The International Monetary Fund (IMF) on 13 May released the May 2007 Regional Economic Outlook: Middle East and Central Asia (REO). Mr. Mohsin Khan, Director of the IMF’s Middle East and Central Asia Department, highlighted the report’s main findings:
Russia, Kazakhstan, Turkmenistan and Uzbekistan agreed to reconstruct existing gas transportation system and create new capacities for gas transportation from Central Asia. This stated in joint declaration of 4 leaders adopted on May 12 in Turkmenbashi city (Turkmenistan), reports the agency with reference to Russian Information Agency "Novosti".
Russia announced a deal Saturday to dramatically increase the amount of natural gas it moves from Central Asia to Europe, a key victory in a growing rivalry with the West for the region’s vast energy resources.
Uzbekneftegaz (Uzbek Oil and Gas) and Korean KOGAS plan to build some US$1.5 billion worth gas chemical plant by 2010, and launch joint processing of gas from the Surgil field in Ustyurt region of Uzbekistan, Reuters quoted a source in Uzbekneftegaz.
OGU 2007 will be 30% larger than the previous year, which demonstrates the increasing interest in the Uzbekistan market shown by companies all around the world. Over 142 companies will take part in the event from 18 countries: Austria, Germany, Netherlands, France, Poland, Czech Republic, Turkey, Iran, United Arab Emirates, China, USA, Malaysia, Indonesia, Azerbaijan, Russia, Ukraine, Kazakhstan and Uzbekistan.
Oxus Gold PLC said its Amantaytau Goldfields project stands to make cash savings of some US$17 million after the Government of Uzbekistan granted tax deferrals to the Phase I Oxides development.
The Economic Coordination Committee (ECC) of the Cabinet on Thursday allowed the import of long staple cotton through land routes from India and Uzbekistan to meet the country’s shortfall of three million bales, Daily Times (Pakistan) reported.
The growth of gross agricultural product against last year’s figure made up 105.5%, according to the Uzbek State Statistics Committee.