Tashkent, Uzbekistan (UzDaily.com) -- On 10 February this year, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov held talks via videoconference with President of the Asian Infrastructure Investment Bank Jin Liqun.

During the talks, issues of deepening bilateral cooperation in the implementation of structural reforms, promoting ongoing projects and further building up investment partnerships were discussed.

It was emphasized that the AIIB, with which cooperation began in 2016, has in a short time become a strategic partner of Uzbekistan in the implementation of large-scale projects aimed at stimulating socio-economic and infrastructural development. Currently, the portfolio of ongoing projects includes 9 projects worth US$932.7 million and covers such areas as infrastructure modernization, support for small and medium-sized businesses and exporters, healthcare, and improving the living conditions of the population in rural areas.

The Bank’s management expressed their readiness to intensify the Bank’s efforts in promoting projects that are at the implementation stage and speeding up the review of new projects, the approval of which is expected this year.

The parties also exchanged proposals on further expansion of cooperation. Energy, construction and reconstruction of roads, electrification of railways, modernization and expansion of water supply and sewerage networks, as well as the integrated development of urban infrastructure were identified as promising areas.

An agreement was reached on joint work on the creation of a Partnership Program for 2023-2025, which will include priority areas for further cooperation between Uzbekistan and the AIIB, specific projects and the timing of their implementation.

Issues related to holding large-scale international events with the participation of the AIIB leadership, including the Tashkent International Investment Forum in March this year and the Annual Meeting of the AIIB Board of Governors in Samarkand in 2024, were also raised. The Bank’s management expressed their commitment to close cooperation in organizing and promoting these events.

Based on the results of the talks, the participants outlined further steps in the framework of bilateral cooperation and identified for themselves the priority tasks for implementation in the short and medium term.