Third meeting of the Uzbek-Emirates Intergovernmental Commission takes place in Tashkent

Third meeting of the Uzbek-Emirates Intergovernmental Commission takes place in Tashkent

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Tashkent, Uzbekistan (UzDaily.com) — On 12 March, the third meeting of the Uzbek-Emirates Intergovernmental Commission on trade-commerce and scientific-technical cooperation was held at the International Business Center during the visit of the delegation of the United Arab Emirates business circles (UAE) headed by Economy Minister Sultan bin Saeed Al-Mansuri.

The event was organized by the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan with the assistance of the Ministry of Economy and the Chamber of Commerce and Industry of the United Arab Emirates.

The UAE delegation included representatives of government agencies and the largest companies in the UAE, which are widely represented on the international market. Representatives of the Abu Dhabi Development Fund, Abu Dhabi’s national oil company ADNOC, a company Masdar specializing in renewable energy and sustainable development of cities, investment companies of the United Arab Emirates, arrived in Tashkent to discuss the further development of trade, economic, investment and financial cooperation. Dubai Mubadala Investment Corporation and Flydubai Airlines

The Deputy Prime Minister of the Republic of Uzbekistan Elyor Ganiyev co-chaired the meeting on the Uzbek side.

During the meeting, the sides exchanged views on the current state of bilateral cooperation, noted potential points of growth in the development of strategic partnership between Uzbekistan and the UAE and confirmed their intentions within the framework of signed agreements on the results of the Uzbek-Emirates business forum in October 2018.

One of the key issues of the meeting was the discussion of further steps to expand investment and the formation of the investment portfolio of a joint investment company, the founders of which are the Abu Dhabi Development Fund and the Fund for Reconstruction and Development of Uzbekistan.

During the discussions, particular attention was paid to expanding the range of products supplied and increasing bilateral trade.

Separately, within the framework of the agenda of the meeting of the Intergovernmental Commission, issues on cooperation in the field of geological exploration, extraction and deep processing of hydrocarbons were discussed with the participation of Mubadala, to continue the expert consulting assistance of ADNOC with Uzbekneftegaz on cooperation in the field of renewable energy with Masdar.

The third meeting of the Intergovernmental Commission on Economic, Commercial and Technical Cooperation marked the opening of a new route between Dubai and Tashkent, which will be operated by Fly Dubai airlines from 11 March.

The parties stressed that this decision will allow to expand cooperation in the field of tourism, implementation of trade operations and attracting investment between the two countries. The parties also discussed the preparation of the visit of the President of the Republic of Uzbekistan Sh. Mirziyoyev to the United Arab Emirates.

Following the event, the Protocol of the third meeting of the joint commission on trade, economic and technical cooperation between the Republic of Uzbekistan and the United Arab Emirates was signed.