Delivery of Uzbek goods to the UK increased by 30 percent

Uzbekistan - Great Britain records positive dynamics in mutual trade. Over the past year, the volume of trade increased by almost 15 percent and amounted to $ 203.2 million. An agreement was reached to increase the indicators, including by diversifying exports to the UK and using all the capabilities of the British beneficiary of the GSP Enhanced Framework. As part of this system, the supply of Uzbek products to the UK in 2022 increased by 30 percent.

This was noted at the meeting of Minister of Investment, Industry and Trade Laziz Kudratov and Ambassador Extraordinary and Plenipotentiary of the United Kingdom of Great Britain and Northern Ireland to the Republic of Uzbekistan Timothy Torlaton yesterday, January 19.

Prospects for the implementation of joint projects and agreements in the investment, trade and economic spheres, expansion of Uzbek-British cooperation were also discussed at the meeting.

The issue of further development of investment cooperation was discussed. Over the past few years, the number of enterprises with British capital in Uzbekistan has increased by more than 50 percent, reaching 331. They work in various sectors of the economy, including agriculture, pharmaceuticals, food production and other industries.

The parties discussed the possibilities of attracting financial institutions Standard Chartered and UK Export Finance to implement projects in the mining and metallurgical industry, as well as in the development of railway transport.

At the meeting, the results of the meeting of the Uzbek-British Council for Trade and Industry, held in Tashkent at the end of last year, were highly appreciated. Within its framework, eight bilateral documents were signed aimed at expanding bilateral cooperation in various fields, including banking and education. In this context, the parties confirmed their intention to continue close cooperation in preparation for the UBCTI high-level meeting in London in the second half of 2023.