World Bank, Uzbek Foreign Trade Ministry discuss development of cooperation
19/05/2018 17:00
World Bank, Uzbek Foreign Trade Ministry discuss development of cooperation
19/05/2018 17:00
Tashkent, Uzbekistan (UzDaily.com) -- On 18 May, the Ministry of Foreign Trade of Uzbekistan hosted a meeting with the World Bank mission led by Michael Ferrantino and with the participation of Vika Chemutai, a consultant on WTO issues.
According to the Uzbek Ministry, the sides highly appreciated the seminar held in Tashkent on the theme "Renewal of Uzbekistan’s WTO accession process", organized jointly with the World Bank, the World Bank Group (WB) and the USAID Agency. Also, the World Bank expressed interest in continuing this practice of holding seminars with the participation of representatives of ministries and departments of Uzbekistan and international experts on the issues of accession to the WTO.
The sides noted importance of the previously signed agreement on consulting services with the International Finance Corporation (IFC), a member of the World Bank group. Also, Deputy Minister of Foreign Trade Sahib Saifnazarov notified representatives of the World Bank about signing documents on allocation of loans to Uzbekistan for US$940 million to finance new projects in the field of energy efficiency, fruit and vegetable growing and emergency medical services.
“These loans have increased the project portfolio of the World Bank in Uzbekistan to US$2.8 billion, which includes projects in the field of transport, education, agriculture, irrigation and water supply,” the deputy minister said.
During the talks, prospects for development of trade facilitation mechanisms were discussed, including such areas as transport, customs regulation and harmonization of legislation.
In his turn, the Deputy Minister acquainted the representatives of the international financial institute with the achievements in the field of trade facilitation. Saifnazarov spoke about the ongoing work to develop new transport corridors in the direction of China and Afghanistan. In addition, Sahib Saifnazarov informed the guests about development in the country of such areas as certification of products and bringing it in line with international standards, the creation and development of textile and fruit and vegetable clusters, as well as e-commerce.
In turn, representatives of the World Bank reported on their readiness to assist Uzbekistan in the development of e-commerce, in particular by attracting experts and conducting research in the development of the digital economy, as well as services.
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