Ministry of Foreign Trade of Uzbekistan signs 5 documents in the USA

Tashkent, Uzbekistan (UzDaily.com) -- The Ministry of Foreign Trade of Uzbekistan signed 5 documents, aimed at strengthening trade relations with the United States and developing foreign trade potential of Uzbekistan as a whole, the press service of the ministry said.

One of the documents signed during the visit is ф Memorandum of Understanding on expanding bilateral trade relations with the US Department of Commerce. This document envisages interaction of ministries aimed at expanding bilateral trade relations, developing direct ties between business circles and encouraging their investment activities in the territories of the two states.

Within the framework of this document, an agreement was reached to resume the participation of representatives of Uzbekistan in the following US programs:

  • The program of development of commercial law for training lawyers of the republic on issues of international commercial law, exchange of information on commercial law in the United States and Uzbekistan;
  • A special American program of business internships (SABIT) for managers from the Republic for internship in leading US companies, establishing partnerships with US companies and getting acquainted with business American practice;
  • The program of interaction with the American business associations on the exchange of information about upcoming trade events, exhibitions and other trade projects.

Also, the Ministry of Foreign Trade of Uzbekistan signed a Memorandum of Understanding and Cooperation with USAID to support Uzbekistan’s accession to the WTO. The signing of this document means that the US side will support Uzbekistan in the process of accession to the WTO and will provide the necessary technical assistance in this process, including the preparation of the necessary documents for submission to the WTO, assistance in analyzing the consequences of the country’s accession to the organization and holding seminars and conferences.

"The signed agreements give a new impetus to cooperation between our countries and will help realize a significant potential in all areas. In addition, they provide for the participation of American specialists in the development of foreign trade of Uzbekistan. Thus, in accordance with the memorandum signed with USAID, the US will assist in the process of preparing for WTO accession, "commented the minister, Jamshid Khodjaev.

Within the framework of the Memorandum of Cooperation with USAID for holding a trade forum of Central Asian countries in Tashkent in October 2018, the Ministry of Foreign Trade of Uzbekistan and USAID will make every effort to organize the event at the highest level with the aim of establishing direct business contacts between Uzbek and US businessmen.

In order to ensure uninterrupted access of Uzbek products to the US market, an agreement was reached with the US company WCC International on the implementation of a special project for the certification of Uzbek textile and other products in accordance with international norms and standards. Within the framework of the cooperation agreement, it is also planned to introduce an international program for growing organic cotton in the republic.

It also envisages preparation of "road maps" for development of e-commerce in Uzbekistan and expansion of access of Uzbek entrepreneurs to global trading platforms and electronic payment systems. For this purpose, a Memorandum of Understanding and Cooperation was signed with the Internet payment company Openbucks Corp. on development of electronic commerce in Uzbekistan.

Minister of Foreign Trade Jamshid Khodjaev also spoke about the Amazon trading platform: "For the first time this company showed interest in our market. We have already made some progress in cooperation on this issue. Negotiations are currently under way with Amazon’s management and draft memorandums are being worked out that envisage the joint development of a roadmap for entering the Uzbek market. "

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