaments should be active in this direction.

Interparliamentary cooperation is one of the most important mechanisms for developing relations between the two countries at all levels. In this regard, an exchange of views took place on ensuring the continuous strengthening of cooperation between the parliaments of Uzbekistan and the UAE, particularly in lawmaking and parliamentary control.

The need was noted for establishing systemic parliamentary control over the implementation of the tasks set in the action plan adopted based on the agreements reached at the highest level and revitalizing the activities of friendship groups, which is an essential aspect of public diplomacy.

An agreement was reached to continue cooperation within the framework of the UN, the Inter-Parliamentary Union, the Organization of Islamic Cooperation, and other multilateral structures.

Norgul Abduraimova, UzA