Uzbekistan – Austria: New opportunities for trade and economic cooperation

On April 9, Tashkent hosted a regular meeting of Uzbekistan – Austria Intergovernmental Commission on Trade and Economic Cooperation.

The event was attended by heads of responsible ministries and agencies, companies operating in the economic, trade, industrial, investment, scientific and educational spheres, in agriculture and water management, energy, light and chemical industries.

The Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov, Director General for Foreign Economic Relations of the Federal Ministry of Digital and Economic Affairs of Austria Franz Wessig and others noted that bilateral cooperation is developing in many areas, including in trade and economic sphere.

There are about 50 joint ventures with Austrian investments in Uzbekistan. In 2018, the trade turnover grew by 40 percent. Currently, products of chemical industry, agriculture, and metal products are exported from Uzbekistan to Austria.

At the meeting of the Intergovernmental Commission, it was noted that the parties are equally interested in further increasing the volume of mutual trade, expanding trade, economic, scientific, technical and investment cooperation.

As it was noted, the parties have great potential for developing cooperation in pharmaceuticals, light industry, science and technology, tourism, standardization and ecology. At the same time, Uzbekistan has the opportunity to provide Austrian consumers with high-quality textiles, selected dried fruits, processed fruits and vegetables.

At the event, agreements were reached on construction of plants for production of steel structures, metal galvanizing, modern greenhouses for growing melon crops in Surkhandarya region in Angren free economic zone.

On the same day, Uzbekistan – Austria business forum was held in Tashkent.

At the event, issues of production and implementation of joint projects were discussed. Representatives of the State Committee for Tourism Development, Uzkimyosanoat Joint-Stock Company, Uztuqimachiliksanoat Association, the Pharmaceutical Industry Development Agency under the Ministry of Health of the Republic of Uzbekistan presented new projects.