Business circles of Uzbekistan and Spain hold negotiations
23/04/2014 14:40
Business circles of Uzbekistan and Spain hold negotiations
23/04/2014 14:40
Tashkent, Uzbekistan (UzDaily.com) -- A business forum with participation of business circles of Uzbekistan and Spain was held in Tashkent on 22 April 2014 within the visit of the Minister of Foreign Affairs of Spain Jose Manuel Garcia-Margallo.
The delegation of Spain included representatives of 14 companies, including Initec Energia S.F., Eptisa, Airbus Military, INDRA and others.
The participants of the meeting were familiarized with main directions of economic development and industrial policy of Uzbekistan, as well as with perspective directions of trade-economic and investment cooperation between Uzbekistan and Japan.
During the state visit of President Islam Karimov in January 2003 to Spain, the sides signed an intergovernmental agreement “On Promotion and Reciprocal Protection of Investments between the Republic of Uzbekistan and the Kingdom of Spain” and the Memorandum of Understanding between the Ministry of Economy of the Republic of Uzbekistan and the Ministry of Economic Affairs of the Kingdom of Spain . Also the two countries signed a Memorandum of Understanding between Uzbektourism and the Ministry of Industry, Tourism and Trade of Spain on cooperation in tourism and intergovernmental convention on avoidance of double taxation and prevention of evasion from payment of income tax and capital.
In line with the agreement on partnership and cooperation between Uzbekistan and the European Union from 1996, Uzbekistan and Spain set a regime of the most favourable trade regime. In 2013, trade turnover of Uzbekistan and Spain made up US$38.9 million.
Currently, twelve enterprises with Spanish capital, including six companies with 100% foreign capital, are operating in Uzbekistan.
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