Tashkent, 22 August 2023 (TDI): Uzbekistan Deputy Minister of Foreign Affairs Gayrat Fozilov held discussions with the United Kingdom’s Minister of Exports Lord Malcolm Offord.
The current state of Uzbekistan-UK cooperation and prospects for its development were discussed, with particular attention given to the development of economic diplomacy.
This includes activating direct contacts between the business circles of the two countries and expanding the types of goods exported from Uzbekistan to the UK.
Additionally, the subject matter of their discussions focuses on increasing the volume of trade between Uzbekistan and Britain as well as encouraging large British companies and financial institutions to implement joint projects in Uzbekistan.
Also Read: Significance of Higher Education in Advancing Growth and Progress in Uzbekistan
The parties exchanged views on the full implementation of trade agreements, investment agreements, and other previously reached agreements.
Furthermore, some issues of cooperation within the framework of international organizations were considered.
Additionally, it was noted that both sides are equally interested in close cooperation in the process of Uzbekistan becoming a member of the WTO.
UK’s Interest in Mining and Investment Sector
Lord Offord, during his tour, will also visit Almalyk Mine and the gold processing facility to identify areas for UK cooperation and export.
This is particularly given that Mining in Uzbekistan offers huge opportunities to the UK market and its position among the top 15 countries with the largest copper reserves.
Hence, the UK’s expertise in clean energy can help to influence the transition to a cleaner, and greener mining future.
According to the UK Department for Business and Trade, the current trade between Uzbekistan and Britain totals £267 million and the visit of Lord Offord to Uzbekistan aims to elevate the existing figures to new heights.
Meanwhile, the British government continues to support British companies such as Arup and ERG looking to enter the Central Asian market.
It was also noted by the Department that Lord Offord during his visit, will highlight how UK Export Finance, the UK’s export credit agency can help mobilize finance and promote the strengths of UK businesses in priority economic and social sectors and support critical projects in clean energy, transport, healthcare, education, and manufacturing.
