The economic potential of Uzbekistan presented in Israel

The economic potential of Uzbekistan presented in Israel

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Tashkent, Uzbekistan (UzDaily.com) — On 9 July, the Embassy of Uzbekistan in Israel held a round table on the expansion of the Uzbek-Israeli trade and economic cooperation, attracting Israeli investments and advanced technologies to Uzbekistan.

The event was organized with the assistance of the Israeli Institute of Export and International Cooperation (IEIC) — a state non-profit organization, part of the Ministry of Economy and Industry. The main specialization of IEIC is to assist Israeli Institute member companies in entering the world market, promoting international business cooperation.

The round table was attended by representatives of more than 25 Israeli companies, representing such areas as construction, telecommunications, innovative solutions in industry and processing, security, agriculture, production of textiles, and others.

Israeli business was thoroughly acquainted with large-scale socio-economic transformations in Uzbekistan, government efforts to liberalize the economy and improve the investment climate, and measures taken to encourage foreign investment. Separately, they touched upon the issues of interaction in the context of the regions and key sectors of the economy of Uzbekistan, which provide preferences to foreign companies when implementing joint projects.

IEIC Deputy Director General for International Economic Relations Sabine Sigal praised the ongoing economic transformation in Uzbekistan, the effective results of which are today confirmed by relevant international organizations. According to her, the opening of Uzbekistan to the world, the significant natural and human resources, the mixed nature of the republic’s economy, along with the historical friendly ties between the peoples of the two countries, are creating a growing interest among the Israeli business community to establish a mutually beneficial partnership.

Representatives of a number of companies expressed interest in visiting Uzbekistan in order to establish mutually beneficial cooperation. In addition, the possibility of organizing a visit to the republic by the IEIC leadership is currently being considered to familiarize with economic reforms in the country and discuss practical directions for expanding trade, economic, investment and technological cooperation.